»»Daily deposit account: Why it makes sense in addition to the checking account
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In advance in the video: Return: What is it?
Is a call money account worthwhile? Yes! Here you can find out why it is the perfect addition to your checking account - and how you benefit from it.
So far you only have a checking account or maybe also a savings book on which your savings are located? Then it is high time to think about a call money account! How come? Because your money not only lies around in the call money account, but can work for you.
You can find out here when a call money account can be useful for you.
What is a call money account?
A call money account is an account where you get interest for your credit. You can pay and pay money every day- hence the name call money account. The interest rate for a call money account is specified in percent and applies for one year.
You can use a reference account to deposit money to the call money account or transfer money from the overnight account to the reference account. The money in the overnight account is certain if your account is at a bank that is subject to statutory deposit insurance. Because this will secure your money up to 100,000 euros.
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Where is the difference between overnight money and checking account?
Very important in advance: checking account and call money account are not in competition with each other. Because you always need a checking account (reference account) to open a call money account.
You won't get any interest for the money in the checking account, but you can handle your payment transactions. So you can send money to other people with a checking account, pay your rent or have your salary transfer to your checking account. This is not possible with a call money account.
The overnight account is very suitable for saving your emergency sample here. So you quickly come to your money in an emergency and can transfer it to your checking account. Since you also get interest for your overnight money, you benefit in the long term from the compound interest effect.
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The advantages of a call money account just summarized
- You get interest on your overnight money.
- You can use the overnight account to save money regularly.
- If you need more money at short notice than you have on your checking account, you can quickly and easily transfer money from your call money account.
- The overnight account is suitable for your emergency egg.
- Your money is certain if your bank is subject to statutory deposit insurance.
- You are not affected by price fluctuations as with stocks.
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