Current account, costs rise: here's how to pay less – RB

Current account, costs rise: here’s how to pay less – RB

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Current account, costs: here’s how to pay less – RB

Current account, costs rise: here’s how to pay less – RB We have explained the details of the news, step by step, below. Current account, costs rise: here’s how to pay less – RB Keep reading our news. Here are all the details on the subject.

Current account, costs rise: here’s how to pay less – RB

If a bank account costs on average 90, 2 $ per year , those online – i.e. aimed at consumers who intend to carry out transactions mainly through the internet – cost only 21, 4 $ (and compared to 2019 have decreased by 1 ,2 $). Bank of Italy notes this, explaining that these expenses, while not constituting a distinct contractual case, are of interest due to their particular characteristics tariff. But compared to traditional bank accounts, the difference is significant.

The expenditure of online accounts , explains Bankitalia, “is significantly lower than that of conventional bank accounts : the gap, which stands at just under the 70 $ , derives mainly from a cheaper tariff structure, rather than from the different composition of the basket of services used “.

Current account costs: the various expense components

Examining the various components of expenditure, the largest difference can be seen for the basic fees and depends on two factors : the lowest percentage of customers required to pay (the 47, 5% of customers on the internet against 70% of the traditional one) and the lower amount of the basic fee of accounts signed in the branch.

The lower cost of issuing and card management of payment also contributes. A more favorable tariff profile is also observed in the context of variable expenses, mainly for accounting entries (which are free in online accounts), cash withdrawals from ATMs , wire transfers and automatic payments.

“For online accounts – explains Bank of Italy – the increase in fixed charges is less pronounced than the corresponding decrease in expenses variables “. Similarly to conventional accounts, however, there is a general decrease in the transactions carried out , with the exception of wire transfers; at the same time, the cost of the basic fee, which is a significant chapter, increased due to the higher percentage of customers required to pay.

Current account costs: can you spend less?

On the other hand, as regards traditional bank current accounts, the increase in fixed expenses is mostly always attributable to basic fees. Variable expenses, on the other hand, fell due to the decrease in the people who went to the counter during the pandemic. If, on the other hand, the number of transactions carried out had remained constant, the increase in expenditure would have been equal to almost 2 $ per year .

But then, how is it possible to reduce the management costs of the current account if you do not take advantage of the so-called internet banking ? There are some brief but wise tips to keep commission costs as low as possible. Given the Bank of Italy report, the first thing to do is therefore to make use of the online channels as much as possible for any need.

Another precaution to be put into practice is that of domiciliary the bills , no longer receiving useless paper packages through mail. Then you must always withdraw money by debit card (not credit card) and you must always do it at the dispensers belonging to your credit institution in order not to incur commission costs. Finally must never go beyond the ceiling that has been agreed with your bank and do not go into debt . By following these simple rules, it is possible that you will also be rewarded in a completely unexpected way, as happened for Christmas to thousands of unbelieving citizens.