Owning more than one bank account presents itself as something natural to most customers. Many are the ones who accumulate bank accounts for several reasons. However, these reasons have not always been thought out, analyzed, weighed, or will guarantee that you will make money from one more bank account.
Most of the time everything happens by chance, either because you already had a bank account from a very young age or because it was recommended to open it at the first job. There will come the day you think about applying for a home loan or a car loan and finding the best proposal in a bank than the usual. Also, the day will come when you change jobs and, again by recommendation, open another bank account to receive your salary.
As a rule this is the most common account opening scenario however there are many others not framed with a strategy to make money
WHEN TO MAKE MONEY WITH A NEW ACCOUNT
Making money by opening a new account does not mean you will receive more money, it may simply be because you will bear less costs with it.
Therefore, you will be earning money whenever you open a bank account for the following reasons:
- Because he found better proposals for credit, with lower interest rates and lighter commissions;
- Because you have savings and the new bank pays you better interest rates on term deposits;
- Because you have found a bank with better commissions on regular services;
- Because it needs to diversify and gain bargaining power;
- Because you are not charged annuities for your bank cards, namely, ATM or debit card and credit card;
- Because they value their wages more than they pay their bills to order;
- Among others.
Whenever you open an account for the reasons listed above you are making money because you are valuing your money and looking for a valid way to circumvent the cost of having a bank account.
However, many claim that having more than one active bank account is a plus for the customer banking, not only because they can benefit from several advantages in each bank, but also can choose which bank offers the best service and profitability. However, it is necessary to consider how much it costs to have a more bank account, not only quantitatively but also qualitatively.
The service should also be considered, since at first sight all banks are advantageous, however, with the evolution of the banking relationship there is little flexibility to respond to the customer banking with solutions rather than problems. So, ask your account manager how the bank will react if a certain event of which experience has taken place.
HOW TO OWN MORE ACCOUNTS AND AVOID COSTS
If the reasons for opening a new bank account were thought out, weighed and analyzed, then you know that for the sake of your monthly budget will not incur extraordinary expenses.
Such recognition allows you to focus only on the reason for the opening of the new account, that is, if you opened an account to have your best paid savings then you do not need the means to move that account. It focuses on meeting the minimum requirements for not paying maintenance commission and the profitability of your money.
While awaiting reviews the bank
The method of care and concern of the customer and of course the price list. If you find advantages, you can consider moving your account to that account and canceling the previous account.
This process leads you to think twice as you have to ensure that you will not bear extraordinary costs with the new account nor will you lose any privileges with the maintenance of the old one.
This is a clear example of how to apply the various reasons to open an account and make money, because if your goal is to get benefited then focus on this goal even if you have to coldly decide which of the accounts to keep active. So ensuring that you will actually make money is to worry about looking for answers to the following questions: