Nowadays, it is extremely difficult for us to function without a bank account. It is affected by our payment, pension, retirement or scholarship. It is through him that we make bank transfers, paying for electricity or cable. Therefore, practically all of us have an account today because it is a necessity.
Each bank can provide us with a bank account. The offers at first glance seem very similar, but if we look closely at them, let’s see that the differences between individual products can be very large. So what is the guideline when choosing a bank in which we set up a bank account? We have several aspects to pay attention to.
Costs related to running a bank account
A large proportion of banks advertise that they keep bills without costs. However, this is not always true. Some banks do not charge any fees, but on the condition that we will provide our account with an appropriate amount every month. Others make the suspension of charging fees subject to the use of other products of a given bank (credit card, savings account, etc.) or the execution of a specified number of transactions via a debit card. Therefore, before we open a free account in a bank, let’s check if we really will not have to pay for it.
If we look at the costs associated with the bank account, take into account not only the fees associated with its operation, but also with the performance of basic operations on it. We need to find out how much we will pay for the transfer, how much for issuing the card, what is the fee for the card, whether we will pay a commission if we pay cash at the bank’s box office, how much is the commission for withdrawing money at an ATM etc. However, sometimes these are small amounts, in Over the year, it may turn out that a “like free” account is a significant financial burden for us.
Availability to a bank account
If we want to actively use our account, we need to find out whether the bank allows us to use it at any time for us. The best solution in this respect, of course, is online banking . Most banks have it today, thanks to which we can log in to our account 24 hours a day. However, the websites of individual banks are different from each other. So let’s check which one suits us best, which makes it easy to “move around”, where we can count on technical assistance, etc. It is certainly a very important matter, and not everyone is paying attention to it.
More and more banks also offer us mobile banking . Thanks to it, we can use our account in any place where only the Internet network is located. So if we want to have access to it, let’s check which bank proposes it.
Bonuses and bonuses associated with having a bank account
Many banks wanting to encourage customers to open accounts in them offers various types of bonuses and bonuses. What are they based on? We can, for example, get a partial refund of expenses for transactions made through a debit card (money back). We can collect points for completed transactions, which we later exchange for material prizes. The bank can give us, for example, the opportunity to personalize our card and place a photo on it for free.
It also happens very often that account holders in a given bank can take advantage of a better offer for other products. It may be a lack of a credit card fee, a cheaper life insurance offer, a slightly better interest rate on deposits or a cheaper medical package. There are many possibilities here as well as banking products.
The possibility of terminating the account maintenance contract
Before we decide to set up an account, let’s check how the procedure related to closing it looks like. It may turn out that it is not so easy. In some banks, we can not liquidate an account before the specified deadline, and in others, we must pay commission for liquidation. Therefore, let’s find out about it before we open the account.
When deciding to open an account in a bank, let’s not just watch the advertising of bills, because in them it never has to be the whole truth. Before we choose a bank where our payment or retirement will appear, let us thoroughly analyze and count everything. We must also remember that by opening an account at a given bank, we do not sign a lifetime contract with it. We can always close it and transfer it to a bank that will have a better offer for us at the moment.