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Is there enough money in the wallet? Cost-conscious electronic money

Is there enough money in the wallet?

Cost-conscious electronic money

Measures to Encourage Use of ATMs and Cards A drain can be taken when you travel abroad

Credit cards with iban, in installments, in balance or rechargeable. The success of the "cashless" plan stems from the increased use of electronic money, the set of measures contained in the government's maneuver aimed at discouraging consumers from using money. Regular ATM and credit card customers will also be able to participate in the receipt lottery from January 2020 onwards and win other prizes drawn. SosTariffe.it's latest survey looked at the top four types of electronic cards in the market, comparing monthly fees and commissions for each of the top four paper types. The contractual conditions analysis of the major credit cards available in the Italian market at the end of October 2019 was carried out with the help of SosTariffe.it credit card comparison tool.

An account card is a type of card that does not bind the cardholder to activate a current account. The benefit is not having to activate a deposit at a credit institution, but still having an Iban code attached to the card to make transfers or receive credits. According to the study, these types of cards are activated free of charge, but to keep them you need to pay a small monthly fee of 5.18 euros. The owners have the possibility to make about 60 free withdrawals per month at the bank ATMs. Subsequent withdrawals from its branches or other Italian or European banks cost on average € 0.20. A minimal and very convenient commission. The situation regarding ATM withdrawals abroad in countries outside the EU is different. In this case, the commission will be equal to 5.20% of the sum requested. This type of card allows you to withdraw about 457 euros per day.

Revolving card: deferred expenses and commission for installments Installment cards, also called revolving cards, allow you to pay in installments the balance accumulated during the month. It's a bit like the bank, through the card, lends the customer a sum. The latter, after spending the amount obtained, will have to repay it in installments with interest.

Unfortunately, this type of electronic card has a high commission on withdrawal. In an EU country the percentage is 3.61% of the amount withdrawn, in an extra EU country the average commission is 5.15%. With rotary cards, an average of 456 euros can be withdrawn on a total ceiling of 10,156 per day. Free commissions for POS purchases in Italy and the rest of Europe. However, in non-EU countries, the interest rate on payments is around 1.35%.

The outstanding credit card is usually combined with a bank or postal checking account of which the holder is the owner. We have a monthly amount to be used, minus the combined deposit without additional interest in the first half of the following month. For those who use the bank counter, the commission averages about 3.31% of the amount drawn. This percentage reaches 3.54% if the ATM is from another credit institution. Reaches 3.65% when taken abroad in the countries of the European Union. While those who try to withdraw in a non-EU state will have to pay the beauty of 5.10% commission for each cash withdrawal.

Prepaid cards are agile payment instruments. They are usually indicated for a young target. One of its main advantages is that they do not necessarily have to be combined with a checking account. You can increase the amount you want each time, depending on your spending needs. Its activation cost averages 5.57 euros. On the other hand, the monthly fee is almost free: 0.61 euros. 75 free withdrawals are included each month. Once this limit is exceeded, very high commissions will have to be assumed, but overall it is convenient. For example, he will pay € 0.43 for those who attend at your institution's counter. While those withdrawing at ATMs from other banks will have to pay a commission of 1.88 euros. One penny less, equal to 1.87 euros, for those who wish to withdraw abroad in a European Union country. If you are traveling outside the EU, on the other hand, commissions average 1.62% of the amount drawn or 4.18 euros per withdrawal.

For refills, the daily withdrawal limit is 567 euros, compared to the ceiling of 11,316. Commissions on POS purchases are free in Italy and the rest of Europe. Only if you are shopping in non-EU countries will you pay a commission of 1.04% of the cost.


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