Sometimes I could just scream!

It's the third (3rd!!!!!) time that a certain, nameless bank has charged me for phantom bank fees.

It's ridiculous.

If you don't scrutinise your statements you could be overcharged by an extra R100-R200 - for no reason at all! That adds up to an extra R2,400 every year.

I don't know about you.. But I'm not prepared to throw that kind of money away.

So if you're fed up like I am, then let's follow these Personal & Finance Confidential tips and never be overcharged again. According to personal finance expert Angela Preuss - we need to look out for
 
1. Incorrect charges
Mistakes can be due to a simple keystroke error. Numbers may be reversed or replaced. You won’t notice this unless you actually check for it. There are, however, many instances when overcharging can occur, especially with regards to hospital fees. Errors include charging for the wrong room type or an extra day. Beware of up-coding when a doctor charges for a more expensive product, when a cheaper alternative is available. Check with your medical aid that they are paying the hospital and not simply covering the fee out of your saving’s portion.
 
Be careful when your insurers expect you to pay the full value of your property. If your property is valued at, say R1 000 000 and your house would cost R500 000 to rebuild, you can save by only paying the insurance to cover the reconstruction of the house.
 
Meter readings, whether incorrect or only estimated, can cause monthly utility bills to jump into the thousands. Show the correct reading by photographing the meter or schedule a reading by the utility company when you are present. Act quickly on these errors or incur interest. If you are disconnected and the utility company was at fault, check you’re not charged for reconnection. Remember, however, the increased bill could be due to faulty appliances or leaks.
 
Make sure you are getting the service you negotiated. If you’ve arranged free banking for the first three months, a certain overdraft facility or discounted calls, check this is the case! Ensure your bond follows interest rate trends as expected. At hotels, ask for the receipts for anything on your account. Confirm you are not being charged for a procedure or service that was actually cancelled e.g. deactivating Call Answer.
 
2. Refunds
When you return something, verify the amount is credited to your account. Refunds of smaller amounts are often forgotten, once the transaction is supposedly completed.
 
The same applies to amounts that have been incorrectly charged. It only helps to notice overcharging, if you follow through and ensure the money actually makes its way back into your account – whatever the amount.

3. The VAT factor
Before you engage the services of any company or individual, enquire whether VAT is included or not. That way you are comparing quotes fairly. While companies can claim VAT back, individuals can’t. Many quotations, however, are offered without VAT if the services are more regularly offered to larger companies.
 
4. Duplicate billing
This may seem obvious, but sometimes being charged twice for the same product or service is not immediately apparent. This is particularly relevant with regards to insurance. Check carefully, you may find that you are paying for house insurance, when actually this is often already included as part of your bond.
 
In some cases, when you have changed the date of a direct debit, the original direct debit may still be in place having not been cancelled on the part of the provider. On the first month that the date change is to take place, ensure absolutely that this has been done.
 
5. Services not rendered/products not received
Do not assume automatically when items are delivered to your house or business that everything you paid for is there. This is particularly relevant when items are numerous, and are often too time-consuming to tally. Bricks are an excellent example of this. At around R2.50 a brick, a loss of 100 could be costing you R250. And these losses can add up.
 
If you are paying a membership fee for a health club you never visit, cancel it. Also be wary of annual activation fees on secondary credit cards you never use. With regards to insurance, review and adjust insured values on short term policies annually.
 
6. Complicated or consolidated billing
Medical bills or bills relating to technical repairs or services (such as computers, cars or security systems) may seem baffling, especially with the use of jargon. When in doubt, contact your supplier directly and ask for an explanation of each item. If everything has been bulked together, ask for a breakdown. You may discover duplicate or unnecessary charges.
 
If you you’ve been billed incorrectly and your claim is less than R7 000, approach your nearest Small Claims Court, which deals with civil cases only. There is a fee of approximately R15 to use the court but since no lawyers are involved, there are no lawyer’s fees.

That's good to know!