How much could you save on using your current account? Even over 100 euros per year. Just use some simple precautions. Below in the article we reveal the secret to reduce current account costs to zero in this simple way.
The weapon of awareness
The first thing to do is to check how much is the real annual cost of the current account. Many Italians don’t know the cost of their bill. According to a recent survey conducted by mUp Research, they are over 5 million and 900 thousand, or almost 16% of current account holders.
To reduce costs it is necessary to be clear how much these are. And how do you figure out how much the current account costs? The first thing to do is to understand if a monthly fee is charged on the current account.
It is necessary to check if you pay a fixed amount monthly for the simple fact of having that current account. How? By consulting the bank statement. Or by calling and asking the reference consultant.
If there is a fee, it is good to check if this can be reduced or canceled, perhaps by switching to another bank account. Alternatively, there are banks that offer free-of-charge current accounts.
A hidden cost: the debit card
The ATM is the banking service that is most used, probably together with the bank transfer. With restrictions on the use of cash from € 2,000 and up, digital payments are becoming increasingly popular.
It is important to check how much the bank charges for using the debit card. Attention, we are not talking about its use, but simply about paying a fee because you have it.
On the contract it is written how much is the annual cost. If there is a fee, this can be seen from the account statement. And in any case, the reference consultant can always help. In the case of a fee, remember that there are banks that offer debit cards at no cost.
How much does it cost to withdraw money with an ATM ATMs? Generally nothing is paid at the branches of the lender’s group. It would be better not to have expenses even for withdrawing from ATMs of other credit institutions. If there are any costs, the account statement will show the charge for each withdrawal.
Pay attention to the average stock
For convenience reasons, you may be forced to use ATMs from other banks. If this operation had a cost, it is better to make a serious reflection on the opportunity to find a different solution.
Last move. Check the average balance of the account. If it is under 5 thousand euros throughout the year, the stamp duty is not paid. If it is between 5,000 and 10,000 euros, you pay the stamp duty, but you can avoid it.
How to avoid paying the stamp duty? By opening a new account at no cost. No fee, no cost debit card, free withdrawals in all banks. To find a bank that offers these conditions, just go to one of the many portals that compare rates, and choose the most convenient one. Here is the secret to reducing the costs of the current account to zero in this simple way.
Deepening
The 3 reasons why you shouldn’t keep more than 100 thousand euros in your current account
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