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| A Nigerian man, reacting to bank charges. |
Are hidden banks charges silently eating your money ? Discover 3 sneaky charges and how to avoid them to save more money every month
Have you ever checked your bank statement and wondered where your money disappeared to? You're not alone. Many people lose money to silent bank charges every month without even realising it.
In this post we'll break down three of the most common hidden charges that could be draining your money—and most importantly, we'll show you how to stop them.
🔍 1. SMS Alert Charges
Most banks charge 4-10 naira per SMS anytime there's a transaction on your account. It seems small, right? But over time, it will add up— especially if you receive alerts frequently.
What to do:
Consider switching to email alerts if your bank offers it. It's often free and just as effective.
💸 2. Card Maintenance Fees
This is a monthly or annual fee banks charge just for having an ATM card—even if you barely use it. On average, banks charge 50naira to 100naira monthly
What to do:
If you don't use your ATM card often, ask your bank about zero maintenance plan or consider disabling the card temporarily.
📉 3. Intra- Bank Transfer Fees
Yes— when transferring to the same bank, some charges a little fee(10–30naira).its often hidden in the transaction breakdown.
What to do:
Use your bank's office mobile app or USSD instead of third-party platforms—they usually come with reduced or no fees for intra-banks.
✅️ Final Tip: Always Check Your Statement
Take time at the end of each month to review your bank statement. Look out for recurring deductions and ask your bank to explain any unknown fees.
Knowledge is your first savings plan. Don't let your hard-earned money disappear into charges you didn't sign up for.
📢 Call-to-Action (CTA):
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