When evaluating theopening a bank accountthere are some considerations to be made on costs, on which the choice of the account to subscribe for the management of one’s savings may depend.
A first fundamental information to know about current accounts, whether they are opened in a branch or online, concerns precisely the cost of opening: there are no charges for opening a current accounte and the same rule is applied when you decide you want to close it.
The analysis of costs of a bank account starts from the division between:
- fixed costs;
- variable expenses.
Let’s see in more detail what it consists of and how to be able to save on a monthly or annual basis.
To find out about the best free current account offers, click here
Difference between fixed and variable expenses of a current account
The fixed expenses of a checking account are those that must be supported in order to keep the account active: the first refers to monthly management fee. This is a fixed periodic cost, which is paid every month, or on an annual basis.
This is not an expense that could change over time, as the cost is set by the contractual terms: this will allow you to monitor this expense without receiving surprises at the end of the month or year.
Another expense to be incurred, but only for those who exceed the average annual stock of 5,000 euros, is thestamp dutythat is a fixed cost of 34.20 euros for natural persons (and 100 euros for legal persons) which must be paid for the simple fact of having an active current account, in one’s own name.
Find out which is the cheapest current account
There are, then, some variable expenseswhich change in relation to the chosen credit institution and are related to:
- at fees for completing transactions such as wire transferscash withdrawals at ATMs of other banks, domiciliation of bills, issuing of checks, and so on;
- upon the issue of a payment cardwhich may also have a maintenance cost, or a monthly or annual fee to be incurred;
- l’sending the paper statementwhich can be received every 3 months, every 6 months or only once a year;
- any costs for receiving other communications, or for issuing a second card in the event of theft or loss of the first version.
There could also be costs related to interest on credit cardsin the cases of use of one or more revolving cards: the latter allow the payment in installments of the expenses made (in practice, these are small loans), to which fixed interest applied and established at the time of the card application.
Both on fixed expenses and on variable expenses it is possible to succeed save effectivelythrough the choice of an online current account: below we will describe what are the main advantages that characterize them and how to evaluate the different alternatives available on the market.
Compare the best online current account offers to save
Best current accounts with no fees to save
And current account is defined as zero expenses when it does not provide for a monthly management fee, or offers the possibility of being able to reset it by respecting certain conditions (usually consisting in carrying out a certain number of transactions in a certain period of time).
Usually, this opportunity is made available by online checking accountsso called precisely because they do not need a physical branch neither to be activated nor to be managed.
In fact, they can be controlled at any time in total autonomy, remotely, via your PC (by logging in to the customer area of the bank’s website), or from the free dedicated application.
And online account it also allows to reduce other costs, such as for example stamp duty and commissions provided for canonical operations such as wire transfers (which can be done directly online) and cash withdrawals, even at ATMs of other credit institutions.
Thanks to the use of the online comparator of SOStariffe.it specialized in the comparison between current accounts, the following solutions have been identified to subscribe if you want save on your account.
It is about:
- Widiba current accounta digital bank that offers a zero euro fee for a period of 12 months, with free online transfers, certified e-mail and digital signature;
- My Genius di UniCreditonline account with free fee with a debit card in the eco-sustainable version included, which includes free online SEPA transfers and bank accounts;
- WebankBanco BPM’s online bank, with which you can open an account with a free annual fee in just a few minutes, which also includes credit cards, debit cards, online transfers and withdrawals at the counter at no cost.