Best checking account for young people 2018: zero-fee solutions. How to choose the best one?

The options for opening a bank account for young people have never been as diverse as they are today, but how do you choose the ideal one? Zero-fee solutions abound, and they can often be particularly attractive for those who prefer home and mobile banking. Therefore, they're not necessarily aimed only at the young, but also at those who prefer to operate online. In this article, we'll try to explain, with a few simple tips, how to find the best bank account for young people in 2018.

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First, it's important to discuss the basic features and distinguish between solutions that offer the option of a card account and those that offer a true current account . If your basic need is to have a means of receiving your salary and the ability to make or receive online payments or purchases, a card account may be the ideal solution. Opening a current account can be useful if you're looking for additional features such as direct debit for utilities. It's important to remember that some prepaid cards also allow this option, so the main difference lies in the fact that a current account offers protection from the Interbank Deposit Protection Fund for deposits up to €100,000. Furthermore, a current account You can have a checkbook and send payments to public administrations via F24 forms. Both solutions have features that are ideal for young people's needs:

• Quick and easy openings, even conveniently online
• they are free or very low cost
• telematic management tools such as home banking and mobile banking
• Manage your business completely independently from home or on the move, 24/7

The Costs?

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As far as costs are concerned, the zero-cost current account for young people really exists and it is The industry standard. However, when analyzing zero-fee account offers, it's always a good idea to check whether both fixed fees (independent of the client's trading activity) and variable fees (calculated based on the quantity and type of transactions) are eliminated, or just one of them.

Account selection

To find the best account, it's essential to compare offers. The first step is to establish a minimum set of services you're looking for. Once this is done, you'll need to find the account that , by combining these services, minimizes costs . Once you've found the offer that best suits your needs, to open a current account for young people , simply send the required documents to the bank. You'll then need to sign the service acceptance contract and the forms relating to the Summary Cost Information and Privacy Policy. The bank will then begin the actual account opening process, which typically takes a few business days. Continue to discover the best offers available…

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N26: The Current Account on Your Smartphone . You can open a free account in just 8 minutes . All you need is a selfie and a convenient online form. Considered the best European bank for smartphones, it offers the ability to carry out free transactions directly from your smartphone, such as sending bank transfers and making instant payments using your phone's contacts. N26 customers also have access to offers such as cashback and exclusive discounts. Furthermore, within 4 working days of opening, you will receive a Mastercard for making withdrawals, while the IBAN code is assigned within a few hours of recognition. N26 offers 4 different types of accounts : from the completely free 0-fee one (valid for both the classic and Business versions) to more advanced account types with additional guarantees on purchases. Widiba: Rich welcome bonus. An online bank that has been active for several years, it is designed especially for young people because it has no opening and management fees and is easy to use from both PC and mobile devices. The current offer offers a 1.6% interest rate for six months, making Widiba one of the most attractive solutions for those looking to tie up liquidity. Additional benefits include no opening fees, no management fees for two years (or forever if the average balance is over €5,000), personalized cards and debit cards in 34 different styles, and a free prepaid card. Hype: deposit card . This card with IBAN allows you to perform all the standard current account transactions (bank transfers, payments, etc.) and can also be conveniently managed from your smartphone. The benefits in brief are: it can be opened online in just 5 minutes and is free of charge, there are no management fees, no documents to send (the identification procedure is done via video call), and it includes all the typical current account features, so you can receive your salary and make payments.

Conclusions: What is the best current account for young people?

There's actually no exact answer, although the information provided should help you define one based on your needs. If you're a college student or a worker who needs support for receiving bank transfers or other payments, a credit card or online checking account with extremely low fees that allows you to easily withdraw funds is also fine.