Saving On E-wallets

Discussion in Savings & Investments Plans started by tonyb • Feb 3, 2017.

  1. tonyb

    tonybActive Member

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    Would you save your money on e-wallet? Fear of a hack would make many think that saving money online in the e-wallet would be very risky. But come to think of it even the banks do operate online too. My take, with the advancement in online activities I think the key is getting the adequate security for our transactions and money online.
    Would you consider this as a method to save money with no interest.
     
  2. Ke Gordon

    Ke GordonWell-Known Member

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    I use wallets to store money in as part of an app program. It seems to be the new way to save money. These are just some of the ways to save money and have easy access to it. A number of apps and web based programs are now offering wallets as a part of their program it seems.
     
  3. Shine_Spirit

    Shine_SpiritActive Member

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    Yes, I usually save money using this method and it's definitely a great one!

    It's an extremely secure way, not just to save money but to handle it virtually. Everything is very practical and very safe. Until now I have never had any kind of problem or complaint... I only got compliments because it's really awesome (by the way... I've already convinced many of my friends to use this method). ;)
     
  4. Jasmin Cottontail

    Jasmin CottontailActive Member

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    I don't think I would like to save my money on E-wallets as I find them less secure. Well let's say they are secure but hearing a lot of news about hacking and phishing, I don't think I'll be comfortable leaving my money on my E-wallet. I only use my E-wallet in making online transactions since they are convenient but not in saving money (as for me).
     
  5. Jamille

    JamilleActive Member

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    No, I don't think I'll use an e-wallet to save money. I'll probably use one if it will help me save some cash when buying stuff that I regularly use or when having one will give me discount on stuff like prepaid phone loads, gas, or electricity. I would prefer to save my hard-earned cash in an interest-bearing deposit account. This is a more secure and conservative way to save money. Besides earning a little interest, a deposit account is more secure because our laws require banks to secure the deposits up to a certain amount. Hence, a bank may close but I'll still be able to recover my deposit. I don;t think that e-wallets offer similar level of security.
     
  6. Jessika

    JessikaActive Member

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    No, I save money where it can earn me money or pay down debt. I don't see any reason to hold money in an e-wallet when it can go off a credit card balance or into a savings account. It sounds trite, but if I work, so should my money!
     
  7. harijobs

    harijobsActive Member

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    With the sudden demonetization in my country, I have recently started to use e-wallets. Though there is fear of hacking and the risk I see it as handy and comfortable as I don't save a large amount of money in them.
     
  8. luri

    luriActive Member

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    I would never consider saving money on my ewallet. First of all, some ewallets may charge you for inactivity, secondly, your ewallet may be hacked, thirdly, ewallet may turn scam. Therefore, keeping money in ewallet for a long time. When I have money on my ewallet, I either withdraw to my bank or spend the money on something I badly need. Furthermore, you don't earn interest on your ewallet balance but if you keep the money on your saving account, you will earn interest, which is a good way to multiply your earning.
     
  9. Zero

    ZeroActive Member

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    I wouldn't advise you to do save any of your hard earned money in an e-wallet, i have seen a lot of people have their account frozen, limited or even deleted without being given a proper reason.
     
  10. larryl332

    larryl332Active Member

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    I was never that big on the idea and the concept of the e-wallet, and I think that just having that option to have it acessable but also online is a little worrisome to me, despite any savings.