India is one of the countries with numerous people who are not yet part of the financial system.
According to the World Bank, more than 190 million people are unbanked.
But the fact is that people are increasingly being encouraged to open a bank account. Nowadays,it is much easier and faster than a few years ago. While some still hesitate to open a bank account, there can be no denying all the benefits it offers.
Open a bank account
If you are one of those that have not opened a bank account yet, what are you waiting for? It will be more than worth it. If not, ask a family member or friend who has one. For sure, he or she will tell you all the advantages of having one and how his or her life was before it. You will want to open an account right away!
It is easier than you think. Nowadays, opening a bank account does not require much effort. Yes,thanks to technology it is possible to make all the transactions and operations you want with the click of a button. Yes, it is as simple as that. You will also be able to do it from home. You don’t even have to move!
Choose the bank you want. Most of them such as SBI, PNB, HDFC, ICICI and AXIS give you
the possibility to open an account through an online form. Sign up now, and you can start
enjoying all the benefits of it. Note: To open a bank account, you do not need to show that you
have money. You can even do it without having any money. In addition, you should know that
opening a bank account is an opportunity for all citizens, whether they are rich or poor.
What else should you know about opening a bank account? If you have a bank account, things
will be much more straightforward, for example, you could use e-wallets such as Skrill and
Neteller. And now that online betting in India is becoming more common, it will be also easier to
deposit your money! But what is the best Indian betting site? Find out at Sbo.net.
Use different payment methods
Today, there is a wide variety of payment methods. The most widespread are debit card and
credit card. However, over the years, different payment modalities have been developed. Even
new currencies.
New currencies? Yes, these are cryptocurrencies. They are digital currencies that are used for
transactions in the same way as a traditional currency. They were created to guarantee the safety of the users as transactions are carried out anonymously. Therefore, no personal information is stored on the site. It is said that cryptos are here to stay and can drive Indian economy to new height.
On the other hand, e-wallets are also available. These are digital wallets or purses where you can digitally load an available amount of money. It is not a bank account, it is just a tool that
facilitates electronic payments at the merchants affiliated to the system, in fact, in a very fast
way.
As you can see, the financial sector is improving the banking experience by making things easier with its different payment methods.
Deposit money not the only goal
Opening a bank account often means depositing money, but it also involves the possibility of
building up a credit history that will allow later access to other banking products and services.
What would you do if someone who you don’t know wanted you to lend his or her money?
Would you give it to him or her? Of course not. It is impossible to put your head on the block for
someone with whom you are unfamiliar. Even more for lending money.
So, if you are someone who, at some point in your life, wants to invest or feels that you will need money to meet expenses, it is best to start building trust with a bank now. And your ability to negotiate will depend on your credit history. The better your history of credit, the higher your
score. Therefore, it is advisable to open an account.