Piggy Bank Or Commercial bank

[Mentor]

Commercial banks because they make money by providing and earning interest from loans such as mortgages, auto loans, business loans, and personal loans. Customer deposits etc ...

 

[Toyoabasi]

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

Seriously, if not for safety reasons...I would pull out all my money and save in a piggy bank.
Just for the month of October, you should see the number of deductions made to my savings in the form of fees.

 

[Elladaddy]

I'll say piggy bank is good as regards its operations compared to the commercial banks. The idea here also is that they don't charge as the commercial banks.

 

[Justin]

Current account or checking account in a bank account is an account where you don't earn interest, you earn interest on fixed deposit or saving accounts. You don't earn anything with a piggy bank

 

[tyrim88]

It's still safe for you to save in commercial bank rather than keeping it in piggy bank at your home cause if you are not disciplined then you can't keep one

I think the issue of discipline is what will be the major issue here,because if an individual is not well discipline enough,he will end up using the money he has been saving,jut because it is very close to him.

 

[Hrtbeat]

I don't support the idea of saving in piggy bank. It's risky than commercial banks.

 

[Good-Person]

The problem is that commercial banks use your money to make profits. It is they who are being benefited from your money. As far as piggy bank is concerned, you may not be able to save lots of money, so it depends on the amount you want to save,

 

[eLdavis]

The problem is that commercial banks use your money to make profits. It is they who are being benefited from your money. As far as piggy bank is concerned, you may not be able to save lots of money, so it depends on the amount you want to save,

Another problem with commercial banks recently is their ridiculous charges. I was charged three times in just one day for services I either know Notting about or am not using. Have you had similar experience before?

 

[Lens]

Piggy banks as been in existence for a very long time. The kids would save some stipends in it and later break it during the festive period. I would advise that you use the commercial banks for safety purposes.

 

[Godspower]

Saving money in banks these days is becoming frustrating due to the numerous charges from balance on transactions. Instead of using a piggybox, there are other interest-free Fintech companies you could use such as Branch, Piggyvest or Kuda bank to save money.

 

[Lucy ID]

The truth is everybank has there interest seek for or protect at all time non is better, but I still prefer piggy bank than commercial banks

 

[YERUS]

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

Both are the same thing, because your money just sits in there staring back at you.
But the piggy box is even preferable, because it would not get to suffer all the deductions made to our little savings these days by commercial banks.

 

[Seno inyang]

Commercial banks is sure for me despite the charges, they don't charge me much though. I don't want to use piggy bank because I don't trust those I'm living with. on the contrary, a thief could break in and make way with it.

 

[kinqzbitz]

Well it is safer to put money into the bank and one can only use the piggy bank if it is a small amount of money because it is not safe but putting your money in the bank Is safe

 

[Sotherefore]

This will just depend on you, but if you think that bank is not suitable for you to save your money you should rather move your money to cryptocurrency exchanges and save it as a stable coin which is busd or usdt depending on your choice
, With this the value of your currency will be maintained and there will be no unnecessary charges.

 

[Kubiat-Abasi]

The first time I tried saving in a piggy bank although mine was a piggy bottle, I made close to $40 and that was what I used to get my first phone. I save in piggy bank to solve immediate needs. Infact, this would become goal I must begin in the coming year 2022!

 

[YERUS]

Seriously, if not for safety reasons...I would pull out all my money and save in a piggy bank.
Just for the month of October, you should see the number of deductions made to my savings in the form of fees.

This is what is making me begin to dislike saving in commercial banks.
They would make several deductions in a space of two months instead of adding significant interest.
I would prefer the piggy bank over commercial banks.

 

[Ub40]

Actually, commercial banks charge some fees from your saved money, which has made some people want to consider piggy bank as an alternative. But using piggy bank could be very risky in terms of the security of the funds there. And one may not be able to save a very large amount of money in piggy bank. It is just my thoughts.

 

[Psalmseen]

The debate on whether to keep.your money on a piggy bank or in a commercial bank depends on your motive. Keeping money in a commercial bank is frustrating nowadays. You keep a sum of money and after some days or weeks, it would have reduced. But piggy bank isn't like that. So I prefer piggy bank

 

[Heatman]

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

That you are making use of commercial banks for your banking transaction doesn't mean that you can't also make use of piggy bank to save money at home as well.