Free current account – our tip
Are you looking for a free current account for your emergency fund? – We’ll show you what to watch out for!
Free current account for your emergency fund
Before you start investing, we recommend that you first create an emergency fund, following the plan of US financial coach Dave Ramsey. Use a free current account for this. Ideally, you save capital in this account with which you can cover your living expenses for about 6-12 months. In this way, you ensure that you do not have to liquidate or reduce your long-term investments in emergencies.
Free current account – hidden fees and deposit insurance
In the world today, you will receive little or no interest on your money. It is therefore all the more important that you don’t incur fees on the capital you save. Unfortunately, many banks now charge account fees. But, there are still free offers. However, you should make sure that the account is also subject to deposit insurance up to a sufficient amount (this is usually the case everywhere within the EU). The statutory deposit guarantee of 100,000 euros per customer should be sufficient for your emergency fund.
Our current account recommendation
Revolut, with a great smartphone app, is free and represents a good option for your emergency account.
