Co-founder of Affari Miei Independent Financial Advisory Company
July 24, 2023
Almost all Italian families, especially in the past, have entrusted their savings to one or more of the products offered by Italian post, a trend that continues strongly even today, despite the arrival on the market of a myriad of banks focused precisely on this type of service. But what about the Poste Italiane deposit account?
What are the services of this type offered by the group? Can we satisfy our needs of this type even at the Post Office or do we necessarily have to move towards a bank?
Poste Italiane is a group that has always been active in the logistics sector as well as in the logistics sector savingswith products tailored mainly around the needs of small savers and families.
Let’s try to answer the above questions together, talking about both the Poste Italiane deposit accountboth analyzing by the way even products that are not strictly deposit accounts, but which could offer savers a similar service.
This article talks about:
There are no Poste Italiane deposit accounts
Unfortunately at the time of writing to you there are no Poste Italiane deposit accounts. Although the group is one of the most attentive to the savings needs of families and small savers in general, deposit accounts have never been included in the variety of services offered by Poste Italiane.
If you need to invest your savings without risk and the deposit account is the possibility that you think might be most suitable for you, read on, because I will help you identify alternatives both within Poste Italiane and instead by choosing what is offered by other institutions.
To get a complete overview you can use the free TOP Deposit Account service or you can read the list with the best offers of the month.
TOP Deposit Account it is the only one in Italy that allows you to compare all (but really all) the offers available at the moment to bind the money.
For further information on Poste Italiane, however, continue reading.
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The closest postal product: the latest generation booklet
Italian post owes the bulk of its success among small and medium savers to one instrument in particular, that postal book which was the main savings tool for adults and children, a tool that helps (goes) families to put something aside and, in many cases, also served to go and create a small capital for the smallest of the family.
Il postal bookavailable today in many versions, is a tool that I have repeatedly advised against on the pages of this masthead.
Not that it’s no longer safe, but returns, a bit like what happened to the whole sector of very low-risk savings instruments, are dropped considerablymaking the investment in postal passbook savings accounts a bad opportunity, even for those who simply want to protect themselves from theinflation.
The postal savings book (in any of the forms offered by Poste Italiane) is today distinguished by the following characteristics:
possibility of managing the passbook interactively and above all electronically, which makes the passbook very similar to non-binding deposit accounts; the yields are very low: we are talking about variable sums between 0.001% and 0.01% on an annual basis. Net of expenses, however present, we are talking about ten euros for every 10,000 euros invested. An absolutely unattractive sum, even for those who prefer to proceed, perhaps just like you, with lead feet; there is no possibility of obtaining more attractive returns for the future on the horizon; the interest that is offered on postal passbook savings accounts is in fact directly linked to the yields on Italian government bonds, which are also at an all-time low.
Those who want a deposit account must necessarily go elsewhere
If what interests you is a deposit accountand it would be an interest justified by the higher yields compared to the postal book, you will necessarily have to go elsewhere.
There are now many banks that offer this type of service, and in this magazine you will be able to find detailed guides on practically every deposit account that is offered in Italy.
Make your choice taking into account:
presence of any constraints: if you cannot afford to block sums, always choose a deposit account version without constraints, even if the return should be lower; interest rate offered: given that these are completely safe forms of investment up to 100,000 euros, it is always better to choose products that can offer you higher interest rates; ancillary expenses: they are often hidden and must necessarily be considered before entrusting our capital to this or that other account.
Although Italian post does not offer any type of deposit account, you will still be able to find what you need by looking around, even if you have little faith in the banking system and have some qualms about entrusting your savings to the banks themselves.
To find the savings account that’s right for you, I advise you to compare the best solutions with Conto Deposito TOP.
To discover other postal savings tools, however, I recommend these guides:
Focus on yourself and invest alone
If you don’t like pre-packaged solutions and want to learn more about the world of investments, you should focus on yourself and your knowledge.
No one knows better than you what to do with your money.
Everyone competes to offer you the solution of solutions but, in the end, the only one who can best govern your choices is you. Obviously you can’t do it right away, especially if you’ve never been interested in investments before and in order to make well-considered decisions you must, inevitably, acquire the right knowledge.
I have been dealing with financial disclosure on this blog since 2014 and, after studying and writing for years, I thought of creating the free video course “Invest with Common Sense” in which I explain how to start taking care of your money by protecting it from market risks.
Conclusions
I will continue to monitor the market to find the best solutions for your needs: this article will be periodically updated with the news of Italian post and with the alternatives most in target with your investment objectives.
If you’re at the beginning of your investment information journey, I suggest you start reading from one of the thematic paths I’ve created; find the one that suits you best:
Good continuation on My business!
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