The process is usually quite straightforward, and a bank’s representative will take you through each step along the way. Even if you want to set up a new account online, the process probably won’t take more than a few minutes, according toBut once you have your account, you need to pay attention to it. In particular, you need to avoid certain common banking mistakes that can trip up many individuals.
Are you limited to a certain number of transactions each month? You may already be on the lookout for these types of banking fees, but there are an increasing number that some banks are now beginning to levy additional types of charges on their customers. Not paying attention to financial penalties: Keep in mind that it is not just recurring fees that are a potential issue. Having even a single lapse in your account record keeping could result in a penalty for something like a bounced cheque .
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