“Free” personal accounts-where to look for hidden fees?

Posted: August 15th, 2013 | Author: | Money

Almost every bank is now offering free personal accounts, although in practice it is rarely these bills are actually free, without any payment conditions. And where to find the hidden costs? First of all you should start by saying that most of the bills would require us to regularly pay on account of a certain amount, usually the amount fluctuates around 1000 pounds, so if you get on a payment account, then it will be free indeed.

epSos.de / photo on flickr

epSos.de / photo on flickr

Another cost that often we have to pay a fee is for payment cards. Many banks can protect themselves from it, provided the exercise of one or more non-cash transactions per month. Since many stores offer payment terminals, it’s not too much trouble. On the other hand, may prove troublesome charges for the use of an ATM. Many banks offer free withdrawals only in their ATMs or partner sites, you should pay attention to it, because fees for payments generally start at 5 pounds, and can range up to a few dozen.

It is worth noting in particular the payment, for example, the nationwide network and the like. If we consider such a possibility, it is useful to know charges for taking money from ATMs abroad. Another thing for which often will have to pay the “free money” are account transfers. These are usually free to the accounts in the same bank, but if you want to transfer money anywhere else, then we have to pay. Another thing worth mentioning is the service department. It happens that deposits and withdrawals on your account at a bank tend to be paid for, which can be considered a huge disadvantage. On the other hand, If we don’t do it we cannot feel it (although it is always worth having the possibility of withdrawal of funds at a bank).

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