In this article we bring to you a guide to select the best bank account, because we understand that if you are trying to choose what type of account fits your needs you should compare all the benefits that offers each of one before making any selection; also It can also help when you want to switch your bank account.
We recommend you to get an account with no monthly fee. Some banks, give you the option to keep all your savings and retirement accounts in the same place as an incentive for you, allowing you to avoid this charge with a minimum balance. The good news is that these days are many banks that offer free or have avoidable fees,
So if you have a bank account that charges you $10 a month automatically just to hold your account, you should consider making a switch because this could save you $120 a year.
Incentives for clients
Most banks offer deals and incentives to attract new customers and make happy their old clients, but there are banks that do not, so before selecting be sure to check if there are some kind of strings attached such as a cash incentive for being client, higher interest for a period or a monthly credit, no matter how little can be.
Basic bank accounts
If you have a poor credit record or income is to low, you can select a basic bank account, which are often used as a first step before having a current account. A basic bank account allows you to pay your bills by Direct Debit, receive payments such as salary, but doesn’t have an overdraft facility.
Most people choose a current account for manage their money because it allows them to pay bills by standing order or Direct Debit, pay for things with a debit card, receive automated payments or benefits, withdraw money from cashpoint machines and have access to an overdraft.