Internet and mobile banking have made it very easy to use the facilities of banks. Cash transactions have become very less nowadays and most of the payments are done online.
Usually this is done from the savings account itself. But, do you know that there is a lot of risk of doing all the transactions with a single savings account.
Banks have become an important part of our life today. Online and mobile banking has made it very easy to avail banking facilities. Now most of the facilities of banks are available online. This is the reason why the trend of online and mobile banking is increasing.
But, in today’s run-of-the-mill life, have you ever thought whether you are using your bank account, savings account properly or not. Because, while using their savings account, they make some mistakes, which seem small in appearance, but their financial impact is very high. Let us know about the mistakes that most of the people usually make while using their savings account.
One savings account for all needs
Most of the people use the same savings account to meet all their needs. They use only one savings account to pay EMIs, deposit insurance premiums, pay electricity bills, and do online shopping.
By doing all these things from a single account, it is difficult to monitor the expenditure of money. It is not known where how much is being spent. Therefore, instead of a single savings account, there must be at least two accounts for all your needs.
It is generally seen that many people keep a lot of their money
in one savings account. Today cybercrime has increased a lot and people are falling prey to banking fraud day by day. Therefore, it is not wise to keep all the money in one account. Therefore, if you keep two or more savings accounts instead of one savings account, then your money will be more secure.
Dependency on the same bank
If you have only one savings account, then your dependence on it will increase. In such a situation, if any facility is not being offered by that bank or if the services of that bank are not available at any time, then you will find it difficult to meet your banking needs.
Therefore, if your savings accounts are in different banks, then you will get many facilities, and secondly, if one bank is closed due to strike etc.
