For a more affordable online bank: basic current accounts with no charges
The news is confirmed by the Italian Bankers Association: online bank services and traditional credit institutes introduced a basic current account with no charges with the aim of increasing the financial inclusion of families and retired people. The decree law of June 19th, 2018, of the Ministry of the Economy and the Finance, implements the European directive about the European basic current account expanding the subjects that use traceable payments methods, with regards to families, retired people and to those who live in periphery.
The basic current account with no charges is thought for retired people with an allowance of the National Social Insurance Agency, lower than 18 thousand euros gross annual, and for families with an equivalent economic status indicator lower than 11.600 euros.
Furthermore, this particular typology of current account, offered by traditional and online banks, can be required by all european consumers, included homeless people and asylum applicants. Which are the characteristics of the basic current account? First of all, the fact that it has no charges: there’s just a “low cost” annual fee with no stamp duty nor commissions on transactions. However, the free operation transactions are limited, the owners will be able to do more, but with an additional cost. The basic current account includes Sepa direct debit with no limits in Italy and Europe; 36 annual operations for transfer received (for pensions and salaries ) and 6 wire transfers; 12 annual transfers for daily payments such as bills; 12 free deposits of cash and 6 withdrawals.
Moreover, the basic current account with no charges provides a communication about transparency and 4 sendings of the account statement. The debit card will be free and permit operations in its own ceiling with no limits.
If you’re looking for an online bank able to offer you an advantageous account, Trustcom Financial is the service for you: transparency is our key point. With us you will always know “what” you’re paying for and “how”. For further information contact us.