Having the right current account is important, as it’s where you’ll store all of your hard-earned money, ready for you to spend. You need a functional, easily accessible spending account with a reputable business that offers excellent customer service for when you’ll inevitably have to get in touch with them.
But how do you know if they’re reputable or not? Well, you should ensure that you look at plenty of reviews before opening a new spending account – have a look at this Chime review as an example. This gives you a better idea of what is on offer. In this blog, we’re going to look at more of the different things you need to be aware of when opening a new spending account, so read on for more.
Rewards or benefits
Whether it’s retailer offers, early direct deposits ensuring you get paid early, fee-free overdrafts, or sign-up bonuses, you should find out what each prospective account offers you at the time you’re looking for a new account. If it’s something you’re going to take advantage of regularly, then it’s definitely worth it in the long term, particularly if you’re making large savings. Rewards and benefits add a little bit of excitement to your banking – small perks can equate to less stress regarding things like your income and overdrafts. See what appeals the most to you.
Savings and interest options
While interest rates are currently in a dismal state compared to what they once were. You still want to look for banks that offer the best returns, particularly if you’re planning on tucking your money away for the future. When looking for a spending account, you should see which also offers a savings account if you’re interested. Suppose you have it all consolidated with one company. In that case, it makes everything easier to manage, especially if you can view everything on the same website or app and seamlessly transfer money from one to the other.
Mobile friendly
In this day and age, most of us want our banking to fit our modern lifestyle. This includes simply accessing our funds on our phone with an easy-to-use, attractive user experience that makes a big difference. Also, having the ability to pay with our phones instantly is something many of us just expect from our banking these days, so make sure this is a feature that is available when looking for a new account.
Aspects you want to avoid
Hidden or monthly costs can be a turn-off for many customers unless the rewards are worth the cost. That’s why you should always speak to somebody or read the fine print before you start up a new spending account, as you want to know what you’re getting yourself in for without any nasty surprises cropping up when it’s too late.
When it comes to opening a new spending account, you know what you want and need. Use your common sense, make sure you check the reviews (like you can see here), weigh up all the pros and cons, and then you can know you’re making the correct choice.
Featured Photo by Austin Distel on Unsplash
