When left unnoticed, bank fees can quickly drain you of your hard-earned cash!
That's why we're excited to introduce our newest feature! With Your Bank Fees, we've provided you with an easy-to-read bar graph that shows you the amount of bank fees you've been charged every month, for the last 6 months. What's more exciting is that you can also see the fees you've been able to recover each month (shown in green). We thought this was important to add because most bank fees are negotiable! It's time to start getting them back.
Note: These are fees charged to you by your bank. At this time we are only able to provide you with bank fee data for the bank account you've selected as your primary account in the Possible app. The name of the bank and the last 4 digits of the account number are shown at the top of the screen in blue, under "Your bank fees."
Below the bar graph you'll see the total amount of bank fees charged and recovered along with a breakdown of the amounts you were charged for each fee category. You can select to view details for the entire 6 months or tap on a specific month for details on that month alone.
We've broken the typical bank fees down into the following categories:
- Overdraft & NSF (or insufficient funds) fees: these are fees you're charged when you've made a purchase, paid a bill, or withdrawn cash that exceeds your bank balance.
- Account maintenance fees: when certain requirements like a minimum account balance or a minimum amount of transactions aren't met, some banks charge maintenance fees.
- ATM fees: when you use an ATM that is out-of-network you may get charged fees by both your bank and the company or banking institution that operates the ATM machine.
- Other fees: these are the other miscellaneous fees your bank may charge, like fees for requesting hard copies of your bank statements or losing your debit card.
Note: not seeing a lot of data? Don't worry! We can only provide data we have available. As you continue to use our app and build your account transaction history, you'll begin to get a more complete picture.
Want to find out which transaction caused these fees? Tap on the category you'd like to learn more about.
This is where it gets interesting. Was that $35 overdraft fee really caused by your $12.99 Netflix subscription? Seeing a breakdown of these transactions in correlation with the fees they've caused can give you a better understanding of how your financial health is being impacted.
Need help recovering your fees?
We're launching a new bank fee recovery feature soon to help our customers get that hard-earned cash back into their bank accounts. Interested in joining our waitlist? Tap on "Help me recover my fees" and "Join the waitlist." We're ramping up to be able to support you soon!
While you're waiting for us to get in touch, you can tap on "Learn more about bank fees" and "Learn how to recover my bank fees" for tips on how to get started on recovering these fees yourself.
Something not looking right? Please contact our customer success team so we can help!