Piggy Bank Or Commercial bank

[Psalmseen]

Both Banks are good but just that piggy banks involves a high risk. But the charges of commercial banks these days is so alarming that they deduct unnecessary money from one's bank account.

 

[Setho]

Banks have provided the safest means of saving large sums of money for a long time, yes they do charge but will you compare the small charges to the risk or robbery that you might fave at home if you keep in a piggy bank.
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No matter how annoying traditional commercial banks can be, they are still ideal who anyone who wants to save money. This is because piggy banks are not secures and so not give interests.

 

[Bousine123]

I don't fancy any of the two things you have mentioned, you can try saving with online saving business platforms. They will offer you interest.

 

[eLdavis]

Yes this year I started using piggy bank, I planned on doing it for the whole year but I found out my money was not safe. The quality of the money started degrading and if you are not careful, does ants that eat wood might eat it as well.

 

[Niftyyem]

There are so many piggy apps and it is actually hilarious that you were thinking of saving in a wooden box to be kept at home. What happens if you get robbed and the box stolen? As a Nigerian, I suggest Piggyvest. It is one of the very best.

 

[kayode10]

It requires high level of discipline for you not to touch the money in the piggy bank. As for me, I still prefer commercial Bank as money is more secure here than the piggy bank.

 

[joy101]

I don't think that idea is good of saving money I prefer saving my money in the bank where it is be secure for me, instead of saving piggy bank.

 

[Kingstone]

I still prefer having a good savings account to a piggy bank, it has many advantages like;
Interest rate on your savings regularly
You can withdraw any amount at a time and leave the rest unlike piggy bank.
Your funds are still readily available. ...
Your money is kept safe. ...


You can open an account with very little money.

You can also withdraw your money at anytime on Piggybank unless its a target savings or safelock. I use this stuff often and I actually like it. Risky or not? I don't think it is.

 

[Alexandoy]

Both Banks are good but just that piggy banks involves a high risk. But the charges of commercial banks these days is so alarming that they deduct unnecessary money from one's bank account.

Aw, that is unfair to be charged for depositing your money. In the Philippines your money in the savings account can still earn even if the interest is minimal. But at least you do not pay a charge because the bank is making use of your money. With the piggy bank you have instant cash and that is also okay with me.

 

[Pousinha]

Wait a minute, I got confused. Do you mean to say that in Nigeria banks charge a fee for keeping your money? That is quite strange to me. Here, banks pay an interest on the deposit no matter how small. I think the rate now is just 1% per annum. But still and all our money is safe in the bank and I don't pay a fee. Some of my cash are in my piggy banks - several hiding places in our home are my secret stash of cash.

Not only in Nigeria, dear friend. Some European banks do the same. An important multinational Latin American bank do the same (I carefully avoided to open a savings account, and worse, a currency account through that bank). In any way, piggy banks in my current are not that convenient cause high rate of inflation. And in my former country it's even worse, as burglaries occur each few minutes.

 

[jeff87]

Considering the high rate of charges from commercial Banks this days in Nigeria, it has been giving customers sleepless night on how to save their money. Now I'm considering using piggy bank, a from of wood designed to house some paper currency and can be broken whenever the money Is needed. Is this idea good to save money or not

I do not think that piggy bank is a good idea. There are news in our country were thousands are money are put into waste because of saving in piggy banks. It is due to termites eating the money paper. Also when there is a fire emergency in your house it will be consumed by fire.

 

[Richard92]

For me I will prefer commercial Bank irrespective of the charges and levy they impose, because it is secured especially with major and investment savings but you can't try that with piggy banks, where your house can easily be burgled

I prefer commercial Bank than any kind of bank the only bank I operate now is commercial Bank I don't trust other banks and you know really know how they operate.

 

[Setfragil]

Except you want to be saving chicken feed, there is no way piggy bank will replace a commercial bank. Piggy bank is not safe as mouse can enter inside of it and eats your money into pieces.

 

[Mayox25]

Saving money in piggy bank or commercial bank I will say that the important thing is to be disciplined and exercise restraint on wanting to access the money saved when you have not yet met your target on why you are saving in the first place.

 

[Alexandoy]

Saving money in piggy bank or commercial bank I will say that the important thing is to be disciplined and exercise restraint on wanting to access the money saved when you have not yet met your target on why you are saving in the first place.

Using the money that was saved is one issue that is common. Your target is ruined when you get an amount from the savings to spend on something that is not a necessity.

 

[Setfragil]

There is no way that you will compare a piggy bank to a licensed commercial bank. Piggy bank is only good when you have petty money that you do not have a good use for.

 

[Kelly5]

Wether you have now choose to call the carved wood a piggy bank or what not, the fact is that you will be keeping that money in your house. Is that a wise thing to actually be doing because bank charges are getting to you?

 

[Richard92]

For me I will prefer commercial Bank irrespective of the charges and levy they impose, because it is secured especially with major and investment savings but you can't try that with piggy banks, where your house can easily be burgled

I prefer to save my money in commercial banks commercial banks are the only banks that I'm used to that I've been dealing with right from when I started saving in Banks.

 

[Ceeny007]

Considering the high rate of charges from commercial Banks this days in Nigeria, it has been giving customers sleepless night on how to save their money. Now I'm considering using piggy bank, a from of wood designed to house some paper currency and can be broken whenever the money Is needed. Is this idea good to save money or not

Just today someone sent me money for safe keeping,and they deducted a significant amount Which is crazy I think we should Start keeping our monies at home

 

[Josemendez]

The whole piggy bank stuff is very new to the cryptocurrency world and as such people are a bit very scared of the system and thus commercial banks will be the best.