Fee Trap Checking Account: Savings Potential on Checking Accounts

Many consumers give away a significant amount of money every year because they pay fees for their current checking account, even though this would not be necessary if the bank details were changed. Anyone who finds out quickly finds a financial institution that offers the free guidance of the current account. However, one should consider some important aspects when selecting the bank or savings bank.

Minimum payments and cash withdrawals

 Minimum payments and cash withdrawals

Many banks and savings banks with branches and online banks advertise free checking accounts. For most, however, the cost-free is linked to a minimum monthly payment receipt of a certain amount. If this is not achieved, fees are immediately due for keeping the account, which are often unreasonably high. Therefore, low-income consumers should carefully check whether they reach the required minimum monthly payments before deciding on a bank. Similarly, one should inform oneself about the network of ATMs, which makes it possible to withdraw cash in close proximity. Especially with foreign online banks arise here often problems, because there are hardly any such machines. Then one is forced to use very high fees non-bank ATMs, so that thereby the savings effect of toll-free account management can be completely counteracted.

Disposition credit and additional services

Consumers who often wish to use the discretionary credit line that they have to their checking accounts should be sure to take into account the amount of interest due when selecting a new bank account. For here there are clear differences, while low-cost banks demand relatively moderate interest rates of less than 10 percent, others demand interest rates of 15 percent and more. This can add up to considerable sum in case of frequent overdrafts with appreciable amounts. It may even be advisable to accept account maintenance fees if the interest rates are advantageous. In particular, many savings banks offer giro accounts that require a fee, which enable customers to use numerous additional services, such as purchase discounts or certain insurance policies. Here, a customer should think carefully about whether the use of these services and benefits for him at all makes sense and whether the resulting savings effect offsets the account fees.

Savings through an account change

Disposition credit and additional services

No one should be deterred by the associated effort of changing accounts (-> go to the source). For most of the time he is limited, many banks even offer to take the necessary correspondence. And even after changing the bank details, you should check from time to time whether the conditions for the account management still fit your own needs.

 

Good Times for Shareholders – Credit-Financed Investments Increasingly Attractive

 

After the “stock market crash” in 2011, caused by the global banking crisis (which was driven by the European debt problem initiated by Greece, Portugal, Ireland and Italy), the markets have sent back very positive signals in recent weeks. The prices of the various share indices have risen sharply again and the confidence of investors has risen again. Private investors, for example, have recently returned to the markets, where they have sought opportunities for promising investments. After all, it has always been a golden stock market rule that the stocks that have lost the most will most often perform the most well (with substantially satisfactory valuation) in the overall positive markets.

Attractive returns and opportunities of significant outperformance

Attractive returns and opportunities of significant outperformance

From this point of view, there are certainly many titles that present themselves as particularly promising and offer good opportunities for attractive returns and a significant outperformance. Quite a few private investors are therefore even taking out loans to venture into such potentially exciting investments. Basically, there are many opportunities to invest nationally or internationally. No matter if you are focusing on the DAX price, the DOW JONES or the NASDAQ, these are certainly good times for brave investors – whether at home or abroad.

Inform on the Internet and build up basic knowledge about the stock market

Attractive returns and opportunities of significant outperformance

Those who have not yet dealt with the issue of the stock market in a comprehensive and well-founded way can find out about the Internet on websites such as www.wallstreet-online.de. Here you will find helpful articles and explanations on all relevant topics around the topic of stock exchange and finances and can quickly build up a good basic knowledge. Without investing this immediately on the stock market – because that may go well, but is certainly risky. You should therefore study the matter a bit and do your research thoroughly before taking the step to invest.