Question

importance of opening a bank account

Answer 1

Hi there

Getting interest on your money. Cash that is hidden at home never earns interest, but savings in a bank account do, so your money grows over time. The longer it stays in an account, the more your money earns. Interest rates change, but the rule is that the more you save, the more interest you earn.



Thank You

Answer 2

The purpose of a checking account is to provide a very liquid, simple, convenient, and secure way to manage funds coming in (deposits) and those going out (withdrawals). ... Unlike savings and money market accounts, checking accounts have no limits on the number of monthly deposits and withdrawals.

hope it clarifies ur doubt dear....