Example of Bank Costs

The bank costs are those costs that are generated by the provision of services by banks.

The bank costs, can be differentiated or classified as:

commissions

Services

These are subsequently subdivided as can be seen in:

Commissions:

Withdrawal fees

Commissions for non-payment

Commissions for new services

Commissions for extraordinary services

Fees for direct debit payments

Commission for withdrawal in other banks.

Commission for purchase with credit card etc.

Services:

Direct debit services

Loan services

Payroll payment services

Financial advisory services etc.

Bank Cost Example:

Mr. Ernesto Contreras needs to transfer money from one state to another within Mexico.

You go to a banking institution, to request said movement, you are informed by the executive, that all movement and sending of money carries a commission, which would vary depending on the amount and of the place.

The accountant presents a table of costs, in which he indicates that a cost of 3% of commission for sending money and that this can be paid with the sending of money or in a payment later.

The shipment is made, discounting the commission charged by the banking institution.

Another example:

Juan Pérez, needs a new computer, and does not have enough capital to buy it.

In order to acquire it, apply for a credit to the bank where you keep your money. The bank asks for a guarantee, and if it does not have it, it will make a loan on your own terms.

The loan is made, but it will carry the bank cost consisting of a 10% commission on the final price of the product and an interest rate of 3% per month in case of non-payment on the date limit.

Paying for the device within 6 months.