Use your bank account affectively
Knowing how to use your bank account in 2014 entails using certain steps that customers should consider in order to use your bank account smartly, as it could benefit your needs.
By knowing your account, you can become acquainted with the offers your account allows you to use to its full potential.
CFO of Smart Transactional Banking, Innocent Hlungwani, adds that there are many different types of bank accounts, and if you don’t know what yours is, or what it allows you to do, this should be the first thing that you should find out.
“How you use your bank account will determine whether you have the correct account that serves as source of saving. If you hardly use your account, a pay as you go account will be suitable for you, with low monthly fees and charges per transaction,” says Hlungwani.
“However, if you transact regularly, some banks offer accounts where you do not pay per transaction, but, rather a monthly fee, hence, it allows you to budget for your banking costs on a monthly basis.
“Thus, using your bank account goes beyond the simple use for transactions and withdrawals. Look out for banks offering rewards to customers for banking with the financial institution for example by using their products and services, such as online banking, digital payments and airtime transferals.
“Hence, the bank provides the necessary means so simplify your banking experience, in a fast and effective way to reach your money safely. Having large amounts of money in your possession and having to make payments may now be history.
“While it might seem to make sense to withdraw cash from your account to make payments, it is not the best way to use your account.
“Not only is carrying around cash a problem from a safety point of view, you can also quickly rack up you bank fees if you are drawing cash frequently, and these fees are especially high if you withdraw from another bank’s ATM,” says Hlungwani.
