answersLogoWhite

0

It is better to keep the money in a bank account because:

  • The money will earn an interest which will be an additional income for you
  • The bank will grant loans to other customers who need the money
  • This money will be used by those customers for their business needs
User Avatar

Wiki User

13y ago

What else can I help you with?

Related Questions

Why is it important to have a bank account?

Bank account is very important now a days life due to following reasons. If you are employee then to get salary. If you go out city and need money you can get via ATM or your friend or family members can send you money on line in your bank account. So it makes your life so simple and you do not need to take money on large journey just have your ATM card of bank account.


How does a child savings account work?

A child savings account is a bank account that allows and teaches your child to save their money in a safe and responsible way, at a bank instead of somewhere at home where it can get lost.


What is the advantage to bank of home banking?

1. you don't have to go out of home to the bank 2. saves time 3. you an easily transfer your money to another account


Can I transfer money to the Pakistan bank account?

Yes you can, I also sent money to my home yesterday with remit choice limited


If your car is repo'd in NC can they take your home or 2nd car or money in your bank account?

no they cannot.... no they cannot....


How do I open money market account with a bank?

You can open a money market account with a bank with the minimum deposit and filling out the appropriate forms. These forms include your social security number, drivers license, and home address to ensure you are not committing fraud.


Should I keep cash at home for emergencies or is it safer to keep it in a bank account?

It is generally safer to keep cash in a bank account rather than at home for emergencies. Banks provide security, protection against theft, and the ability to earn interest on your money.


How does a saving account work?

A child savings account is a bank account that allows and teaches your child to save their money in a safe and responsible way, at a bank instead of somewhere at home where it can get lost.


Are you allowed to keep a lot of money at home?

You can keep a lot of money at home if you want to. As long as you have legally earned money, you do not have to keep it in a bank. It may be safer in a bank but you can keep it in your home.


What is non home branch in bank?

the home branch is where the customer has opened his or her account


What documents do you need to open a bank account with Bank of America?

To open an account at Bank of America, you will need the following for each applicant;1. Social Security number2. Home Address3. Current E-mail address4. Debit card or bank account number to transfer money from an existing account at another bank or financial institution. Since BofA opens accounts and handles mortgages for illegal aliens, a social security number is not needed.


Is it advisable to keep cash at home?

It is generally not advisable to keep large amounts of cash at home due to the risk of theft or loss. It is safer to keep money in a bank account where it is protected and insured.