Basic payment accounts:search and compare

If you wish to open a basic payment account and you don’t know which to choose, you should first be aware of what they are and who they are intended for, and then request information from the banks you consider suitable. Before you sign a contract the bank should offer you a document informing you of the services included and the fees they may charge you for them. You can therefore consider the information on the basic payment accounts of different banks at home and take your time to decide which is best for you.

This information, known as a fee information document, is provided free of charge and, most importantly, all banks use the same terms to refer to the same services, so that you can easily compare them.

If you already have a basic payment account but you think that it might be worth switching to a different account, you can compare the services provided to you and the fees you were charged during the previous year with the services and fees offered by another bank. To do so, compare your fee statement with the information (fee information document) received from another bank.

The fee statement is a document that banks send to their customers free of charge in January each year. It summarises the fees charged during the previous year for services associated with the payment account and the interest rates applied and interest charged.

From the second half of 2019, comparison websites will inform you of the conditions offered by banks, based on the information they receive from them, starting with information for the second quarter of 2019.

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