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Discussion in Bank Accounts started by mildredtabitha • Oct 21, 2017.
having multiple account is good if u have various source of income
I don't see the point in having multiple bank accounts if you're on a limited salary as you will only increase fees and costs..
I have two bank accounts but I do feel the burden of managing. Despite the advantage of earning interest, it's still quite expensive mainly to the middle class earners. I would prefer mobile money or the likes of PayPal
I have two. One personal savings account and the other one is for payroll. Well, if Paypal is considered as a bank (of your own) then I'll include it in this narrative.
Al though I can manage more accounts but I prefer to have one or two accounts only as active one. These days we have many facilities because of technology so that we can easily manage those account through internet. So it is not hard. But in the end of the year managing income tax and all that is not easy. I mean we have to figure out all the transactions, so it is better to have limited accounts at that time.
Managing 2-3 bank accounts is not such a difficult job. You have to maintain a diary for these bank accounts. Visit these bank accounts online every week to keep track of your transactions. If time permits then whenever possible visit the banks and keep in touch with the employees.