Based On The Article Above, Do You Agree With The Points Listed?
I agree with the points listed in the article concerning the benefits of the bank. Having a bank account proves to be an advantage since individuals can withdraw or deposit cash at their convenience. Through technology, banks have introduced online services, which have eased the burden of people going to queue in the banks. Besides, bank accounts prove to be safe from any crimes such as theft. Bank accounts are also protected from incidents such as fires since people are offered insurance for their money. Saving money in accounts banks is also an easy way since banks offer interest rates to people. With time, the interests help people to grow their money since the bank services are cost-effective ( “ Benefits of a bank account .” (n.d. ).
How Essential Is It To Have A Checking Or Savings Account Or Both?
Savings and checking accounts are essential since they offer people the chance to save their money. When combined, savings and checking accounts can aid in people accessing their money and can allow emergency savings at the same time. The two accounts also help individuals to create effective financial independence of their savings. In other words, checking accounts are responsible for paying bills while saving accounts are considered beneficial for saving money for the future. Saving accounts offer people the ability to withdraw their money any time without restrictions. To open a saving account, it is essential to have a checking account as it offers the account holders can access to ATMs, online and mobile banking services. Checking accounts also offer people the opportunity to have a direct deposit on their accounts.
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Reference
“ Benefits of a bank account.” (n.d.). Westchester gov. https://consumer.westchestergov.com/financial-education/money-management/benefits-of-a-bank-account
