HSBC: Tips For Saving On Your Banking Fees

September 28, 2015

[Advice column by HSBC Bermuda]

How can I save on the bank fees that I pay?

It really depends on what type of banking you are doing. But, typically it is cheaper to bank via Internet Banking instead of in a branch when doing specific financial transactions [such as requesting bank cheques or making money transfers].

Here are a few examples of where you can reduce your costs:

  • Save $40 per cashier’s order [Bank cheque for local use]
  • Save $60 per draft [Bank cheque for overseas use]
  • Save $60 per international money transfer
  • Save $50 on transfers between local banks

Banks often provide additional incentives to encourage online activity. For example, you can sometimes apply for products on your bank’s website and receive a financial incentive, such as reduced processing fees. These can vary, but it may mean up to $200 in savings on some credit requests.

At the end of the day, banking via internet or mobile banking saves you time – and time is money!

To learn more about internet banking and other ways to bank visit www.hsbc.bm/easybanking

Issued by HSBC Bank Bermuda Limited which is licensed to conduct Banking and Investment Business by the Bermuda Monetary Authority

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