Retailers and service providers love to incorporate the word ‘free’ into their advertising to lure you into making a purchase. In this post, you will discover three “free” things you that are actually not free at all.
Companies are in business to make money. Hence, when you are being offered a free trial, a free item or a free service, the reality is that there is almost always a catch. In this article, you will discover three “free” things that actually aren’t free at all.
There's usually a catch when an item is free.
1. Free bank accounts
Not having to pay a monthly fee for your current account is very appealing to banking customers and should really be the industry standard. However, “free” can often come with a price. Free bank accounts are often only free if you maintain a specific minimum balance on your account and usually come with other fees such as ATM withdrawal fees or high overdraft fees.
Companies love to lure you in with “free” trials for their product or service. The catch, however, is that once the free trial is over the monthly payment usually starts. If you have entered your credit card details to receive the free trial, the payments usually start automatically once the trial is over if you don’t opt out on time. Hence, free trials are something to be very wary about as a consumer as they can end up costing you.
3. Free gifts when you make a purchase
One of the oldest tricks in the books of retailers and another great example of “free” things that are not actually free is the “receive a free gift when you make a purchase” gimmick. Many shops entice customers to increase the value of their purchase to receive a small “free” gift upon making a purchase above a certain level, such as $50, for example. As you only receive the item after having already made a purchase, the item is not free at all and is actually already included in your overall purchase price.
This information is provided by DPN Pty Ltd ABN: 94 630 700 186 Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and related entity of DPN. Credit for Dream Big 100% Offset and Work Smart 100% Offset is provided by Adelaide Bank a division of Bendigo and Adelaide Bank Ltd, ABN 11 068 049 178 and Australian Credit Licence 237879.