I read a report in the financial section of the Sunday Times today that showed how to stop your bank charges mounting up.

Here’s some of the advice:-

1. If you are a student make sure that it is a student account you have as you get free banking.

2.  Every time you take money out of an ATM with your debit card it costs you 35 cents. Instead of going to the ATM often and taking out just what you need, take more out, maybe your money for the week or even the month.

If you got to the ATM every couple of days that’s going to cost you €10.50 a month and €34 a quarter and €126 a year.

I’m sure that you would rather spend that on something else.

3.  Use your debit card to make purchases as AIB charge 20 cents for each purchase compared to 35 cents for taking money out of the ATM. If you take money out of the ATM to buy goods in a shop you are making a mistake.

4.  Use the cashback facility when you make a purchase. It means that you are only being charged 20 cents for both the purchase and the cash.

5.  Use your credit card instead. You are not charged for purchases using it. It is the shop that is charged. As long as you are able to pay back the money at the end of each month then you are not charged anything at all.