The challenges of the current economy reinforce the need for people to escape unnecessary spending and tariffs. But is there really a way to have a current account without fee?
It is a fact that more and more flexible and attractive institutions are emerging for the consumer's pocket. The trend is that models in a bank account maintenance cast will become outdated! That is why digital banks have won over the youngest share of the population.
So the answer is yes. You can have a bank account without having to pay monthly fees! And to help you, we will show in this post:
- what the law says about bank fees;
- how to migrate to the free plan;
- which banks offer this possibility.
Be sure to follow!
How does a free checking account work?
Did you know that current account without tariff is it your right, not a privilege?
In accordance with Central Bank Resolution No. 3,919 / 2010, all national banks are obliged to offer a free checking account for individuals. This account needs to provide essential services such as:
- debit card;
- 10 check sheets per month;
- duplicate debit card;
- up to 4 withdrawals per month;
- up to 2 extracts per month;
- conducting consultations via the internet;
- up to 2 transfers between the institution's own accounts per month;
- check clearing.
In other words, the customer is entitled to use all of these services free of charge, as long as he respects the monthly limits of each service. If the person does not use a check or credit card, for example, the institution cannot charge for these services.
Opt for essential services package it's worth it when you don't do a lot of transactions over the month.
So, it is possible to spend less without having to change banks! The path is talk and review the rates you are payingin order to identify which ones are really essential.
However, if you don't get any reduction, consider changing your institution or opting for a digital checking account.
In the next topic, you’ll see what the main fees charged by banks and if it’s normal for them to charge you for maintaining your account.
If you want to create new financial habits, keep an eye on the text!
What are the main fees charged by banks?
The collection of tariffs generally happens in 3 types of situations:
- priority services, such as credit card, foreign currency exchange;
- special services, such as FGTS and PIS / PASEP;
- differentiated services, such as charge and top-up of prepaid card, differentiated statement, declarations and others.
Is there another way for you to get a current account with no tariff and no annual fee?
The amount of account maintenance depends on institution to institution. If you are university, rates are usually lower. In this case, you must prove that you are enrolled in a higher education course.
THE salary account it is an alternative, albeit a limited one. In addition to being mandatorily opened by the employer, it only allows deposits from the paying company and payment of bills. Other services, such as bank transfer, can only be performed for a fee.
Another way is to request a migration to a simpler account, even if you have been using the normal one for a long time. It is up to you to analyze what your real needs are!
In summary, banks usually charge an annual fee, the monthly maintenance fee, transfers and when you exceed the limit of services or bank withdrawals.
Stay tuned: if you practically do not operate your account (use only essential services) or just the savings account, The bank cannot charge a monthly fee from you.
If you do a lot of transactions throughout the month and still seek to reduce fees, there are 2 ways: the first is by talking to the bank. If that doesn't work, maybe it's time to opt for the digital account!
So, if you want take the fees out of the current account, review all of these and follow the tips above. Don't be paying for rates that you don't even use!
Time to migrate to a digital account?
Digital banks are attractive because they dispense interest or abusive fees. Even so, there is always some service that is paid. Therefore, to escape the charges, it is necessary to respect the usage limits.
But what fees are charged by digital banks? Check out the main pros and cons of some of the most popular:
Pros: opening a free account, zero fee for transfers and essential services, credit card, international card, deposit, investment, Pix, cell phone recharge, free withdrawals and services such as financing, there is no monthly fee.
Cons: does not offer a virtual card, does not have a 24-hour service, does not allow opening a joint account.
Pros: free opening, no fees for transfers and deposits, international credit card, PJ account, deposit, investments (only CDI and savings), Pix, cell phone recharge, and zero maintenance fee.
Cons: withdrawals cost 6.50, charge a fee and use abroad, do not accumulate miles, difficulty in getting approved (opening an account requires a queue, except in the case of a debit card) and difficulty in increasing the card limit.
Pros: free opening, free basic services, international and debit card with no annual fee, credit card with manageable limit, investments (CDI and CDB only), Pix, mobile top-up and loans.
Cons: charges 5.90 per withdrawal, does not offer unlimited transfers, charges 2.50 for issuing a ticket, does not have an overdraft, an account can only be opened by cell phone.
The bank may charge a current account maintenance fee, but it depends on what mode and what services you use regularly.
If you want to reduce or even eliminate fees from your account altogether, consider which services you actually use and which are expendable. Is it worth paying for those services that you “maybe use one day”?
Digital accounts are practical and good alternatives for those looking for spend less. On the other hand, they work 100% digitally. If you need to go to the bank to talk or negotiate with a manager, you won't be able to.
Check out what options your own bank has to offer before migrating. Whatever the choice, be aware that you are not obliged to pay abusive fees and useless fees forever.
It is possible to have a free checking account or ask for a tariff reduction! Get informed and also follow our tips above!
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