NEXTY= No more Banking Fees



ATM fees are the most famous charge that we are taking in our everyday life. Based on a Bank Fee Finder Report from Chime Banking, in 2017, an average customer was charged around $329 in bank fees. That was a humongous chunk of money yet it’s being widely accepted due to the need of using cash.
Let’s break down the various kind of bank fees that we have to pay if we stick with the traditional cash payment.

Overdraft fees

As the name implied, if you spend more than what you have in your account, the bank will charge you an additional fee as an advance payment fee. This fee may seem excessive since all the bank has to do is to electronically pay an automated transaction.
Overdraft fees or nonsufficient funds are charged depending on the banks. Bank5 Connect, which is an online service, charges only $15 for an overdraft while Fifth Third Bank will charge $37.

ATM fees

Based on a survey by TransferWise, 91% of people who are using ATM responded that ATM fees are unreasonable. They believe that we, as customers, should not be charged to get our own money.
Consider the fact that, the ATM fee is being charged for every transaction ($2-$3 depending on banks), that’s extremely expensive for multiple withdraws. And there are cases that people may have to pay double ATM fees if it’s a transfer between two different banks.

Monthly service fees

It used to be that we could go to a nearby ATM and check our saving balance. That’s no longer the case as most banks nowadays charge a monthly or annual service charge for balance inquiry. These fees vary from $12-$25 a month for a more premier option (Jp Morgan Chase). So now not only we have to pay to get our money, we also need to pay just to check how much money we have left, what a wonderful world we live in.

Paper statement fees

If you just opened a bank account, chances are you are still receiving those annoying bank statement every month. The bad news is, that’s not free. You’re being charged to have those paper statements sent to you. It may only be $1-$2 or $5 dollar a month for Bank of America but still, an unnecessary fee that you’re paying your hard earned cash for.

Withdrawal fees

In many developed countries, especially in the US, if you withdraw from your savings account more than 6 times a month, you will be charged an excessive withdrawal fee which is normally $15. It’s a requirement from US government to limit savings accounts accessibility. Even though it’s not the banks to blame, US customers are still being charged with a ridiculous amount of money for a ridiculous reason.
However, there are only so many ways we can do to lower the costs of banking services and that’s not a small hassle. Nowadays, most of us are too busy to care exactly which ATM to withdraw cash, how much we should withdraw and all kind of procedure that only serves the banks interest. However, with cryptocurrencies and many online payment platforms coming up, we can truly hope for a better future of cashless payment. One of which is Nexty, it offers 0 transaction fee and instant processing time. You can take a look for yourself or better yet, support this great project for a cashless future with much more customer-focused vision.
Official Website: https://nexty.io/

Thank you for reading!
bitcointalk name: coinexchange2011
bitcointalk URL link: https://bitcointalk.org/index.php?action=profile;u=1344206
Nexty Wallet: 0x367f1f22ef52e91d42d60051dc60dfce303aac97



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