Payment accounts is a banking product where many expenses can be recorded by their holders. It is also essential for relate to other financial products, for example, credit or debit cards or time deposits. Therefore, it is practically unthinkable not to have a product of these characteristics due to the many contributions and services it offers to users.
From this general scenario, there are a series of benefits that are never lacking in a payment account. And that we are going to expose them to you in this article so that you can assess them from now on. Because it may be that some of you are unaware of them at this time and there is no doubt that they can be very useful to preserve your general interests as a user. Where, of course, it will be very important that do not have the account in a situation of overdraft for the simple reason that you can pay many, perhaps excessive, commissions for these negative entries charged to your account.
In any case, one of your main priorities will be to subscribe an account of these characteristics that is exempt from commissions and other expenses in its management or maintenance. As a very useful strategy to save a few euros every year through an outlay that you can avoid through the application of certain strategies in the management of this banking product. Beyond other technical considerations that are more typical of the use that you are going to give this savings account. Where it will be fundamentally that you take them into account to contain this kind of special expenses.
Expenses of the account in charge
Some of the ones that are most common among bank users are the ones that we are going to explain below and that you are surely very familiar with. It is precisely for this reason that you should review them below so that you do not forget any details of what they constitute as charges through a debit or bank account. Among them what we expose you below:
Account maintenance: it is the entity that manages the account so that the client can operate with it.
Issuance and maintenance of a debit card: the entity provides a payment card associated with the customer's account. The amount of each of the operations carried out with the card is charged directly and in its entirety to the customer's account.
Issuance and maintenance of a credit card: the entity provides a payment card associated with the customer's account. The total amount corresponding to the operations performed with the card during an agreed period of time it is fully or partially charged to the customer's account on the agreed date. In the credit agreement formalized between the entity and the client, it is determined whether interest is applied for the amounts arranged.
Discovered in the account
- Discovered express: the entity and the client agree in advance that the latter may have funds when there is no available balance in their account. The agreement determines the maximum amount that can be made available and whether the client must pay commissions and interest.
- Tacit discovered: the entity makes funds available to the client that exceed the available balance in their account. In any case, there is no prior agreement between the entity and the client.
- Transfer: Following the client's instructions, the entity transfers funds from the client's account to another account.
- Standing order: following the client's instructions, the entity periodically transfers a certain amount from the client's account to another account.
Withdrawal of money from ATMs
Cash withdrawal to debit by card at ATMs: where the customer withdraws cash from their account through an ATM of another entity, by card, on account of the available balance.
Cash withdrawal on credit by card at ATMs The customer withdraws cash through an ATM of his entity or another entity, by card, when the funds are covered by a credit line open to the customer and regardless of the available balance in the account.
Alerts service (SMS, email or similar): the entity sends information on movements made in the customer's account by SMS, email or other similar technology. Negotiation and clearing of checks. On the other hand, we cannot forget that the entity takes the necessary steps to obtain the collection of a check.
Return of checks: in this case, the entity performs acts caused by the non-payment of a check by another entity.
Expenses in operations
Another aspect that must be considered in this class of financial or banking products is the disbursement that it will cost its holders. Because they normally carry rates that would require them with account charges that can range from a few euros up to about 200 euros in the more expansive models. So that in this way, these people can carry out all the operations and movements that we have referred to in the previous sections. And that many of them may be caught by surprise at the charge that they will be presented from their usual bank.
The good news, on the contrary, that these individuals will have is that more and more payment accounts are marketed free of commissions, penalties and other expenses in their management or maintenance. So that in this way, you can save many euros every year and what is more important, without having to give up any service or provision by this banking product so essential for all our needs. That is, completely free from the beginning. Being at the end of the day what we are looking for above other considerations of another nature.
Conditions in your hiring
To achieve these long-awaited objectives, that is to say, eliminating the expenses of the account in charge, various strategies of different nature can be developed. One of the most common at the moment is materialized through the payroll direct debit or regular income in the case of self-employed workers. These charges will automatically disappear from our accounts and what is more interesting, immediately. Likewise, it will allow us to enjoy other banking services or products for free. As for example, with credit or debit cards.
On the other hand, we cannot forget that another system that we can use to remove these expenses from the account in charge is based on subscribing to these management models with the proposals that include the commission exemption and other expenses in its management or maintenance. In this sense, accounts that incorporate this feature that is so beneficial for our personal or business interests are becoming more and more frequent. Because in effect, this banking product is very sensitive so that it does not cost us a single euro.
With bonuses on invoices
Another of the contributions that accounts in charge offer us is that we can domicile any kind of receipts or household bills (electricity, gas, water, mobile telephony, etc.). Without any kind of restrictions and with the great advantage that in some savings models there is even the possibility of a part of the amount charged on account being returned to us. It is true that the amounts are not too demanding and only reach up to 3% on them. In addition, with a maximum limit on returns that is generally established around 150 or at most 200 euros.
In any case, to achieve this commercial strategy on the part of the banking entities, it is necessary to contract a savings or checking account that allows this kind of accounting operations. Because most of them are not enabled to originate these refunds in the account charges for this concept. Only in some models is this suggestive possibility offered to achieve greater savings every year. Regardless of the charges that are made regularly and the balance that this savings product has.
With all the features
In any case, you will have been able to verify the many things that you can do with your account in charge and surely that from now on you will have more ideas to put them into practice from this powerful tool that are available in any financial institution. Beyond other technical considerations that will already be the subject of other articles so that you can understand it better.
As a conclusion, you will surely come to an idea that you cannot live without an account of these characteristics. They are essential for any kind of relationships with the always complicated world of money. On the other hand, do not forget that it will also allow us to enjoy other banking services or products for free. For example, credit or debit cards, investment funds or to make any kind of transfers, whether national or outside our borders. It is a practically indispensable product for everyone.