Choosing the right account – 5 steps

There are five steps to choosing the right bank account that will suit your needs and not cost too much in fees and charges.

Step 1 – Assess your needs,
Step 2 – Weigh up fees,
Step 3 – Ask about waivers,
Step 4 – Does it meet your needs?
Step 5 – Look into add-ons.

Some banks waive monthly fees if you deposit your salary, package your home loan or do a lot of business with the bank. Add-ons such as an online saving account may help you save for that big purchase.

Source: The Daily Telegraph