Karlsruhe / Düsseldorf – Withdraw cash, current account, credit card – when looking for the right account, consumers should also take a look at the fees incurred. “When choosing their checking account, customers should weigh whether they are worth the money and, if necessary, change the bank,” explains Christian Urban from the Consumer Affairs Center of North Rhine-Westphalia. Three points that customers should pay attention to:
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Account management and interest
An account is usually not free. “How high the fees are, also depends on the respective account model,” explains the consumer advocate. Online accounts are often free, while branch bank accounts are often chargeable. “Choosing the right account, for example, depends on whether you want a personal contact person or do your financial transactions on the Internet.” Whether a financial institution demands money for transfers or other bookings, plays just as much a role as the amount of the discretionary interest.
Fees for checking and credit cards
A giro card is usually part of the account. “These cards are available at many banks for free,” says Urban. This allows customers to withdraw money or pay in the trade. If you also want a credit card, you often have to pay a fee. “The height varies from institute to institute.” It is also dependent on the services connected with the credit card. In some cases, for example, insurance companies are included. Here customers should weigh well whether they need this protection.
Fees for withdrawing money
Cash at the machine of one’s own bank or from partner institutes is free of charge. However, those who want to withdraw money from another bank sometimes have to dig deep into their pockets: “Some financial institutions charge up to five euros,” says Urban. Consumers should always choose a bank that has enough cash machines in their area. Otherwise they have to pay for each course to the machine.