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Simple mistakes which are handing money to the banking industry

In these times of economic concerns it is vital that the UK public review their banking arrangements on a regular basis and ensure they are getting value for money and services which they actually require. While there are a number of common errors which increase the overall cost of UK banking services, we would like to highlight the following issues: -



Monthly charges



If you pay monthly charges for your banking services you will probably receive free breakdown insurance, free travel insurance or some other form of sweetener. If you are not using these services it is vital that you return to more traditional banking arrangements which are currently free of charges.



Checking your statement



While the occurrence of errors on banking statements has been severely reduced over the last few years they still occur on a regular basis but the vast majority of people do not even review their bank statements. Reviewing your statements will alert your bank to potential problems and potential erroneous entries and could save you money in the long term.



It is also vital that we look at the seperate issue of ID fraud which is a growing threat to all of us:-



How many of us simply place our bank statements in the bin and throw them out with the general refuge?



ID fraud is a real threat in the UK and around the world and while many of us are of the opinion that "it will never happen to us" it is happening to a growing number of the UK population and you could be at risk - shred those statements!

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