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4 key Features of a Zero Balance Account

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Aman Nigam
4 key Features of a Zero Balance Account

There are various types of bank accounts provided by the bank to its users. The users should choose the account type based on their needs. These different types of accounts have different features and benefits that a user could avail of while opening their bank account. The different types of bank accounts are savings account, current account, salary account, zero balance account, etc.

Banks allow you to open your bank accounts online through the website of the bank or via their app. You could easily find a list of websites to open your zero balance account by searching ‘zero account opening online’ on Google and selecting the bank’s website that is suitable for you. Here are some of the key features of a zero balance account.

 

  • No minimum balance

Most bank accounts have a minimum balance limit that you need to maintain in your account. If you fail to maintain this you will be charged a fine by the bank. While opening zero balance account online, you do not need to maintain this minimum balance and would not be charged a fine for it. You can use the entire amount available in the account for your use.

 

  • Free ATM/debit card

You would receive a free ATM/debit card from the bank within 7-10 working days of opening zero balance account online. You could use this card to withdraw the money from your account whenever required. While choosing your bank, you should make sure that the bank has numerous ATMs spread across the country so that you could find an ATM easily when you would want to withdraw your money. You could even withdraw money from an ATM of other bank’s as well in case of an emergency.

 

  • Free cheque books and passbooks

The bank provides you with free cheque books and passbooks within a few days of opening zero balance account online. Cheque books help you ease your transaction process and reduces the risk of theft as you do not need to carry cash with you at all times. If you have a huge amount to transact you could easily carry your cheque book along with you and write a cheque at your destination. A passbook helps you keep track of all your transactions. It provides you with clarity on your spending and allows you to plan your spending.

 

  • Access to internet banking

You could carry out all your transactions or avail of the services of the bank online through internet banking after opening zero balance account online. This is done through the website of the bank or the bank’s mobile app. The user ID and password would be provided to you by the bank in the welcome kit that the bank sends after opening your account. You should change the password of this account as soon as you receive the welcome kit.

 

You should keep these features in mind while planning to open an account and choose to open a zero balance account if your requirements meet with the features of the account type.

We hope that this article proved to be helpful and that you open a zero balance account online. Thank you!

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