What are the benefits of having a bank account?

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Today, millions of people keep their money in a bank. You may have considered requesting a bank account, but it has been rejected. Or maybe you do not know if it’s worth going out and getting an account.  If you are asking, what are the benefits of having a bank account? Here are some benefits to consider: A place to keep your money safe Having an account is a way to keep your money safe from loss or theft, a way that is much safer than keeping your money under your mattress or in your freezer. The possibility of earning interest on your money With a savings account, you can earn interest on your money. The longer you keep the money in your account, the higher your balance will be. It’s like getting free money! The possibility of making purchases with a debit card Debit cards work just like credit cards. Except that, with a debit card, when you make a purchase, the amount charged to the card is deducted instantly from your account. Most debit cards have a c symbol, such as Visa which means they can be used in almost any business that accepts credit cards. The opportunity to receive cheques via direct deposit If your employer pays you through a cheque, then having a bank account means that you can deposit those cheques directly into your account. That facilitates immediate access to your money as soon as your cheque is issued. Also, there are no fees for changing cheques! If you have been thinking of having a bank account at Capital Sacco, this may be the time to reconsider. There are too many good reasons to have a bank account these days never let the opportunity pass.

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