Save on bank fees
Many of us have experienced the frustration of bank charges that pop up at any time, without warning. Think about the moment when you had to make a quick transfer to a bank branch for a relatively small amount of BGN 2,5 to 10, only to find that the transaction fee was greater than the amount itself. Even attempts to close an account can result in additional fees, and withdrawing money from your bank’s ATM can now also incur a fee. With the right information, however, you can quickly make decisions about changing your bank, closing unnecessary accounts or negotiating your current terms, saving you time and money. Let’s look at a few key issues that can help you save on bank fees.
How much of my money has been taken by the banks in the form of various bank charges for the month?
BoroBit collects and analyzes your transactions to show you this information in the monthly cost analysis. View a sample monthly analysis for April 2024.Месечен AI анализ за Април 2024 |
Обзор на разходитеЗа банкови таксиТози месец банките са взели 84.28 Лева от твоите пари под формата на различни такси, разпределени по следните валути: .
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In this example analysis, we look at how a total of BGN 84.28 was charged by the banks in the form of various fees, with BGN 64.46 and USD 11.07. This information shows how much money is really coming out of our pockets in bank fees and highlights the need to proactively manage our banking costs.
Which bank charged me how much?
Having looked at the total amount of bank fees charged for the month, we will now focus on the breakdown of these fees by individual banks. So we can see exactly which bank charged us what amount for April.
Месечен AI анализ за Април 2024 |
Обзор на разходитеЗа банкови такси...Детайли по банки:  49.82 Лева
 11.76 Лева
 12.95 Лева
 9.75 Лева
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For the month of April, UBB charged a total of BGN 49.82, DSK BGN 11.76, Unicredit Bulbank charged BGN 12.95, and Postbank BGN 9.75.
This information allows us to understand exactly how much and what each bank charges. Thus, we can easily identify which banks take more of our money, which is important for optimizing our financial costs.
What types of bank charges do I pay and what are the details of each bank charge?
Looking at the details of each bank fee, we can identify the following groups of bank fees that we paid for in the month of April:
- ● Basic Account Fee
- ● Interbank transfer fee
- ● ATM withdrawal fee of the same bank
- ● ATM withdrawal fee of another bank
- ● Incoming currency transfer fee
- ● Household bills fee
Месечен AI анализ за Април 2024 |
Обзор на разходитеЗа банкови такси...Детайли по банки: 49.82 Лева
11.76 Лева
12.95 Лева
9.75 Лева
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In our review of bank fees, some fees appeared whose purpose is not entirely clear, prompting us to investigate further. An example of this is the fee of BGN 1.17 charged by DSK bank on April 1, although on April 2 the same bank had already charged a basic fee of BGN 5.29. Such situations require additional clarification with the bank to understand the reasons for the repeated charging .
Which bank offers me better conditions?
The choice of a bank is based on a detailed comparison between the fees and the services they offer. Based on the analysis made using the BoroBit application, you can easily determine which bank offers the most favorable conditions according to your needs.
- Compare fees for account maintenance, interbank transfers, ATM withdrawals and other operations.
- Consider your personal financial habits and needs. If you operate with foreign currencies, a bank that offers favorable conditions for currency operations may be a more suitable choice for you.
How AI helps me manage my bank fees
Once we’ve looked at the details of your bank charges, BoroBit’s AI will go one step further by providing you with a personalized summary analysis. It will review your financial data for the month, focusing specifically on bank charges, and give you specific advice on how you can respond to your specific situation.
Месечен AI анализ за Април 2024 |
Обзор на разходитеЗа банкови такси...AI ОбобщениеНа базата на предоставената информация, тук са няколко финансови стратегии и съвети, които могат да помогнат за оптимизиране на разходите за банкови такси:
1. Преглед и анализ на банковите такси Общ преглед: За месец Април 2024, общо са платени 84.28 лева под формата на банкови такси, разпределени между четири основни банки: UBB (49.82 лева), DSK Bank (11.76 лева), Unicredit Bulbank (12.95 лева), и Postbank (9.75 лева). Специфични такси: Включват основни такси за сметка, такси за междубанкови преводи, такси за теглене от банкомат и такси за входящи валутни преводи. 2. Стратегии за намаляване на таксите
3. Инвестиране на спестените средства Пример за инвестиране: Представи си, че успееш да намалиш банковите такси с 50% (42.14 лева за месец) и решиш да инвестирате тези спестени пари. Сложна лихва: Ако инвестираш 42.14 лева месечно с годишна лихва от 5%, за период от 10 години, крайната сума би била значително по-висока благодарение на ефекта от сложната лихва. Да видим конкретен пример за сумите, които би спечелил след десетилетие на такива месечни инвестиции:
Ако инвестираш спестените 42.14 лева месечно при годишна лихва от 5% за период от 10 години, крайната сума, която може да се натрупа, е приблизително 6543.60 лева. Това показва колко значително може да расте твоята инвестиция благодарение на сложната лихва, ако рационализираш и намалиш банковите такси. |
FAQ
We are a Bulgarian startup that has developed a platform to improve the financial health of Bulgarian citizens, families and small businesses.
BoroBit is a project with a mission to improve the financial health of Bulgarian citizens through easily accessible technological solutions. After two years of work on the project, we are ready to present our solution.
We are now at the "early adopters" stage, which means that anyone who joins us now will not only get free access to the app, but also become an active part of our mission. By using BoroBit, you not only manage your finances, but also contribute to the development of a tool that will help all Bulgarians improve their financial health.
BoroBit is not just a multi-banking application, but a comprehensive solution for managing personal, family and small business finances. It is entirely in Bulgarian, specially created for Bulgarian citizens. Integrates with all banks and fintech companies in Bulgaria, enabling centralized financial management.
BoroBit is more than a standard finance app – it's like a handy financial assistant in your pocket that makes it easy to manage your finances. It helps you improve your financial health by offering convenient solutions to manage all your finances in one place - from personal and family to your company finances. Most importantly, the app allows families to work together on their financial management and education, including children in the process.
This app is for you if you fall into any of the following categories:
- You want to manage your personal finances more effectively.
- You want to involve your family in managing family finances, including educating your children about finances.
- You own a small business and want centralized management of your business finances.
- You recognize the importance of improving financial health in Bulgaria and want to contribute to the development of a tool that benefits the entire society.
We would also like to share that BoroBit is not only a business project, but also a social commitment, as we strive to involve diverse groups of society. We offer various organizations to provide their employees, customers and students with tools to manage their finances and the finances of their families. This is how we expand our mission for financial health among as many Bulgarians as possible.
This includes banks, universities, non-bank financial institutions and businesses in Bulgaria.
- If you run a business and want to provide your employees and their families with a valuable financial management tool presented as part of your company, BoroBit offers a solution. This adds value to your social package by allowing your employees to benefit from BoroBit's financial tools, associating them directly with your company.
A register of the licensed payment institutions in the Republic of Bulgaria, as well as their branches and representatives (under Article 19 of the Law on Payment Services and Payment Systems) can be found on the website of the Bulgarian National Bank https://www.bnb.bg/PaymentSystem /PSPaymentOversight/PSPaymentOversightRegisters/index.htm
Inabit EOOD, which is the owner of the BoroBit trademark, has a contract with the licensed payment institution Iris Solutions OOD for the provision of the service under Article 4, Item 8 of the General Tax Code, namely for access to account information.
For more information, you can read the general terms and conditions at https://borobit.com/obshti-usloviya or contact us on the indicated communication channels.
We do not currently plan to include the ability to order transfers directly through our platform. Our focus is on building innovative functionality based on users' financial data to make it easier to improve their financial health. However, we are open to feedback and, with sufficient user interest, may consider adding such functionality in the future. We are actively working on the development and implementation of new functionalities that are based on user needs and feedback.
BoroBit is currently in an early adopter period, offering its services for free to all users. This is a way to thank users for their feedback and participation in the development of the application. Details of future subscription plans and their benefits will be announced after the end of this period.
Yes, under our early adopters program, anyone who joins BoroBit during this period gets the opportunity to use the app for free for as long as BoroBit exists. This is our way of thanking you for your valuable feedback and support in the early stages of BoroBit's development. Early adopters play a key role in shaping our app, and that's why we reward their trust with continued free access.
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