Investing in Digital Banks yield better interest

[relcap23]

Yes, interest rates on your savings is higher if you put them in the digital banks. They can offer interest higher than 3 percent per annum plus some digital banks offer features where one can use the card as a loyalty card and points are redeemable in cash

This is one form of small time online investment where you can manage your online funds and getting returns from it. Your funds are kept liquid because you can use them anytime.

 

[Starmix]

That is the latest method in the bank where I renewed n account, the Union bank, PayPal affiliated bank. I renewed my account because PP no longer accepts multiple use of the same account.

 

[Stardom22]

I honestly hear about digital banks for the first time. However they look promising and therefore I think they are worth trying out. You never know what would be working out for you.

 

[cherry123]

Like really,interest rates on your savings is higher if you put them in the digital banks. I didn't know about this i have to try it out then good to know this

 

[relcap23]

That is the latest method in the bank where I renewed n account, the Union bank, PayPal affiliated bank. I renewed my account because PP no longer accepts multiple use of the same account.

What do you mean PP no longer accept multiple use of same account? As regards to digital banking I was offered this debit card which is also a wallet attached to an app. It has good features as it can also be used as loyalty card. It's by Gokongwei Group. so my Robinson rewards card are now linked to it.

 

[cherry123]

Yeah digital banking look promising and seems a venture that can be profitable. I think it worth trying out thrm . When once there are not going to run with customers money.

 

[relcap23]

Yeah digital banking look promising and seems a venture that can be profitable. I think it worth trying out thrm . When once there are not going to run with customers money.

This kind if banks are also monitored by the Central banking system in the country. Ine reason they could give better interest rates than traditional banks is the reduced cost of overhead.

 

[nomad]

Yes, interest rates on your savings is higher if you put them in the digital banks. They can offer interest higher than 3 percent per annum plus some digital banks offer features where one can use the card as a loyalty card and points are redeemable in cash

This is one form of small time online investment where you can manage your online funds and getting returns from it. Your funds are kept liquid because you can use them anytime.

What do you mean by digital banks? Do you mean to say online banks? In my home country, you can get access to online services from your local banks. You can not only save money but send or pay for services. You can even apply for a loan.

 

[eldavis]

This is actually true, these days most of these digital banks give out more interest than normal banks. People even prefer to go for them due to the fact that they charge less than normal banks.

 

[cherry123]

Sure digital banking is here to stay and it is looking promising already and seems a venture that can be profitable and productive at the same time. Anyone can enjoy this

 

[Stardom22]

The digital Banks often offer higher interest rates for the savings Made on them. This is probably because there is a low investment in the basic infrastructure for the bank since they operate virtually.

 

[Suba]

Because of the difference in terms, I also don't understand what is meant by investing in digital bank, do we buy digital bank shares, or invest using m-banking to buy investment instruments such as mutual funds.

 

[Stardom22]

I think it through making high yield savings account on the digital Banks. They do pay a reasonable interest rates in percentage of the savings per annum which is very hard to find in other banks.

 

[Springtime]

Virtual banks (banks without physical branches) are still new in Hong Kong. There are 8 licenses virtual banks here. They offer better interest rate for deposits. But personally, I feel more comfortable putting my money in traditional banks with physical branches.

 

[Stardom22]

The interest rates offered by the digital Banks are far much better than those earned on the traditional banks in most cases. That is why most people have reverted to the online banking as of late.

 

[deucher]

Investing in digital banks can offer higher interest rates than traditional banks due to lower operating costs. However, it is important to research and compare the interest rates, terms and fees of various banks before making an investment decision. Additionally, digital banks may have limitations such as: B. Lack of physical branches that may not be suitable for all investors. Before deciding which bank to invest in, it is important to consider your investment goals and risk appetite.