Three Services People Don’t Know About but Can Get for Free From Their Bank
Banks are not just a necessary place to store your money , they serve a deep social purpose. They offer financing for businesses and major purchases such as a car or home, as well as a long list of other financial services. Many of these services cost money in fees, but most banks offer at least a few free services that you should definitely take advantage of.
Here are three useful services you can probably get for free (and if your bank doesn’t offer them, it might be time to look for one that does).
Financial planning
Managing your money can be a difficult and confusing job if you’re not a numbers whiz (or even if you are), so having a professional assess your financial situation and offer advice and strategies can be invaluable. And expensive—financial planners’ fees can run into the thousands each year .
One way to avoid these fees is to find out if your bank offers financial planning services . Although you usually need to have a certain amount of money in the bank to be eligible to use them , they can still be free in the sense that there is no additional charge for the consultation. Not every bank does this, but many of the larger banks allow you to sit down and consult with a financial advisor who can help you understand investments, retirement accounts, and savings strategies for free. If you’re unsure about how to manage your money, it may be worth calling or stopping by your local branch to see if they offer financial planning at no extra cost.
Notary services
A notary is one of those things you don’t think about until you need one, and when you do need one, it’s almost impossible to find one who is nearby and available. When that day comes, you should call your bank because many banks have at least one person on staff who is a certified notary public. Notaries aren’t that expensive—fees range from $5 to $25 depending on what service you need and where you live—but if you don’t have to pay a fee because your bank offers the service to its customers, why would you pay it? ? ?
Currency exchange
If you are traveling, you will need to exchange currency before departure to avoid additional costs and inconvenience. Your bank will almost always be the cheapest place to do this, and if you exchange a certain amount of money (usually $1,000 or more), they’ll even do it for free. Some banks don’t even have a limit on the amount – for example, PNC Bank exchanges currency for its clients without commission. If you’re going on a trip and need local money, it’s worth checking if your bank will do this for you for free.
This is not an exhaustive list, and your bank may offer additional free services (for example, startup online bank Varo offers free tax filing services ), so it’s worth exploring and taking advantage of what you can.