Everything you need to know about digital savings products

savings booklet

Online banks and their advantages

An online bank is a financial organization operating entirely remotely. Access to its services is via interactive interfaces such as web browsers, telephone and ATMs. Compared to a traditional agency, it offers significant advantages such as lower costs or greater availability.

A clear reduction in bank charges

Thanks to the absence of physical branches, online banks have the opportunity to offer ultra-competitive, or even non-existent, banking fees. This reduction is also explained by the absence of expenditure on the majority of current operations and the reduction in administrative constraints.

More attractive savings solution offers

The absence of fixed expenses such as rent, premises maintenance costs, transport-related expenses, etc. allows online banks to offer more expensive offers for customers. This can result in a reduction in fees on current transactions, as mentioned previously, or in an increase in interest rates for the benefit of the saver.

Real-time monitoring of your account at any time

Unlike traditional banks, online banks give you the ability to manage your account from anywhere, at any time and with complete autonomy. To do this, they provide you with various platforms and mobile applications accessible from a computer or smartphone provided you have an internet connection.

The essential things to remember about digital savings solutions

To grow your money securely and without having to travel, you generally have the choice between two types of savings solutions.

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The savings account

The savings account is a way to invest your savings safely without having to immobilize them completely. Open to capable individuals resident for tax purposes in France, it allows you to save various amounts ranging from 10 to 10,000,000 euros. Regarding interest, it is calculated fortnightly and is collected at the end of each year.

The Term Account

The Term Account or CAT is an investment consisting of blocking the sums deposited for a predetermined period in return for a higher interest rate. In addition to restrictions on duration, certain conditions such as the minimum value and the ceiling of the sum to be invested must also be respected by the saver. Each of these details must be agreed upon by the financial institution and the client and a contract must be signed by both parties before opening the account.