Saving money under the mattress or having it in cash is a fairly common practice for people who, although they want to save, seek to have their money always at hand. But, the truth is that maintaining its capital in the bank in a savings account not only serves to maintain your money in a safe place, but also provides you with excellent additional benefits, which we will explain in detail below:
Make money on savings
One of the main benefits that this type of account offers are their interests, which increase the initial income that the person deposits depending on the time that leaves him stored, which allows him to earn more money without practically doing anything. Although, it is true that many banks ask for a minimum amount in the account so that these savings can be generated.
Low risks
Savings accounts are the safest way to keep your money intact, being almost impossible for you to steal it directly or lose it, as it can happen if you keep it stored in a physical place or if you decide to invest it in some way. Likewise, the structure of the banks also allows the money deposited to be safe from the volatility of the economy.
Speed in procedures
Although, the conditions and time necessary to make a deposit in an account vary depending on the financial institution of the country, the truth is that, normally, the requested requirements are quite easy to meet, so that anyone with a bank account is able to make this type of storage. In the same way, it is common that these deposits can be made the same day such procedure is done. Even so, it is advisable to see the minimum amounts and charges requested by banks for security.
Easy access
Whenever the bank is open, you can go to him to get your money without any inconvenience. In addition, these entities usually have an online bench from which you can make monetary transfers 24/7, which is much more secure to buy certain goods and products, since you will not have to walk with large cash amounts on the street.
Program payments
Although the main function of savings accounts is, precisely, keeping the money without spending, this account can be scheduled so that part of the money you have saved to pay, automatically, certain important invoices. Thus, you will save a lot of time by not having to do this process manually.
Does not include additional expenses
Some banking entities may charge a percentage of your credit every time you make a savings account movement, or take money through their ATMs. But, this does not apply to the maintenance of this credit, so you can have your money saved in savings accounts for months and not lose a single penny, moreover, you would get more than you had initially for your benefit program.