News receipt plan Saving at an online bank is possible and can even make money
At a time when inflation is becoming increasingly difficult to control and the smallest savings are being sought, switching banks is an easy solution that can pay dividends. Bank fees are part of those small daily expenses that add up can be significant, but also easily adjustable. Online banks, as is the case with Fortuneo Banque, have the advantage of offering reduced or even no banking fees.
Save on Fortuneo and get $60 for opening a Stock Savings Plan (PEA)
Have you decided to take a new step and use your money to build interesting savings? Investing in the stock market is not a bad idea, as investing in the stock market often has a much higher return than traditional savings.
However, it is important to remember that investing in the stock market involves the risk of losing all or part of the capital invested and we strongly recommend that an inexperienced investor seek professional advice before deciding to invest.
Fortuneo is a French online bank belonging to Crédit Mutuelle, founded in 1882. Suffice it to say that the experience that Fortuneo already establishes is solid and that your money stays on French territory, saving you some formalities completed.
Fortuneo Banque is the first online bank to allow contactless payments on French territory with connected objects such as watches.
From now until June 30, 2022, Fortuneo Bank is offering you $60 for an initial opening or initial transfer of a PEA (stock savings plan).
PEA is a term that means absolutely nothing to you? Don’t panic: we will explain the conditions of the offer to you in more detail.
What are the workings of the PEA offered by Fortuneo Bank?
Therefore, in order to take advantage of the $60 offered at Fortuneo Banque, you must either open a PEA with them and either:
- Make an initial deposit of at least $100 (if opening a new account);
- Have an outstanding balance of at least $100, including securities and cash, in the event you transfer a PEA account to Fortuneo Banque.
Now you’re probably wondering what the PEA’s interest is in building savings, and it’s perfectly legitimate.
The PEA (Equity Savings Plan) is a regulated savings product that allows you to acquire and manage a portfolio of European equities while benefiting from a tax exemption on the gains derived from them. .
Also note that you can deposit a maximum of $150,000 into a PEA and that you are strictly limited to European equities.
Summary of the pros and cons of a PEA account:
- security_level, your money stays on French soil and also benefits from French regulations. However, since the money is placed on the exchange, you cannot eliminate the inherent market risk;
- As for taxation, opening a PEA is very interesting. You are not allowed to make any withdrawals from your account for at least 5 years in order to be exempt from social security contributions (the famous flat tax) which make up 30% of total profits;
- flexibility sideWith a PEA, you must wait at least 5 years before making a withdrawal or you will lose the tax exemption on the winnings earned.
And unlike traditional banks, whose fees can sometimes be relatively high, Fortuneo offers extremely competitive rates, whether for brokerage transactions or for maintaining your account:
- 0$ account management
- $1.95 brokerage fees for an order less than or equal to $500
- $3.90 commission for an order between $500 and $2,000, plus 0.20%
Again, when it comes to stock market investing, really remember that while investing can give you great returns, it also comes with a risk commensurate with the profit you can make.
In general, the riskier an investment, the more it is likely to earn you, and the less it earns you, the lower the risk.
In any case, do not hesitate to seek advice from a specialist in the sector if you are not yet familiar with the exchange system.
You have until June 30, 2022 to take advantage of Fortuneo Banque’s offer and receive $60 directly into your account.
As a reminder, to qualify for the offer, you must either make an initial deposit of $100 or have an outstanding balance of $100 in the account you wish to transfer to Fortuneo.
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