HSBC: Tips For Saving On Your Banking Fees
[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
