It is important to understand what is the appropriate amount to keep in a bank or postal checking account to avoid risks and increase costs. Banks impose very low deposit limits on checking accounts on account holders. This is because a checking account with too many zeros represents capital to be traded and invested in other, more profitable forms. But you need to pay attention to the appropriate amount to keep in a bank or postal checking account to avoid risks and save costs and commissions. Let’s find out what it is.
How much money should you keep in your checking account?
Among the most frequently asked questions asked by readers, the most common ones are the following: How much money should you keep in your checking account without risk? No There are restrictions On the amount to be held in the bank or postal checking account. Therefore, every account holder has the right to deposit any amount of money. In addition, he can decide to keep them in the checking account or allocate them to higher interest investment forms.
How to save expenses and commissions
You should pay attention to the appropriate amount to keep in your bank account or mailing checking account to avoid risks and save costs and commissions. Indeed, if the average balance in the current account exceeds 5,000 euros, the taxpayer will have to pay stamp duty.
This is a tax of 34.2 euros per year, and the amount is usually withdrawn on a quarterly basis by direct debit from the checking account. To avoid exacerbating these costs, the average stock should be kept below the € 5,000 threshold.
Another aspect to be taken into consideration is the negative impact of inflation. Indeed, it is not recommended to deposit large amounts into the checking account.
Why, the increase inEconomic inflation It involves the erosion of purchasing power.
Another concern for account holders has to do with banking failure and what happens to savings in the checking account. Thanks to the Interbank Deposit Protection Fund, checking accounts are guaranteed with deposits of up to € 100,000.
The risk is in the current account balance in excess of € 100,000, in which case the excess portion can be forcibly withdrawn and will be permanently lost.