subject: Basic Bank Accounts Comparison [print this page] The average customer finds himself being flooded with offers from different banks across the world to open an account. It becomes necessary for him to look to a source which enables him to receive a comparative analysis of bank accounts. Starting right from the type of accounts that the bank provides to you the basic account or a guaranteed banking account, you need to be aware of the fees levied by the bank to open your account.
What are basic bank accounts?
Basic bank accounts are part of the government schemes to aid middle class families who might have trouble opening a normal bank account. They appeal to people who are careful about overspending since overdrafts are not provided for a basic bank account.
Parameters of bank account comparison
The age limit remains a vital factor in comparison bank accounts. Some banks set the threshold to be 18 years while others are more lenient and ask the customer to have completed 16 years of age. It is imperative for the customer to choose a bank that gives you the highest yield at the lowest fees.
Further, having a checking and a savings account enables you to get the highest rate of interest on your savings. New customers need to be aware of the fact that a checking account is the account you will be using for your direct deposit and withdrawal, for this reason, comparison banks is mandatory.
This mandates the customer to look for a bank which offers minimal or zero transaction charges. Further, the customer should deem it necessary to check out the benefits and rewards for opening an account with a particular bank. Most banks offer a free day-to-day banking system.
Comparison of Banks - Presence
Customers should make sure that the banking cards are accepted world over. With the whole banking system being taken online, the mode of Internet banking and online transactions become an essential parameter of bank account comparison.
by: Devid Anderson
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