2.2.8 Negotiate for lower fees

You can ask for lower fees. Contact your financial institution and discuss lowering or waiving some of your fees.

• Make sure your account is in good order. Be ready to say how many years you've been a good customer, what accounts you have at the institution and what charges you pay.
• Ask for something specific. Explain that you want a specific fee waived and why.
• The first person you talk to may not be able to help you. Ask to speak to a supervisor if necessary.
• Explain your position, but make sure your request is reasonable.

Review your accounts with a representative once a year or if there is a major change in your finances. Ask the representative to suggest ways to reduce your fees. You may be able to get the institution to reduce some or all of your banking fees if you take out a mortgage or line of credit at the institution.