Where should you keep your savings, at the bank or at the post office? Answering this question correctly is important to reap certain benefits.
Deposit money – oipamagazine.it
Where to keep savings
Italians have always had the habit of putting savings aside to find them in times of emergency. Unfortunately, given the economic crisis that has been going on for some years, they manage to save very little to be able to put money aside.
However, when they can they entrust their savings to safe institutions such as bank and post office. But which of the two alternatives is more advantageous? In order to define which of the two solutions is more convenient to set aside savings, you must first of all compare the various offers proposed by both.
Where should you keep your savings-oipamagazine.it
Both the bank and the post office offer various proposals for keeping money in the short or long term, depending on your needs. Let’s see what the proposed solutions are which of them are more advantageous for savers.
Solutions to keep savings in the bank
The bank offers a series of products which are usually divided into:
Traditional current account – ensures full operations but does not bear interest; Deposit account – it does not offer operations, however it also ensures high interest depending on the product to which you choose to join.
Experts say that keep money in the bank up to 100 thousand euros you are assured of having them safe as if the bank fails the guarantee of the Interbank Fund intervenes.
The products offered by the bank just mentioned they have costs. For example, the current account has costs that have increased by 7% to date. Many opt for online management, which has taken over for some years, to save up to 129 euros a year compared to physical accounts.
Various factors weigh on this increase, such as for example the annual fee and the fixed costs relating to the actual current account. Also commissions for making transactions over the counter have grown, as have those for checks and withdrawals from ATMs.
To date, withdrawing money from another bank costs around 2 euros for traditional ones and around 1.30 for online ones.
Solutions to keep savings at the Post Office
Even the post office offers various products to preserve savings. To begin with, there is the Postal Savings Book where you can pay the money but whose returns are negligible.
The Smart version of the postal passbook is currently available, but it is not covered by the Interbank Guarantee Fund.
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Then there’s the BancoPosta account which allows you to carry out any operation both online and at the counter, but even this does not pay off. Other options are prepaid cards such as PostePay, among which the most common is the Evolution card as it has an IBAN and allows you to do any operation, from bank transfer to payroll credit.
According to experts, an optimal solution to preserve savings are the Postal bondsoffered by the institution to keep the money on deposit and obtain a certain return.
Even choosing to keep the money at the post office, you have to consider that there are costs. At the moment an account postal costs about 58 euros per yearat least 5 euros more than last year.
There are however exceptions. For example, a basic BancoPosta account in the standard version has a fee of 30 euros, but for customers who have an ISEE under 11,600 euros, the fee is free and they do not pay stamp duty.
For retirees the The basic account provides for a free fee of up to 18,000 eurosincluding a number of operations to some services.
2023-09-02 19:25:44
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