What are the disadvantages of saving money in the bank?

[Shigobad20201]

Using the banking industries in my country as an example , saving money in the bank is just for security purposes because saving money at home is better and your money will be intact rather than saving in the bank where the bank will be deducting unnecessary charges everytime.
Using the banking industries in my country as an example , saving money in the bank is just for security purposes because saving money at home is better and your money will be intact rather than saving in the bank where the bank will be deducting unnecessary charges everytime.

 

[Robust]

The disadvantages of saving money in the bank is that once you mistakenly provide an important information to any scammer he or she will be about to wipe your account all.
The advantage of saving money in the bank is that it will not be stolen from us and we can get it back while the disadvantage is that it can get less in the Bank the more you keep it there because of charges.

 

[Shigobad20201]

Saving your money in the bank has many disadvantages than the adadvantages , for example bank nowadays deduct unecasaary charges which makes saving money in the bank.

 

[tyrim88]

Due to my experience with many banks folding up, I've developed more interest in this subject. Are our money safe in the bank?
What would happen if a bank folds up, Will our money be gone? are there ways to retrieve our money?

One thing about busineses or individual saving money in a bank is that the money are being insured by an insurance firm,so the issue of money being lost as a result of a bank being in distress will not arise.

 

[Maxi]

It's very rare for banks to fold now. Even if they have any challenges that's going to resort to their closing up, customers would be informed.

The only disadvantage I see with having your money in the bank will be cut out from access when they have network downtime.

 

[Shigobad20201]

One of the disadvantages of saving money in the bank to me is that your money will always be stagnant and sometimes due to unecessary charges , your money will continue to reduce .