Having an account with an online bank is no longer an option but a real asset. When deciding to have one, the first step to take is to choose a bank. However, this is not so simple given the number of banks and therefore offers that exist on the market. Fortunately, a practical tool makes it easier for everyone by allowing them to choose the bank that corresponds to each one according to their profile: this is the bank comparator.
How is online banking so different?
Online banking is a banking institution that differs significantly from traditional banks, working primarily through websites and apps. In other words, it is not necessary to go to a physical agency to benefit from its services. In fact, most of these banks don’t even have physical branches. So even to open the account, the procedure is done online.
Among the main advantages of online banking are:
- Convenience: the first advantage enjoyed by customers of an online bank is the greater convenience in everyday life;
- Little Paperwork: If you are one of those people who lose their spirits in the face of classic bank bureaucracy, you will certainly appreciate the benefits of an online bank account.
- Reduced costs: Consumers save big with online banking services, as they are usually not charged for online transactions and other services.
Many banks do not charge a fee for withdrawals and paying bills, the same as for transfers to any other account and deposits which are also free. In addition, you have the option to check the balance or view the bank statement anytime, anywhere. The other services offered by the bank (credit card, loan, investment, etc.) are also quickly requested and analyzed online.
What is an online banking comparator?
You are certainly not taught anything by informing you that there is no absolute best bank, but rather a better bank suited to a given profile. An online bank that fully and effectively covers the needs of one person may therefore prove to be inopportune for another. Tracking is not then what is needed to make a decision, but rather an objective study of the market.
In other words, it is necessary to take a certain number of criteria into consideration to study the offers of several banks in order to choose the most adequate. To do this, there are two possibilities: go door-to-door by contacting each bank to find out about its conditions or use an online comparator.
Today, the second option is certainly the most practical. The bank comparator is indeed a tool generally put online by a brokerage company and intended to facilitate the choice for consumers. The tool compares the offers of several establishments in order to list the options that best match the customer’s profile.
How does it work ?
An online bank comparator has a database, rich in information relating to several partner banks. The database is regularly updated in order to integrate new offers in the smallest details and can thus, depending on the information that the visitor enters in a form, propose to the latter, the offer (s) that benefit him. the best.
Concretely, depending on the location and the needs of each client, the tool makes the most relevant proposals. It is then up to the customer to make his choice. It is important to point out that all this is done for free and allows the consumer to save time and money.
What criteria are taken into account?
The most advantageous proposals are found by considering a certain number of criteria that you must fill in on the comparator form. First of all, it is about the geographical location. But this criterion matters only if you want a physical bank. This detail is not really important when it comes to online banking. Then, your age, profession and income will be taken into account.