Online
banking security
The number and range of fees and charges levied
by banks against their customers varies from bank to bank.
Transaction charges
Banks charge a fee for certain
transactions. Some banks may even charge for over-the-counter
transactions specifically
in order to encourage the use of online services.
Late fees
These generally apply to late debt
payments, in most cases the late payment of an overdue
credit card bill. Charges
can also be applied to late mortgage or loan repayments.
Electronic
Funds Transfer charges
The transfer or payment of funds
electronically may be charged by your bank either directly
or on behalf
of
an intermediary
for the provision of the service. For instance,
there may be a fixed fee for making an electronic transfer
to an
overseas account.
Overdraft fees
A fee may be applied to any overdraft
you may have for your current account. Depending on the
bank, these may
be fixed
charges, arrangement fees or a percentage of
the overdraft value.
Credit Card charges
Interest charges are normally
associated with the money lent to you through your credit
card since
these are
considered loans. Additional fees that
are specific to the provision
of the credit card may also be applied
for extra services (i.e.
purchase insurance).
Cheque charges
A fixed amount is usually charged
per cheque written to cover processing and handling
fees. Normally
this is a
low fixed
fee of a few pence rather than a percentage
of the amount of the cheque.
Overdrawn
fees
Some banks may charge a fixed fee if
your account becomes overdrawn
or exceeds the
amount of
your agreed overdraft.
Other charges
Banks may also levy specific fees
or charges for other services.
These fees
will vary
depending on the type
of service. Always
check with your bank to see
if there are any charges
associated with any new service
you may use.
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