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  Last Updated on 23-10-2018

The bank account you deserve


Nowadays most of us have a bank account. But whether every cardholder is satisfied with this one? Of course the answer is no. Different hidden charges, annual payments and other similar things are typical situation for many banks. Probably it is time to change the situation and choose a better financial establishment. This article is aimed to tell you some points you must take into account when creating a bank account.

We will consider two types of accounts: checking account and saving account.

Checking account
  • Maybe you are used to paying fees while conducting financial affairs. The most spread is monthly fee. However, financial advisers recommend customers to look for an account without such fee or one where you can avoid it via something like direct deposit. For example, a range of banks offers free services to attract more customers. Find out them but choose a reliable bank with a good rating, reviews and sufficient financial component. Another good advice is keeping accounts at separate banks to minimize risks.
  • Also, it is better to find a bank which allows creating accounts without requiring a minimum balance. Minimum balance is a minimum amount of money which must be on your account. This is not very convenient especially if you do not have much money. Let yourself to withdraw as much money as you need and when you need it.
  • Avoid banks which set up transaction or withdrawal limits. It is because you may face a situation when such restriction spoils all plans.
  • Another advice is to use services of bank which does not charge you for withdrawing money. Moreover, some of them can reimburse fees imposed by other banks.
  • A good advantage of the bank is online access to the account through the mobile app. So, do not miss this opportunity.
Saving account
  • Take care of your money and trust them to the insured financial institution. Sometimes banks are face difficulties and become unable to pay back the money to depositors. To avoid such trouble check if your bank is a member of FDIC or NCUA.
  • Make sure that you can withdraw your money when you need it online app or via ATM. It is important in case of a real emergency.
  • Choose a bank that offers a good deposit rate, but at the same time has minimum charges. This is a very important subject to inflation.
  • As a checking account this account also must have online access to manage.

As you can see it is possible to save more money. You need just spend a little time to choose a proper financial institution.