Your money cannot multiply yourself. But by saving at a bank, you have the opportunity to develop funds. This is because banks have interest rate characteristics that allow the money you save to continue to grow. It’s just that, the amount of interest on savings accounts in banks is only 1-2% per year, and this interest rate also depends on the relevant banks.
By having savings in a bank, you can also make various transactions more simply. Ease is obtained because banks provide electronic banking services 24 hours via ATM, mobile or internet banking. One of the advantages is that you no longer need to queue to pay for electricity at a particular bank or PLN because it can easily be done through an ATM.
By having savings, you will be more motivated to set aside your money as savings. Thus, you can get the benefits of saving lives.
2. Current Account
Some people will be confused to distinguish bank products in the form of demand deposits with savings. Equally a product for saving money in a bank, some people feel that checking accounts are no different from savings.
Here are some of the characteristics of current accounts that make it different from ordinary savings products:
a) Type of Customer
Ordinary savings are owned by individuals. Meanwhile, although it is also intended for individuals, customers who use current account products are usually in the form of business entities.
b) Type of Withdrawal
The second characteristic is in the type of withdrawal. You can not rely on ATMs or tellers to withdraw current accounts. Unlike savings, funds in a current account can only be disbursed by check or demand deposit. Checks are payment instruments issued by the bank instead of cash. You can withdraw the funds listed in the check in cash as long as the funds stored in your checking account are sufficient. Meanwhile, giro is a non-cash payment transaction instrument whose cash cannot be disbursed. Funds listed in the current account can only be disbursed by transfer to a certain party’s account. Companies usually use giro to make salary payments to employees.
c) Account Opening Requirements
When you want to apply to become a savings product customer, you only need to attach your personal data in the form of an identity card and fill out a form provided by the bank. But when you want to open a checking account, there is one more document that you absolutely must have, namely the taxpayer identification number (NPWP).
Benefits of Giro
In addition to some of the characteristics above, Giro also has its own benefits for you. The following are the benefits of having a checking account in a bank.
a) Practical and Safe
Carrying large amounts of cash certainly carries a significant amount of risk. In addition to being unsafe because there is a concern of being robbed or scattered, carrying a lot of cash creates an inconsistency because it requires a large container and strict safeguards. With current accounts, you don’t need to carry large amounts of cash anymore.
b) There are no limits
Often you run into problems when you want to make a payment or purchase, but your savings have reached a certain limit so that on that day you can not make transactions again. At the current account, there will be no transaction limit. You are free to make payments or purchases as long as the balance in the account is sufficient.
c) Streamlining the Transaction
Giro launch each of your financial transactions, both payments and purchases and others. Of course some of you still remember how complicated manual salary collection when there is no transfer of funds from the current account to each employee’s account. With current accounts, everything is smooth.
d) Obtain interest / bonuses
Just like a savings product, you can also get interest from the funds that you save in a checking account. In addition to interest, there are benefits in the form of bonuses that you can get from the account.