With the proliferation of brands in the sector, choosing the right online bank has become a real challenge. Between the different products and the ever more advantageous prices touted by each other, it is indeed often difficult to find one another. To make the right choice and take advantage of the advantages offered by these banks of the future, here is a 5 step guide.
Summary
Clearly define your needs to choose the right online bank
Before opening an online bank account, it is important to clearly define your needs. In particular, this will allow you to identify the priority services that should be included in the offer to be retained. To do this, take a quick look at your habits and your current situation, taking into account the following elements:
- Your income level.
- Your professional situation: student, employee, job seeker, entrepreneur, etc.
- Frequency of stays outside the EU
- Your savings: do you have one or do you plan to build one?
- Bank overdraft: do you often use this solution?
These various elements make it possible to establish, in summary form, your user profile and thus, to make a first sorting. Some brands offer, for example, tailor-made offers for certain socio-professional categories.
Analyze opening conditions
While taking into account the previous elements, consult the opening conditions imposed by the different brands that interest you.
Some online banks, for example, have minimum income requirementswhile others are accessible to everyone, regardless of income.
For the practical side, you can also look into the opening procedure and the administrative documents required. In addition to proof of identity and common personal information (surname, first name, email), proof of address is sometimes necessary in online banks 1time generation.
which is not the case in most 100% digital neobanks.
Compare the services and prices offered
Now let’s come to the step that many consider to be the most important: comparing services and prices. In this regard, the list of services offered by online banks may vary from one brand to another. Here again, it is therefore a question of basing your analysis on your consumption habits and your specific profile.
Bank cards
What type of bank card does the digital bank offer when opening an account (Visa or Mastercard)? Is it offered for free? Are there any associated annual fees? What are the fees on ATM withdrawals? These are all questions to ask yourself for an adequate choice.
savings products
For individuals, online banks often offer savings products with more attractive rates than those of traditional banks. Do not hesitate to look into the question to make the most advantageous choice.
The use of services outside the European Union
If you travel frequently outside the EU zone, the ideal is to direct you to a bank that allows you to use its services abroad without large additional costs. Consult the rates applied for withdrawals by bank card outside the EU, as well as the fees imposed on international transfers.
And these are just some of the services you can consider. To make quick comparisons on the basis of several criteria, do not hesitate to use a online bank comparator.
Test the ergonomics of the platform
The use of an online bank necessarily involves the use of a digital interface. For the best experience, it is important to feel comfortable on the institution’s platform.
The latter must be ergonomic, fluid and intuitive. You must be able to find your way around easily to carry out all your transactions without difficulty.
Evaluate customer service to choose the right online bank
In case of difficulty or complaint, you should be able to easily contact the customer support of your online bank. Check the opening hours of this service to avoid any unpleasant surprises.
Similarly, to choose your bank, online, view user reviews on online forums to get an idea of the quality of support offered.
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