Why you might need to have more than one bank account.

[Iboro]

I have heard people say that if you can maintain one bank account for the majority of your life, that you are a loyal person.

It is not good to have one bank account. The very reason I advocate for multiple bank accounts is that one bank might have a server issue and you need to do a transaction urgently. You would just be stranded because you are operating just one account.

 

[Salt]

In that case we can have 2 or max 3 accounts as we cannot expect all 3 to be down at one time and its better to not for so many accounts as it will be an expensive option

 

[Kane]

You can have as many bank accounts as you want, provided you do not have to pay charges for account maintenance and you can maintain the account with zero balance.

 

[Vehli]

I have 4 bank accounts and all are in working order and I don't need to pay any maintenance charges. I have taken ATM card from only one bank so I am not paying any extra money.

 

[Salt]

I have 3 banks accounts of which one account is the oldest and I don't use it much so I am even planning to close that one and get my money transferred to the new account as the older one is a bank that is not my favorite and don't have online payment option

 

[Bisolami]

You can have as many bank accounts as you want, provided you do not have to pay charges for account maintenance and you can maintain the account with zero balance.

There are sometimes that the transaction of a bank account may not be going so you just have to make use of the other bank.

 

[Salt]

I now have bank account in total 4 bank and will be planning to close one of my bank account which I use the least

 

[Inem]

The challenge is that all those banks would be charging you service charge. If it is more than one bank, the service charges combined are very high.

 

[Heatman]

I have heard people say that if you can maintain one bank account for the majority of your life, that you are a loyal person.

It is not good to have one bank account. The very reason I advocate for multiple bank accounts is that one bank might have a server issue and you need to do a transaction urgently. You would just be stranded because you are operating just one account.

I don't even need anyone to tell me that I should have two different bank account because if you are running a business and you are using your personal account to run your business, it is always going to have your money mixed up in a way that you are not going to know exactly how your business is doing financially. This is because your personal money will always be getting involved with the business money.

 

[Ja sa bong]

I had only one bank account for years when I finished college. It was enough for everything I needed to do with receiving money and sending payment.

It was when I had more money movements in and out of my accounts which became confusing I had to open another accounts.

 

[Heatman]

There are sometimes that the transaction of a bank account may not be going so you just have to make use of the other bank.

Our banks here always have network downtime during the weekends. It's affected me several time where the money I sent never deposited to the account I sent it but the money left my account. It's very annoying and frustrating at the same time. It's why I started making use of online banks like OPay, they always have steady network.

 

[Good-Person]

I don't even need anyone to tell me that I should have two different bank account because if you are running a business and you are using your personal account to run your business, it is always going to have your money mixed up in a way that you are not going to know exactly how your business is doing financially. This is because your personal money will always be getting involved with the business money.

I am not a really big fan of opening a bank account because I simply do not like banks. banks in here are really ridiculous institutes. They will run behind the customers when they need customers to make investments with them. However, in case if the customer needs help, they will never help them,

 

[Heatman]

I am not a really big fan of opening a bank account because I simply do not like banks. banks in here are really ridiculous institutes. They will run behind the customers when they need customers to make investments with them. However, in case if the customer needs help, they will never help them,

Unfortunately, it is going to be very difficult for me to stay out of making use of banking institutions because there are some transaction that I would need to do which will need the assistance of bank to carry it out. This is especially when I have not had access to online payment processors that are going to help me to make international payment without stress.

 

[Good-Person]

Unfortunately, it is going to be very difficult for me to stay out of making use of banking institutions because there are some transaction that I would need to do which will need the assistance of bank to carry it out. This is especially when I have not had access to online payment processors that are going to help me to make international payment without stress.

Well, the sad thing is that not all the people are using payment processors in order to collect payments. For example, not all the local people are using payment methods such as Skrill, etc. Many people do not even use local payment processors and they prefer having a bank account.

 

[Heatman]

Well, the sad thing is that not all the people are using payment processors in order to collect payments. For example, not all the local people are using payment methods such as Skrill, etc. Many people do not even use local payment processors and they prefer having a bank account.

Unfortunately most local businesses in my country don't resort to making use of payment processors when it comes to accepting payment for any kind of transaction in the business but only banking transaction..

This has become a very big challenge because if you are relying on makings of payment processors to carry out any kind of business with them, it is not going to be possible for you to deal with them.

 

[Good-Person]

Unfortunately most local businesses in my country don't resort to making use of payment processors when it comes to accepting payment for any kind of transaction in the business but only banking transaction..

This has become a very big challenge because if you are relying on makings of payment processors to carry out any kind of business with them, it is not going to be possible for you to deal with them.

Usage of E-Wallets have recently become popular in my country. The very first company that introduced E-wallet was created many years ago. However, they created their own E-wallet in the year 2009. Even at that time, it was not that popular at all. So, it will take a much longer time for people to adopt such changes.

 

[Heatman]

Usage of E-Wallets have recently become popular in my country. The very first company that introduced E-wallet was created many years ago. However, they created their own E-wallet in the year 2009. Even at that time, it was not that popular at all. So, it will take a much longer time for people to adopt such changes.

Currently, it's the usage of online banks that's getting very popular in my country. Most people are fed up with what our normal banks in the banking sector have been doing for years and that's pushed so many people into using online banks. OPay, Moni Point and PalmPay are the biggest online banks used in my country in that order.

 

[Good-Person]

Currently, it's the usage of online banks that's getting very popular in my country. Most people are fed up with what our normal banks in the banking sector have been doing for years and that's pushed so many people into using online banks. OPay, Moni Point and PalmPay are the biggest online banks used in my country in that order.

We also have similar kind of services in our country that are similar to services such as Monie Point. We have Easypaisa and Jazz Cash in our country. These two are the most popular online banking systems and many people use them. However, people must be really careful when it comes to using such kind of applications. Never share your personal details with anyone.