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I’m sure we all feel the same way about fees, but we understand that they are a necessary evil. I consider myself a good consumer (I pay my bills on time), but we all slip now and then. When I get hit with a fee, I always try to get it waived. Otherwise, I feel as though the fee is laughing at me and I can’t let that happen. Read on for my tips on how to get bank fees waived.
1. Fees are not set in stone.
Assuming you are not a monthly offender, most banks and credit card companies will waive your late fees as a one-time courtesy.
2. Ask politely.
Even if the bank has waived a fee for you in the past, it doesn’t hurt to call and ask about waiving the current fee. The worst that can happen is they say no.
3. Give them a reason to help you.
Are you a longtime customer? Do you always pay on time and in full? Highlight your positive track record and how much you enjoy being their customer.
4. Ask how they can help you.
Instead of asking “can you waive this overdraft fee for me?”, try rephrasing your question to “what can you do to resolve this issue for me?”. The first question can be answered with a simple “no” and that is not what we want.
5. Don’t take the first “no”.
The first customer service representative (CSR) might tell you that there is nothing they can do to get that fee waived. Thank them for their time and a) call back and repeat the process with a different CSR or b) ask politely for a supervisor. I always ask for a second opinion. Just because the first CSR couldn’t give you what you wanted, doesn’t mean the second CSR or supervisor will tell you the same.
Bank overdraft and credit card late fees aren’t the only charges you can get waived. I’ve had success getting refunds on an AT&T subscription charge, apartment deposits, credit card interest charge, and car loan late fee. Whenever I have a bad flying experience with an airline, I call or email them following the same tips above. I’ve gotten multiple airline vouchers (ranging from $50-$150) to use on future flights.
By empowering women to understand their finances, I free them from uncertainty, stress, and fear. My clients go from scared to savvy — transforming into the confident Chief Financial Officer for their family. You can do the same! Get out of debt, save for the future, and splurge on what you want.