10 best advantages of digital banks
Although everyone needs to use banking services in their lives, there are still few people who have known about digital banking. This is mainly because it is still very recent, but there are also some who do not know about its positive points. Nowadays, you can say without fear that the advantages of digital banks are far greater than any disadvantage you can imagine.
They are safe, reliable and do not have many of the problems that we see in traditional banks. It can also be great options for those who like to work from home to earn extra income, since it is possible to manage all your finances without leaving your chair. If you're curious, you can check out the main advantages of digital banks below!
1. No fees to have an account
To start, we already have one of the biggest advantages of digital banks, which is the lack of taxation to have and maintain an account. As most people know, traditional banks often charge you to have your checking account. Ideal for anyone who wants to make money and not lose it at rates that make no sense.
In the meantime, digitals generally do not charge anything, although there may be exceptions. This is great for anyone who needs an account and cannot simply pay for it to exist.
2. Skip the line
Digital banks don't usually have physical branches, so you don't have to go to one to solve a problem. The same cannot be said of the traditional ones, which require you to go to an agency even for very simple tasks, such as making a transfer or paying an expired ticket.
So you never have to deal with the dreaded bank lines. You can solve everything at home, either in the official app or on the bank's website.
3. No bureaucracy
Another of the advantages of digital banks is that you also don't have bureaucracy. As practically everything can be solved by the bank's app or website, you can perform any activity in a matter of seconds.
Of course, there may be times when you will need to read a term or agreement. But other than that, there are not many other types of bureaucracy to deal with.
4. Mobile app
Almost every bank has mobile applications today, but digital banking apps are of a much higher quality. That's because all operations are performed by the app, making it your main tool.
In the case of regular banks, apps end up being a secondary way of dealing with your account. The good thing is that it is usually possible to check your data, manage your money, make your transfers and communicate with the bank directly over there.
5. Easy communication
As we talked about in the previous topic, you can easily communicate with employees of your digital bank through your mobile app. This ends up being much better than having to go to an agency or having to call and wait for someone to answer you.
In most digital banking apps, you can submit a ticket with the subject you want to address. More direct chat is also possible.
Since all of your information can be passed on to the attendant quickly, you don't waste time on it.
6. Check expenses instantly
Those who use traditional bank apps must have already realized that it takes a few days for a transaction made with their credit card to appear on the digital invoice. Fortunately, the same is not true for digital banks.
If you have a card with them, everything is shown instantly and you can even receive a notification from the app to let you know. Not only is this great for you to get a sense of how much you're spending in the month, it also helps you to see if your card was used in a purchase that you don't recognize.
7. Free transfers
If we are going to talk about the advantages of digital banks, you can't forget about free transfers. It is worth mentioning that this is no longer a reality in absolutely all virtual banks, but it still is in most.
While many ordinary banks may charge to make transfers to other banks, digital banks often allow action at no cost. In some situations, this has a limited use per month, but it is still great.
8. Investment options
Incredibly, there are great investment options in digital banks for those who want to make money. Considering how basic these banks used to be in the beginning, this turns out to be a really impressive option.
There are even low-risk options for the most common users who just don't want to leave their money in the checking account without paying anything. Another advantage is that there are specialized digital banks or those that focus directly on this type of action, so it is worth checking out.
9. Easier limit increase
Raising your traditional bank credit card limit can be a very annoying task. Usually, you have to call your agency or show up to place your order.
In digital banks, as long as you have been using your card for a while and you pay without delay, you can place the order directly in the app. They will just check some data and tell you in a short time if the order was approved or not.
10. Credit card without annual fee
Anyone who opens an account with a traditional bank knows that asking for a credit card often leads to a very annoying and expensive annuity. This happens even if it is a regular card and is not able to make international purchases.
One of the advantages of digital banks is that you can request a credit and debit card, make international purchases and have no annual fee. Not all accounts offer the benefit, but the most popular ones always have that advantage.
What did you think of the advantages of digital banks?
Did you take advantage of our tips to find out what the biggest advantages of digital banks are? So don't forget to leave your comment telling us what you think of this new type of service.
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