Deposits and bank selection

Posted: August 18th, 2013 | Author: | Money

Banks have this in common, that every now and then change position in the rankings. Some offer new specials and other promotions end. if we are in favor of short-term investments, and think about changing to a bank with a more favorable interest rate is probably very beneficial tempting offer. It should be over it a bit more thought.

EricGjerde / photo on flickr

EricGjerde / photo on flickr

Why? The deposit is not just profit. Sometimes it is also associated with costs. And although the poster will be for us screaming beautiful percentages and we will promise mountains of gold, we have to ask what they want in return. In general, it appears that the special offer is available to account holders of current accounts in the bank, of course, we can not so put together with the deposit, but this might involve some financial liabilities.

Yet another expense may be the payment of money. While pouring them into account in the same bank is generally free, then pour them elsewhere may cost. How much? It depends on the conditions specific in the contract and the price list, sometimes the stakes are simply unrealistic and you may find that you do not pay us to change the bank.

You should also remember that bank employees often have special offers for regular customers or can negotiate with them. Moving due to deposit or promotion is not always so good. You should also bear in mind the duration of the promotion. Is there an agreement on all or only part of it. And what would be the conditions afterwards. Finance is unfortunately an area where we can not look at a single point, and we have to consider a much wider perspective.

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