Why Do You Need to Open a Bank Account?
Do you have a bank account? Most people would rather not have a bank account, either they are fond of their alkansya or they just want to avoid going in these institutions. What is it with banks which make a lot of Filipinos shun them. According to the Bangko Sentral ng Pilipinas (BSP) 2014 Consumer Finance Survey, 86% of Filipinos do not have bank accounts. With hundreds of bank branches across the country, only 14% of adults save in banks. Why? Why Pinoys do not have bank accounts?
- Do not need a bank account
- Bank location is far
- Cannot manage an account
- Service charges are too high
- Do not like to deal with banks and do not trust banks
- Earn money through saving’s account interest
- It shows and keeps a record of the income earned by the account holder during the year.
- A savings account encourages saving habit
- You can use a Savings account to make electronic fund transfers to another account.
- A saving account also allows internet banking and online purchases and shopping.
- Allows immediate access to cash
- 2 valid IDs (UMID, SSS, TIN, NBI clearance, etc.)
- Proof of Billing (Meralco, Maynilad, credit card billing statements, phone bills, etc.)
- TIN Number
- Some banks require 2×2 or 1×1 photos