Scratch around to get rid of pesky fees

Bank fees might seem like the smallest of worries when it comes to saving, paying bills and making ends meet, but they can make a big difference in the long term.
Fees can reach $3 a transaction so a spending account with either free debit transactions or a set monthly fee for unlimited use could save you a lot over the course of a year.
The best way to reduce these costs is to know exactly what fees you pay.
You may be able to avoid or simply keep fees to a minimum by changing your habits. Transactions at the branch usually cost more than online and telephone banking or using Eftpos and ATMs.
Getting cash out with purchases to combine transactions can also limit fees.
Fees add up even more over long-term investment accounts.
When you start saving for retirement you might be surprised how high those fees can get.
If you invested $5000 a year with fees at 3 per cent, you could pay $25,640 after tax in fees over 20 years. This figure was based on an 8.5 per cent return before tax and fees, and tax at 33 per cent.
Shopping around for your investments could save you money. For example, if the fees were only 1 per cent you could pay $9410 in fees for the same period.
What seems like a small difference in the first year is equal to a saving of $16,230 over 20 years.
Some investment systems add consulting fees, entry fees and exit fees, so make sure you ask about all the costs when you're looking into investments.
Ten ways to save on bank fees
Bank online
Banks can charge fees for ATM and teller transactions but it is usually cheaper and faster to bank online.

Get the right account
Many banks have accounts with no fees or reduced fees. Talk to your bank about which account is best for you and find out if you qualify for a special account such as if you receive superannuation or you're under 18.

Negotiate the fees
If you've got other business or a mortgage with the bank, you may qualify for discounts or the bank may be prepared to negotiate to keep your custom.
Pay off credit with direct debit
High interest on credit cards can be avoided by paying it off in full each month. A direct debit ensures you don't get charged late-payment fees or interest on unpaid balances.

Consider an online savings account
The reduced cost for the bank to manage an online account is often passed on with lower fees and higher interest rates.
Get cash when buying with Eftpos
Transactions are often free with spending accounts but ATM withdrawals can have fees attached - so get cash with your purchase.

Don't get cash from credit
Cash advance fees can be $5 or more a transaction so it's not usually worth using your credit card to get cash.

Consider an overdraft facility
If you regularly go into overdraft then set up an overdraft facility. It will be cheaper in the long run than frequent dishonour fees.
Avoid dishonour fees
Make sure you have sufficient funds in your account to cover any upcoming payments so that you avoid overdrawn, dishonour or failed-payment fees.

Save on transfers

Ask your employer or bank to split your income into different accounts to avoid transferring money around.