One of the most important things to keep in mind when moving to a new city is finding a bank where you can complete all the important administrative procedures that are required for living there. When you find a bank, make sure meets all your needs before you decide to deposit your money there. In this article from ShBarcelona, we tell you the important things to keep in mind to help you make an informed decision on a bank.
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How to choose a bank in Barcelona
There are currently a wide range of banks to choose from, from traditional banks with offices and more personalized services to banks that are completely online rather than in a physical office. There are a series of things that are fundamental to making an informed decision. The first is the solvency of the bank. It’s crucial to find an experienced and solvent bank that is guaranteed to have been reliable. It is also important to be informed about the security policies of the bank in case your card is stolen, lost, used for fraudulent activity or involved in another incident that compromises your bank account and your money. You want to be assured that you will be taken care of when you have to work with the bank to fix the situation. We also suggest finding a bank that offers a simple and navigable online platform, where you can make changes and deposits within your account in a way that makes your life easier.
Another important thing to keep in mind are the types of interest used by the bank as well as the type of fees they charge – you want to make sure these are not unreasonably high. The proximity and number of cashiers available, especially in the areas we go to the most, are also important points to keep in mind when choosing a bank. It’s important to be able to acquire cash easily from your account without having to travel far or use ATM’s belonging to other banks that charge a cover fee to withdraw from your account. This will save you time and money.
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Depending on your deposits, you may want to figure out whether you want to keep your money in more than one bank. The reasons for doing this are simple. Banks only allow a guarantee fund of deposits of 100,000 euros in case the bank crashes. If you have an income higher than that, you will lose the money, therefore people in this situation sometimes opt to split up their money into different bank accounts. In this way, you can enjoy the advantages of having more than one bank (normally banks have only one special offer or product for customers), among which are rewards, lower fees and special offers that be very useful. We at ShBarcelona hope that these pieces of advice come in handy as you go through the process of choosing a bank, something that is essential if you are moving to any new city, including, of course, Barcelona.
*Main photo via Pixabay
What other advice do you have for choosing a bank in the Ciudad Condal?