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Checking account 101: Why you need a checking account
Many young urban professionals in the Philippines have savings accounts. According to a study, 77% of millennials feel financially confident, with 41% reporting that they set aside money each month for saving.
This is the first step towards being financially wise as they start setting aside some money to manage their personal finances.
Similar to having a savings account, a checking account has its own purpose.
Bpi checking account
Here’s what you need to know about checking accounts and situations where they can be useful.
What is a checking account?
A checking account is a deposit product that comes with a checkbook for funds disbursement.
Checking Account products may also come with a Debit Card to enable account holders to access their funds anytime through ATMs, Point-of-Sale Machines, or for online purchases. While a savings account encourages you to set aside funds for future use, a checking account on the other hand, is a tool to help you manage your transactions.
Why do you need a checking account?
While debit and credit cards have b
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