Archive for May 2018

The banking entities, despite carrying out the same activities, present differences that are decisive when choosing one or the other. For each of the users, your bank will be the best (if it is not, they have a problem) but it does not have to be for the others. It is true that there are features like solvency, commissions and the use of ATMs that may be common when choosing. Of these you want the best. The choice of a bank will be different for each one.

But the ones that really matter to a user are those that cover their needs. A user, who cannot move to the bank, would prefer an online bank, giving more importance to online services than the number of branches or the proximity of these to your home.

Can we belong to several banks? It benefits us?

The choice of bank is free, and you can choose any of them, even more than one. There is no obligation to belong to a single bank; in fact, it is advisable to diversify the money, bankruptcy of a bank or even in case of cancellation for what the State covers.

If we have a deposit of 200,000 dollars, the Deposit Guarantee Fund covers only up to 100,000 dollars per entity and owner, so the best option will be 100,000 in one and 100,000 in another.

When belonging to several banks, different offers are available for new clients that are usually the most profitable during the first months. And finally, within the same entity, we will find a product that is the best of all, so it would be advisable to acquire all the “star products” of each of the banks.

There is the possibility of changing banks whenever you want, but you will have to abide by what was signed in your day. Or on the contrary, it will pay the corresponding penalty for breach of contract.

What should you look at?

As a main point, if you want to do the most common thing that is to deposit money in an account, you must have clear the following criteria to choose a bank:

  • No maintenance fees
  • Do not charge commissions by debit or credit card
  • Allow withdrawing money in any ATM of the world without commissions (or that are low).
  • Take out money when we want
  • No commission for transfers
  • High profitability: high APR

But beyond these characteristics you must take into account other very important points such as, for example, the proximity of branches. If to do some procedure, consult or for information you have to move, this bank will not be recommended for clients.

You must know that Skye bank offers solution to all your problems under one roof, so it’s better to opt for one bank rather searching for different options.

  • Partner links