A Guide to Getting the Most from your Bank Account
With the invention of the Automated Teller Machine (ATM) over 40 years ago, it has become increasingly easy for people to access their hard earned cash when banks are closed. Indeed, the days of storing our money under the mattress are long gone and with cash machines on nearly every street, in garages and in shops, getting access to our funds is easier than ever. Plus, with the advent of the ‘chip and pin’ era, it’s possible to buy just about anything without ever seeing any paper or coins.
Furthermore, pretty much all employers will only ever pay salaries directly into a personal bank account via Bankers’ Automated Clearing Service (BACS), so there’s no getting away from the need to have a bank account.
All we need these days is a bank card and we’re good to go. The internet too has enabled people to manage their money better than ever before, with the need to wait in bank queues on our lunch hour now a thing of the past. We can transfer funds, pay bills, view statements, set up direct debits…all from the comfort of our own home.
Such is the proliferation of internet throughout society, that recent research showed that around sixty percent of consumers expected to apply for a new bank account on the Web, rather than the more traditional means of visiting a local branch.
The role of the internet doesn’t stop there though. Well before we even get to the stage of setting up a new bank account, the Web offers a fantastically rich resource for those wanting to get the most from their bank account.
Just a little research will reveal the sheer wealth of different accounts out there. From simple, free bank accounts that offer a basic deposit/withdrawal facility, cash card and online access, through to premier accounts that offer car breakdown cover, travel insurance, mobile phone insurance, interest free overdrafts and a whole host of other inclusive services, there certainly is a lot of choice.
Of course, such accounts come with a monthly fee attached and they may not be for everyone. It really is a case of working out which of the services will be of benefit and which won’t. However, any initial reservation about having to pay for a bank account may soon vanish once you work out how much could be saved over the course of a year.
The need to compare bank accounts before making a final decision shouldn’t be underestimated, as each current account is unique. What works for one person, may not work for someone else and as with anything in life, it certainly pays to shop around.
Adam Singleton writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content. Article Source:http://www.articlesbase.com/personal-finance-articles/a-guide-to-getting-the-most-from-your-bank-account-1364197.html
