1.      Introduction

Perhaps the most important and the most popular account held by a client of a bank is the current account. This is an account you must have to manage your day-to-day banking, i.e. to deposit or withdraw money on demand, make or receive money transfers, pay bills by direct debit or standing order, pay for things with a debit or credit card, and to carry out other basic transactions.

To choose the right current account, you should compare the following features:

the monthly account fee vs. the services attached to the account

Our recommendations:

  • Use a web-based bank account comparison tool to compare the current accounts offered by different banks.

      Compare both the fees charged for a current account and the services provided.

  • The website of Národná banka Slovenska contains information for a comparison of the costs of bank accounts. Further information is available HERE.
  • Some banks offer a discount on the monthly current account fee.

You will be entitled to a discount if you meet the bank's conditions, e.g. your salary is credited to the account, you have the required monthly turnover on that account, you also use other related products, etc. Before you decide to apply for a discount, you should consider whether you will be able to meet the stipulated conditions regularly or permanently.

  • Banks normally charge separate fees for ancillary services.

The monthly account fee covers the costs of account maintenance and of the services attached (package of services). This fee varies across the banking sector. For ancillary services, you will have to pay separately. Such services are, for example, the SMS alert service, withdrawals from the ATMs of other banks, etc.