Are you among people who believe in keeping one bank account for all your transactions? It may seem convenient, but in reality, it exposes you to online fraud as well as difficulty in tracking your payments. Here, we explain the ways in which the decision can cost you bomb.

Prone to hacking

Traditional banking has its own merits but it can be prone to hacking when conducting transactions online. If you have all your savings in one account, it leaves your entire investment vulnerable. However, if you maintain separate accounts for your daily transactions and another for perhaps your savings or paying EMIs, then obviously, your risk is less. If security is a priority, you must consider opening an account with Airtel Payments Bank, India’s first truly digital bank, which offers an extra layer of security of Airtel Safe Pay, where not even a single penny gets debited with your approval. You can open Airtel Payments Bank account with just a video call and rest assured your account data is protected.

Difficult to track transactions

With one account being home to all your transactions, it can get difficult to track your balance. You may, for instance, believe your account is flush with funds, but once your EMIs, bill payments and shopping or other transactions are debited, you may not be able to track how much is actually left. On the other hand, if you maintain separate accounts for separate reasons, such as one that is meant exclusively for receiving payments and another with Airtel Payments Bank for expenses and daily transactions, it can be extremely easy to stay on top of your savings.

Over-dependence on one bank

It’s not a good idea to be over dependent on one bank, and that is bound to happen if you restrict your savings to one account. Moving to another bank gives you the opportunity to take advantage of various deals and benefits, such as with Airtel Payments Bank, a digital-first bank. You are also able to compare interest rates, get discounts on loans, etc., and opt for one that suits you best.

Last words

Therefore, it is clear that different accounts serve different needs and offer more security and benefits, especially when it’s with Airtel Payments Bank. From offering banking solutions to taking care of investment needs, your Airtel Payments Bank account is a 360-degree digital gateway to securing your financial future. Whether it’s making a deposit, speedy withdrawals or making daily payments, the Airtel Payments Bank, backed by the power of safety and security, makes banking as simple as clicking a button. Go ahead and open an account now.

 if you haven’t already, and enjoy the convenience of money management more efficiently.