save 100 euros a year, but what features should it have? – Corriere.it

Zero fee current accounts are accounts in which i costs for the monthly fee and commissions are zero. As the experts of SOStariffe.it also point out, it is increasingly common to find products with these characteristics, especially among banking institutions that operate online. These accounts generally can be managed online or via app and allow you to carry out the typical operations of an account – transfers, withdrawals, direct debits – at no cost. No fee accounts are the best solution for save on bank charges: considering that the average expense for traditional current accounts is around 100 euros a year, the savings that can be achieved are considerable.

What are the differences between a traditional account and one with no fees

The differences between zero-fee current accounts and traditional ones they concern both the costs and the functions of the products. While it is true that zero-fee accounts do not require the payment of fees or commissions, it is also true that, unlike what happens with standard current accounts, banks often set limits on the number of free trades. In other cases, however, the operations carried out online are free, while the payment of a commission is foreseen in the case of operations carried out over the counter. In terms of functionality, a traditional current account allows you to carry out all possible operations, including the purchase of securities or the issue of cheques. Zero-fee current accounts, on the other hand, have a few more limits.

Advantages and disadvantages of zero-fee checking accounts

Zero-fee accounts are a great solution for those who use the account to carry out basic banking operations and for those who have alimited operation. An account of this type is especially advantageous for those who prefer to manage their money directly, making online transfers or withdrawing cash from ATMs. One of the disadvantages of zero-fee accounts is the fact that banks often set limits on the number of free operations and on the additional services the saver can access.

What to evaluate to choose the right zero-expense account

To be able to find the zero-expense current account that best suits your needs, analyze the characteristics of each account and evaluate its pros and cons. Since the annual fee and commissions are free, the only cost to consider is that relating to thestamp duty. In order not to pay the 32.40 euros required by law, it is possible to keep the average balance of the account below the threshold of 5,000 euros per year or to choose one of the accounts in which the bank bears this cost. When comparing multiple zero-fee accounts it is also helpful to evaluate the opening mode and any limits on the number of free operations. To find the right bill, it is essential to consider your own habits: for those who often travel to the EU it is useful to choose an account that offers free withdrawals throughout the euro areawhile those who want to be able to use a credit card can consider opening an account that allows them to get it for free.

How to compare zero-fee accounts

By comparing several zero-expense current accounts, it is possible to identify the solution that best suits your needs. Depending on the type of use you make of the account, you can move towards i zero-fee accounts with basic functionality Or consider zero-fee accounts that also offer one deposit line, for example. Using the SOStariffe.it comparator you can check at a glance even if there areor current promotions. You may find that by opening a specific account you can get cashback or that there are additional services and promotions available for new customers.