The hit to the current account: Here’s how to really avoid it

According to an analysis by Other consumption, Last year the costs of current accounts with operations Online It increased by 15% for all three categories of taxpayers considered, i.e. young people, families with medium operations and seniors with medium operations. On the other hand, current accounts used at the counter remained essentially unchanged: a slight decrease in expenditures for young people (-1%) and a slight increase for families and the elderly with average operations (respectively + 2% and + 3%) can be observed.


As mentioned, the most noticeable increase in the total cost of checking accounts with online transactions was recorded for all categories of profiles examined, albeit with some slight differences between them (ranging from +11% to +15% in 2021 compared to 2020). In fact, some accounts that were free until last year are no longer free for online operations, while in others the costs may double. The situation is different with regard to the cost of deposits with OTC transactions, which are largely unchanged but are generally higher in themselves in comparison with those with online services.

Other consumption Both fixed and variable expenses are considered. The first includes the monthly deposit fee and the annual credit/debit card fee, to which are added the costs of managing a securities account and paying interest resulting from year-end accounts made by credit institutions (inventories, interest assets and interest/expenses). The list is closed by account statement expenditures, transparent communications andHome Banking“.

Variable costs, of course, depend on the operations: there are, first of all, commissions for transfers and withdrawals made at branches or ATMs of other banking institutions. Other items are commissions, interest applicable to current account overdrafts and taxes (stamp duty 34.20€ per year on shares over €5,000 and withholding tax of 26% on interest accrued).

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To reduce costs, it is good to withdraw cash only from the ATMs of your credit institution, taking into account the fact that online operations, if possible, are always cheaper than those that take place at the counter. If you have a bad account, you better order a file videoLess expensive than overdraft costs. Even relying on different institutions depending on the offers for individual products (mortgages, credit cards, loans …) can allow saving, as well as control the annual summary of expenses sent by the bank at the end of the year and understand the number of individual operations and their costs.

Online accounts

As mentioned, this is the cheapest solution: there are still proposals Without fees Which does not include commissions for ATM withdrawals or the costs of remote operations. The fact that the statement of account is electronic, and therefore can be consulted online, means that there is no need to calculate expected expenses usually for paper delivery or email., among the most useful solutions, indicates that Orange current account with zero entry form From Ing, who proposes to cancel the fee in the event that a salary or pension is paid or there is an income of at least 1,000 euros per month. In addition to a free debit card and without commissions on withdrawals and transfers made in all banks, unlimited operations and Internet banking are included.

he follows Conto Start Widiba, which allows you to manage your account online also via the app: also in this case online banking, debit card and credit card on demand for an annual fee of €20. With Account N26Finally, no fees and a free virtual or physical debit card with a cost of €10 for shipping. In addition, there are also no costs for wire transfers and three withdrawals per month from ATMs: these become unlimited by activating Cash N26, an option where you can pay via smartphone and deposit cash in the online deposit.

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Thelma Binder

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