Guide
How much are bank fees and charges costing your business?
Monthly account fees, card processing charges, transfer fees, overdraft interest, late-payment penalties: each is small, none is anyone’s job to watch, and together they can be a real number.
Total a full year first
Look through twelve months of bank statements, or the fee and interest accounts in your books, and add up every charge. Seeing one yearly total changes the conversation more than any single fee.
Where fees usually hide
- Card processing rates that were set when you were smaller
- Account packages with services you no longer use
- International transfer and currency conversion margins
- Overdraft interest from timing gaps a forecast would have shown
- Late fees on bills paid a few days after the due date
Questions that bring them down
- Is there a better rate for a business of our size and volume?
- Which package charges would disappear if we changed plan?
- Could a different provider move our international payments more cheaply?
- What would avoid the overdraft: a short facility, or simply better timing of payments?
See them every month
Big4CFO totals your fees, charges and interest over the last twelve months in every report, with the transactions behind them, so the number never goes unnoticed again.
Have it worked out on your own figures
Big4CFO checks your books to the cent and produces this every month, from your own records. One-time reports cost $49 (one month), $99 (three months) or $199 (twelve months). Monthly plans start at $349 a month (Foundational), with Growth at $599, Leverage at $899 and Capital Stack at $1,999.
Questions
- Are interest costs worth reviewing too?
- Yes. Interest on an overdraft that a cash forecast could have avoided is a fee for not knowing what was coming.
See it on your own figures
One-time reports from $49, delivered within minutes. Monthly plans from $349. Every payment carries a 14-day money-back guarantee.