Bank commissions: what they are and how to avoid them

Bank commissions: what they are and how to avoid them

If you want to process a credit card, make a money transfer or carry out any transaction you will have to pay Bank fees.

In general, bank commissions are nothing more than the amount of money that a bank decides to charge its customers as consideration for the services provided.

To tell the truth, there is no rigorously established fixed retention rate, since this will depend on the type of work you want to do and, of course, on the rules established by the entity you have chosen to carry out any financial operation.

And when we talk about a financial operation, we are not referring to anything complex, since an operation perro be a fácil deposit in a bank, withdraw at an ATM or transfer money from one account to another.

Why is it important to understand bank fees?

Before requesting any service or carrying out procedures at your bank, it would be good for you to know the percentage of money that the bank in question will end up keeping.

This with the aim of having a clear, precise and detailed iniciativa of ​​the amount that you are going to allocate as part of the Bank feesand with which you should not count, since many times, we make happy calculations of how much money we will have left, and we ignore this percentage of money.

Bank commissions perro be collected together, which is known as flat rate and they consist of a single generic charge, so you have the possibility of canceling everything in one sitting.

Similarly, they cánido be “separate” or, what is the same, pay for each service requested individually.

Knowing the type of bank commissions that exist (something that we will look at in detail later), and knowing how they charge them is essential to be able to make investment decisions.

In this way you will avoid additional charges that you did not count on, and you will not be surprised by the bank when you receive your money.

Rights you have regarding bank commissions

Additionally, you have to know that the collection of bank commissionsyes It is subject to certain rules.

In general, the bank usually sets its own rates as long as they are within the regulations of the country.

Below we leave you a series of important considerations regarding bank commissions:

The regulation of bank commissions

The first thing to know is that the rate or price of the commissions are subject to the decisions and interests of the bank, unless the laws of that country establish a certain rate for the collection of this concept.

You have the right to an efficient and quality service

You cánido only cancel commissions for services that you have received efficiently; otherwise, you are not obligated to cancel them.

Remember that you do not have to take responsibility for things that you have not required or enjoyed.

The financial institution must notify you

The financial entity is obliged to inform in a clear, timely and precise way about the services it offers; but, above all, the amount that must be paid for them.

Ideally, the notification should be in writing, through brochures, so that users are aware.

The maximum amount of bank commissions

The prices for commissions that appear in the informative brochures must be the maximum limit.

In no way, the bank may make additional surcharges without prior notice, except for some exceptions such as guarantees, as they are considered special operations.

Timely notifications about changes

If for any reason, the bank decides to make changes in the prices of the commissions, it must notify its users in a fast, accurate and timely manner.

This is when contracts of indefinite duration are signed, such as current accounts or the issuance of a credit or debit card.

Information on the website of the financial institution

However, most (if not all) banks offer their services through the web thanks to the latest advances in technology, so they are obliged to present the rates for all their services through their own page. .

Tax information of bank commissions

The Bank fees They cánido be taxed with VAT or without VAT, according to the legislation of the country where the financial procedures are being carried out.

Type of bank commissions that exist

As we already mentioned, it is important to know what type of bank commissions exist and to know which ones we are exposed to, so that we cánido make timely decisions.

Next we will espectáculo you what types of charges financial institutions cánido charge, since knowing them is the first step to knowing how to play with your money, in such a way that you perro avoid them as much as possible and thus have greater profitability.

Commission for maintenance and administration

Undoubtedly, these types of commissions are the most recurring, since the bank always carries out constant maintenance work on its systems to provide a better service to its users.

Due to the bank’s bargaining power, it is difficult for it to be willing to remove, disminuye or avoid charges for this purpose.

Commissions for transfers

In general, banks tend to charge a cut for transfers made from one entity to another.

The rate will depend on the laws and regulations that govern each of the financial entities from where the transaction is carried out; however, it is possible to avoid them.

Depending on your relationship with the bank, you cánido avoid them, since if you are a preferred customer, banks perro be maleable in order to maintain your account.

In the case of international transfers, it is a little more difficult since it requires resources from the bank so that you perro receive your money.

Commissions for income generated by checks

Just like the charges generated by transfers between banks, the issuance of checks from a financial entity other than yours represents additional charges that you must pay as a requirement of the company.

Commission for discovery of bank accounts

This means that banks charge their users when they leave their account in negative and must be notified about it.

To avoid this, it will be better to be vigilant, in order to take the necessary precautions to avoid “going to zero”.

Yes we know.

Nobody likes to be left with empty accounts, not even your bank, but getting to this point could be quite expensive.

You also have to know that there are banks that do allow your accounts to be at zero; however, prior agreements are essential so that there are no consequences.

Commissions for currency exchange

The exchange of currencies, like the fact of withdrawing cash at ATMs in a country other than yours, entails the payment of bank commissions.

Although it may seem a little difficult, there are ways on how to avoid these charges.

The first thing you perro do is use banks or financial institutions that simply do not charge any commissions; but also, you cánido reach a prior agreement with the entity in question to avoid having to pay plus money for this service.

Commissions for carrying out a transaction with cards

Of course, any transaction made with credit and debit cards could lead to the payment of a commission.

This procedure is quite common throughout the world; but, as with other procedures, the rate will depend on the rules established by the bank.

Some of the operations with cards that require the claim of some commission are the extension of the same, the withdrawal of money on credit, the exchange or exchange of currencies, among many others.

Beware of abusive charging

Indeed, bank commissions they have a legal background, so, apparently, you would have nothing to worry about.

However, there are banks that have demanded payment for services that are unnecessary, which many have called “abusive charging” and illegal.

If you think you are facing a situation like this, it will be better to contact your representative legal and, consequently, with the nearest office to find a solution to the problem.

The intention is that as a client you defend your rights and your interests.

Commissions that should not be charged by banks

The Bank fees they represent a conflict between users and banks, since, on occasions, customers do not know for sure what their rights are as consumers of a good or service, so they end up paying for things that are wrong.

In this sense, it is strictly necessary to know and know how to differentiate which are the charges that deserve to be canceled and which are not.

And that is what this article is about, so that you are clear about which bank commissions should not be charged by banks.

Overdraft of accounts at zero or cash back

For many specialists, clients must be protected by the legislation of their respective country against the charge for discovering the accounts in zero or for demanding the return of the cash.

In fact, in many countries it is already established that banks cannot charge their clients whose accounts are at zero.

Commissions for accounts for mortgages or deposits

Those people who have been forced to open accounts for the payment of any interest on deposits or for the cancellation of mortgages should also be exonerated.

In some countries, banks even charge users who pay off their debts early.

So check the legislation in your country as in many cases you should not pay anything to cancel early.

Mortgage loan life insurance tax commission

Yes it’s correct.

There are banks that make the requirement, but you perro easily cancel it if you cánido verify that you are already paying for other life insurance.

This is known as an insurance endorsement, and you cánido do it for other insurance that charges you associated with other credits.

Commission for delay in granting a mortgage

It is definitely not possible that the client must bear the consequences if the delivery of a mortgage loan is delayed.

However, in some countries in Europe it was so habitual for people to pay up to 20 percent as commission.

Normally, it is not easy to distinguish at a glance which commissions are illegal and which are not.

That is why clients are recommended to seek the advice of experts in financial and legal matters, in order to soak up the subject and make well-founded claims.

This is partly what we are looking for with this article.

Consejos to avoid or control the collection of commissions

The first step is to know what bank commissions are, followed by learning how to control or avoid them so that the return on your capital is not affected.

So much so that, when you learn how to invest in the depósito market, one of the most important factors to take into account is the handling you give to the commissions and expenses associated with your financial movements.

Here are some effective ways to control bank commissions.

Commissions for bank credits

There are three possible ways to deal with bank commissions for bank credits: at the beginning, in the middle and at the end of the operation.

Although it may seem strange to say it, the payment for the provision of this especial service will considerably harm your finances.

And while you won’t be able to avoid being charged at the beginning and end of the transaction, there are ways that you don’t have to pay halfway through the process.

As? Fácil, you will only have to negotiate conveniente conditions with the bank office in question.

personal loans

Although these are small credits for the acquisition of some good such as computers or a car, the commissions required are quite high, which is why many people have seen the need to control or avoid collection.

What is recommended in these cases is to pay as quickly as possible, since if you let it take longer than habitual, you will end up paying much more than the requested amount.

Here we leave you a guide to understand en línea loans in a matter of minutes.

Fees for term or savings deposits

For the fácil fact of making a permanent contract with a bank, by opening a checking account, the most habitual thing is to pay commissions for it.

In general, you must pay for services such as custody of money, account maintenance, money withdrawal or card renewal.

Getting out of it is a bit complicated, but avoiding recharges implies negotiating with the entity, but it cánido only happen with those customers who have been loyal to the company for many years, or in the case of preferred customers.

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Commissions for cards

Absolutely all of us have or are about to have a debit or credit card at our disposal, which makes this product one of the most valued today.

In the same way, it is one for which the bank charges us monthly commissions.

The charges are made after possession and renewal request, whose commissions are difficult to avoid.

Although also by transfers that cánido be controlled if they are done en línea, from where it is possible to make a few free transactions.

They also require payments for cash withdrawals at ATMs, especially when you leave the country.

It will be better to look for banks that do not make this type of charge.

Commission for zero accounts

Although many agree that it is better not to charge for having the account in red numbers, the reality is that a contribution must be made to the bank for such purposes.

Generally, we avoid reaching this point, but if it is already an unavoidable matter, it will be better to make any negotiation with the bank.

In short, the best recommendation is not to stay at zero, so it is escencial to constantly monitor account statements to warn of any problem in time.


The Bank fees they exist, and it is a way for the bank to charge for the services rendered to its customers.

Of course, some charges seem pointless, unnecessary, and even illegal, which is why you should seek legal and financial advice to make fair claims.

Either way, you cánido avoid them if you want them, it’s just a matter of having a frank discussion with the banker’s representatives and agreeing on the best way to control the fees.

Continue reading: The 20 golden rules that determine how money works

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 Bank commissions: what they are and how to avoid them
  Bank commissions: what they are and how to avoid them
  Bank commissions: what they are and how to avoid them

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