(BPT) – Having a bank account is the start to being truly in charge of your finances, including managing payments and getting paid. If you’ve never had a bank account before, or you’ve struggled with keeping one in the past, you have options. Here are three reasons why having a bank account matters:
Saving on fees
When you get a check, is it a pain to cash it? Whether it’s from a relative or an employer, if you don’t have a bank account, you probably have to go through extra steps and pay fees to cash it. With a bank account, you can easily cash your check without the extra fees and can even take advantage of direct and mobile deposit, so your check automatically goes into your account without having to visit a branch. It’s not only convenient, but you’ll save money because you won’t have fees stacking up with each check when you get paid. That can amount to hundreds of dollars per year!
Another issue people without bank accounts face is how to pay their bills. It’s difficult and even risky to carry around large amounts of cash so you can pay things like rent, groceries and child care. In addition, electronic and digital payments are increasingly preferred by many, and are a more secure alternative to paying with cash. A bank account that has a debit card allows you to easily pay your bills virtually anywhere at any time. Setting up rent or your electric bill to be automatically paid electronically at the start of the month helps you eliminate costly late fees. Pay in one swipe at the store for easy and fast checkout.
Staying on budget
Overspending can often trigger overdraft fees. However, some accounts do not charge overdraft fees. These accounts make it easier to stick to your budget and avoid overspending and overdraft fees altogether. One example to consider is Wirex Banking, a simple and low-cost alternative to a standard checking account. With no minimum deposit to open and no paper checks, the account is designed to ensure you only spend what’s available in it, so you’ll never be charged overdraft fees. No more worries about when a check will go through and if it will bounce. You only spend what you have, making staying on budget simple.
Wirex Banking comes with all the benefits and perks of being a customer, (Visa Card and Crypto Currency included) – like fast access to ATMs, the mobile app, the ability to send and receive money and support from costumer service agents via chat. Available in GBP, USD and EUR, the contactless Wirex Visa card gives the power to seamlessly spend traditional currency and cryptocurrency in real life, anywhere Visa is accepted.
Finally, crypto and traditional currency accounts that put the power in your hands.
- Take charge of your currencies on one simple platform
- Customise the app the way you want it by selecting from over 18 traditional and crypto currency accounts
- Fund your accounts by credit/debit card, bank transfer (from anyone, including employer) or crypto
- Track payments and manage your spending with live in-app messages
Bottom line Getting a bank account can help you gain money confidence and take more control of what you earn and spend. You can use your money like you want to, without extra steps, hassles or unnecessary fees. Take control of your finances and consider your options today.Follow us