No deposit offers can be attractive, allowing you to get started with a new account or service without having to part with any of your well-deserved money. However, these types of offers often come with conditions that bite and can prove costly in the long run if not approached with caution.
One of the most significant pitfalls associated with no deposit offers is the high interest rates that often accompany them. The promise of "no strings attached" tends to be accompanied by interest rates that are substantially higher, than those offered by mainstream banking. This can result in you ending up paying more in the long run, mega888 as the high cost eats into your equity.
Another pitfall to watch out for is the onerous clauses that are often included in no-deposit offers.
