A personal account - what is it and what are its advantages?

February 25, 2020

Are you sure you know the benefits of having a bank account? See what opportunities open up for you when you open a bank account.

Next generation banking services

In the last few years there has been a real revolution in the market of banking services, as well as their huge popularization. Today, almost every adult Pole has a bank account, and thanks to constantly modernized technologies, new possibilities open up for you almost every day. Support and management of an account from a mobile phone, non-cash payments, payments from a smartphone - you can exchange them endlessly. However, all this starts with the first bank account, usually a personal account, i.e. a savings and settlement account. It will take you at most a few moments to open the ROR, you don't even have to get up from your couch in the living room, but you need to spend more time finding the right offer for your needs. Of course, it's worth it, because having a personal account has many benefits - and in different fields.

Personal account - what are his strengths?

Many people still keep their savings at home. Sometimes it's a safe, sometimes it's a box, sometimes even the proverbial sock. However, this is not the best way to do it, as it poses a high risk of losing funds, either during theft or as a result of a random event. It's similar when you carry a lot of cash with you. Your funds will certainly be much safer if you deposit them into your personal account. This way, they are protected, and even if someone steals your card, they are unlikely to use it without a PIN, and you can block and cancel it immediately. That's not all about the security of your money - the funds accumulated in your personal account are also protected by the Bank Guarantee Fund up to €100,000. By opening a bank account and giving money to it, you show the trust of this institution, which has no intention of letting you down.

There are more arguments for opening an account with a bank. A personal account will allow you to manage your budget better and more conveniently. You can easily check your revenue and expense history, and you can generate reports on your finances to find out what you spend most on. This is a great step to start saving effectively. In addition, through e-banking you can pay your bills, invest on the stock exchange or apply for funding from the 500+ programme.

A personal account is often necessary to take out a loan and can also help you get better terms in the form of lower interest rates or longer repayment times. And these are still just some of the advantages of having a savings and checking account. Remember that if opening an account only takes a moment, it is recommended to carefully review the available offers to make the best choice.