Online current account: a modern and cheap alternative

Online current account: a modern and cheap alternative

One of the main features of an online current account is the affordability, both in terms of management costs, commissions and optimization of bureaucratic time.

Since last year, the expenses for the management of traditional current accounts have increased, reaching € 86.9, € 7.5 more than in 2017. Even postal’s current accounts have increased and this factor has greatly favored the spread of online counterparties. As for home banking, on the other hand, operating costs are around € 15.5.

According to an analysis carried out by the Bankitalia, the increase in these expenses is mainly due to basic fees and debit cards, that is the ATM. Furthermore, another determining factor is the joint growth in the number of transactions and commissions applied, both on automatic payments and online transfers. The numerous changes to the contractual conditions of the current account imposed by the banks, in fact, led to an increase of transfer’s commissions, of withdrawing fees for debit and credit card or Pos payment.

These are some of the main factors that have led to an increase on those who have decided not to outsource their finances to traditional current accounts but to online ones. One of the main services on which an online current account is based is the banking app, which allows you to control and carry out banking transactions directly from your smartphone. In fact, any information on the balance or movements is available 24 hours a day, it is not necessary to request an appointment and there aren’t waiting times.

This new frontier of finance management is no longer just a utopia, but represents a modern, fast, effective and economic alternative to the traditional system, which relieve the bureaucratic components and offers a greater margin of freedom, customization and dynamism to the customer.

For more information on the functioning and advantages of an online current account, do not hesitate to contact us.