The 5 Benefits of Having a Digital Bank Account

In today’s post-pandemic age, you want a bank that can keep up with your lifestyle. As such, among the advantages of a digital bank account is that you can enjoy the benefits of a traditional bank with the added convenience of managing your account from anywhere, at any time.

Gone are the days when you must use your lunch break at work to do bank errands or go through traffic just to visit a bank, as digital banking is here to change the game and make financial institutions more accessible. Banks are also constantly innovating their services to stay ahead of their competitors.

In this article, we’ll talk about the benefits of digital banking and what it can do for you!

What is Digital Banking?

Digital banking is the modern approach to banking. It utilizes technology and integrates these financial services into an online banking app. 

Online banks are not only a convenient option, but fast-growing to be a staple in today’s modern times. It allows customers easy access to their bank accounts and monitors their financial activities. It enables users to complete their financial responsibilities in the palm of their hand. The many security features of a digital bank also allow its clients to store their money in a safe place.

Benefits of Digital Banking

If you want to maximize the services that financial institutions can give, you’ll need to open a bank account. Once you’ve finished the registration process, you can now enjoy the advantages of a digital banking account like the ones we’ve listed below:

Easy Access

Before, if you need to deposit a check, talk to a financial officer, or request a document, you’ll need to show up at a physical bank during its fixed operational hours. So, if you have a busy schedule, you might need to carve out enough time to wait in line and accomplish these tasks.

With digital banks, the problems we’ve listed above are a thing of the past. The best digital bank in the Philippines gives you back your time by allowing you to request documents, deposit checks, and transfer money anytime and anywhere from your phone!

You get access to all the financial tools you need to keep your life running smoothly. The best part? It’s open 24/7.

Convenience

As we’ve said above, digital banks don’t have traditional hours and since the bulk of their services are available online, you can do all the financial transactions you need in the comfort of your own home. You can even open a bank account online.

With digital banking, your location is not a problem. You don’t need to brave traffic to travel to a branch nearby. So, you can spend your time doing things that matter to you. This makes digital banking the perfect solution for everyone!

Automation Features

Paying for utilities, credit cards, and other bills can take up a lot of your headspace. If you add this responsibility on top of all the other things you need to do, it’s not unusual to find yourself charged with late fees from forgetting to pay your bills on time.

With a digital bank, you can automate your payments to your billers. You can even automate saving. These automation features enable you to save money for your future and maintain your present by paying your bills on time.

If this feature isn’t working for you, you can cancel it at any time.

Smooth Transfer

Digital banks allow you to transfer money to your desired recipient at the drop of a hat. No need to withdraw money and then deposit it at another bank. You don’t even need to leave your house at all. 

Most digital banks have also partnered with InstaPay and PesoNet to allow you to transfer funds to any of its partner banks at any time for a small fee. 

Control Your Account

With a digital bank, you can lock and unlock your cards and authorize foreign transactions if you’re going abroad. You can also turn on your push notifications, so you’re alerted of any logins, debits, and credits to your account.

Digital banks give you full control of your account and allow you to customize it according to your needs. Some online banking companies even allow you to change your maximum transaction limits to better suit your needs.

For example, if your current withdrawal limit is set at Php 20,000, you can change it to Php 50,000 from your digital banking app. This change is instantaneous.

Reaping the Benefits of Online Banking 

As you can see, opting for a digital bank can change the way you manage your money and your time.

Thankfully, digital banks have made it much easier for anyone to open a bank account for the first time. Signups can be done online and once these forms have been submitted, all that’s left is to deposit the money into your account.

Simplify your life by choosing a digital bank that suits your lifestyle today.