Although most people have a bank account, that does not mean everyone knows all kinds of bank accounts and what they offer. It is easy to get lost with the different options offered by banks. So this post can be help you choose yours.
The checking account is a type of bank account that allows more transactions. In this type of account, the client can make deposits and withdrawals at any time without the need for prior notice.
In addition, the checking account is ideal for anyone who wants to use credit cards, debit cards or check stubs. The current account transactions can be accompanied by an extract – which can be withdrawn in an ATM or displayed by digital means.
Loans and financing can also be requested through the checking account. For regular workers there are two types of checking account:
Free Current Account – The Central Bank requires all banks to offer a free mode of checking account. It needs to provide basic monthly services, such as:
- Debit card;
- 10 check sheets;
- 2 extracts;
- 4 lootings (in the bank teller or ATM);
- 2 transfers between accounts of the same bank;
- 2 transfers between accounts with the same owner;
- Unlimited consultations over the internet.
Current paid account (standardized service) – In this case there are two options: the customer can choose to pay each surplus tariff individually, or it is possible to opt for a surplus service package. Therefore, if the customer opts for the current account service paid, we must analyze how many extra services will be needed.
In the case of students, the banks offer another option of checking account: the university account.
Banks are interested in opening special accounts for students. This is based on the fact that they are likely to receive higher salaries after graduation.
The advantages offered vary according to the contracted bank. In general, the university account works as a checking account with less fees.
The advantages commonly offered are:
- Free rates;
- Exemption from fees;
- Proof of income is not required;
- You can make four withdrawals and two transfers per month (free of charge);
- Some banks offer credit cards and overdrafts at no additional charge.
The digital or digicontact account functions as a checking account, however, the customer does not use a physical agency. Transactions can be made online, as well as 24-hour ATMs.
The wage bill is opened by the employer at the bank in which he wishes to deposit the employee’s salary. The account is free and the employee can request the transfer – also free of charge – of the salary to his checking account.
The services provided by the salary account are:
- magnetic card;
- account maintenance;
- 5 withdrawals per deposited salary;
- 2 monthly statements;
In Brazil, the savings account is the most used investment. When opening this type of account, the person has the goal of saving money, so it is not possible to receive salary in the savings account.
In addition, it has only a few basic monthly functions:
- 2 serves;
- 2 transfers;
- 2 extracts.
Anyone can open a savings account – even if they are down – and banks can not charge fees for this service.
Savings usually yield 0.5% per month.