What is the best bank account for me?
A bank account can solve many operations in your day to day. Among them: send money to a family member, pay for a service on time and from your home, pay your salary directly, among others.
However, there are currently a variety and quantity of financial products that complicate the choice. So, we ask ourselves which one should I choose?
For this, we select some characteristics of bank accounts, which you should study before defining. In addition, we present some questions that you should ask to choose the one that meets all your needs.
First TIP: What will you use it for?
To select the best bank account, you will need to have defined its function. Because? Mainly, because it is not the same to contract an account to save than to operate with your money on a daily basis.
Therefore, think about exactly what you are going to use it for. Among the most common uses are: direct debit of payroll, payment of services, transfers, deposits, savings, etc.
Also, you may be needing one of its associated products, such as: a debit card, operating your money from your cell phone, among other products.
Second TIP: Select the type of bank account
Once you know what the purpose of opening your bank account is, select the one that best suits your needs. Among the possible options, there are the following:
- Current account: This type of bank account is designed to have your money on a daily basis. In this way, you will be able to operate with the money in your account to make payments, transfers, withdraw cash, etc.
- Savings accounts: They are the ones indicated to keep your money saved. You can access remunerated savings accounts, for which you will obtain a percentage of interest depending on the time your money is immobilized. However, you can have it whenever you want.
- Payroll account: These are the accounts used to deposit a payroll or pension. Also, they can be used to domicile your bills for electricity, gas, credit cards, etc.
- Fixed-term deposit: Through these accounts you can get better benefits for leaving your money immobilized. They are ideal for long-term savings.
Third TIP: Find out about its costs, fees and commissions
All financial products have costs that we must face. Among them: opening or contracting commissions, fees for operations (transfers, deposits, etc.), collection expenses, etc.
Therefore, it is very important that when defining your bank account you take into account all these expenses. Keep in mind that currently, there are 100% digital banks that offer you bank accounts with zero costs.
Fourth TIP: Compare between bank accounts
If you already know what you are going to use it for and you have taken a tour of the financial products of the main banks, then it is time to compare.
What are some of the accounts you should be aware of? Among the online accounts, pay attention to the bank account of Banco Sabadell, ABANCA, Tomamos Impulso and Openbank.
These accounts do not have opening costs, nor will they charge you to request a debit card. In addition, you can use them to operate on a daily basis, or to save, as in the case of the Próxima account, from Tomamos Impulso.
Fifth TIP: Define the one that best suits your needs
Now yes, you already have all the necessary information to define which is the most appropriate financial product. Take into account your needs and select the one that offers you the best products and services.
Also, check the costs of each one of them, the rates of the operations and choose wisely!
We hope this tour has helped you.