Being a savy means you must know how to managed your cash and funds to know where it go and how many you save. I might also termed it as personal cash-flow management, where the movement of cash in and out from you.
Any cash-flow management requires a place where you will kept and tract your cash, and for me, I used Personal Bank Accounts. Aside from my personal bank accounts, I might also include piggy banks. You might laugh at me but I used it to kept my saved coins that I may not used for. One of my routine is I collect P10 piso coins and hold it at my piggy bank. When that piggy bank is already full, I transferred it at my personal bank account. Clever huh!. But let's go back to personal bank account. Personal Bank Account is very important tool to monitor our personal cash-flow due to we can have access on every transactions and records we withdraw and deposit it(e.g ATM receipts). It is a also vital tool to know if we are overspending or not.
There are so many Banks offering savings and checking accounts. But here is my 7 personal criteria and checklist to consider in selecting my personal bank account:(In particular ranking)
In the Philippines, I gather some data from the selected three banks online. Opening a personal bank account with their Interest rates per annum as of August 06,2011 and a gentle initial deposit ranging from P0.00-P15,000.00 only.
Any cash-flow management requires a place where you will kept and tract your cash, and for me, I used Personal Bank Accounts. Aside from my personal bank accounts, I might also include piggy banks. You might laugh at me but I used it to kept my saved coins that I may not used for. One of my routine is I collect P10 piso coins and hold it at my piggy bank. When that piggy bank is already full, I transferred it at my personal bank account. Clever huh!. But let's go back to personal bank account. Personal Bank Account is very important tool to monitor our personal cash-flow due to we can have access on every transactions and records we withdraw and deposit it(e.g ATM receipts). It is a also vital tool to know if we are overspending or not.
There are so many Banks offering savings and checking accounts. But here is my 7 personal criteria and checklist to consider in selecting my personal bank account:(In particular ranking)
- . Bank Name you can trust
- . Interest Rate per Annum
- . Online Bank Account Facility
- . Client/Customer Service
- . Quality and Speed of Transactions
- . Locations of ATM and Branch
- . Rewards and other prizes
In the Philippines, I gather some data from the selected three banks online. Opening a personal bank account with their Interest rates per annum as of August 06,2011 and a gentle initial deposit ranging from P0.00-P15,000.00 only.
| ACCOUNT | INITIAL DEPOSIT | MAINTAINING BALANCE | INTEREST P.A |
| MBTC Passbook Savings | P 10,000.00 | P 10,000.00 | 0.500% |
| MBTC ATM eTeller Savings | P 2,000.00 | P 2,000.00 | 0.500% |
| MBTC MetroChecking Extra | P 15,000.00 | P 15,000.00 | 0.500% |
| MBTC Fun Savers Club(For Kids) | P 500.00 | P 500.00 | 0.500% |
| BPI Jump Start Savings (For Kids) | P 500.00 | P 1,000.00 | 0.500% |
| BPI Express Teller Savings | P 500.00 | P 3,000.00 | 0.500% |
| BPI Passbook Savings | P 10,000.00 | P 10,000.00 | 0.500% |
| BPI Ka-Negosyo CA | P 10,000.00 | P 10,000.00 | 0.500% |
| BPI-FS Jumpstart Savings (For Kids) | P 500.00 | P 500.00 | 0.625% |
| BPI-FS Express Teller Savings | P 500.00 | P 1,000.00 | 0.625% |
| BPI-FS SA w/ Life Insurance-ATM | P 5,000.00 | P 5,000.00 | 0.750% |
| BPI-FS Passbook Savings | P 10,000.00 | P 10,000.00 | 0.625% |
| BPI-FS Ka-Negosyo CA | P 10,000.00 | P 10,000.00 | 0.625% |
| BPI-DSB BPInoy Savings | P 0.00 | P 0.00 | 1.375% |
| BPI-DSB Express Teller Savings | P 500.00 | P 500.00 | 1.375% |
| BDO Smart Checking-Personal | P 15,000.00 | P 15,000.00 | 0.500% |
| BDO Peso Passbook SA | P 5,000.00 | P 5,000.00 | 0.500% |
| BDO Peso ATM | P 2,000.00 | P 2,000.00 | 0.500% |
| BDO Peso SA Payroll | P 100.00 | P 0.00 | 0.500% |
| BDO Junior Savers Club | P 500.00 | P 100.00 | 0.500% |
| BDO Power Teens Club | P 2,000.00 | P 2,000.00 | 0.500% |
| BDO Club 60 Peso | P 5,000.00 | P 5,000.00 | 0.500% |
| BDO Kabayan SA | P 50.00 | P 0.00 | 0.500% |
BPI Bank of Philippine Islands
BPI-FS BPI Family Bank
BPI-DSB BPI Direct Savings Bank
MBTC Metrobank
BDO Banco De Oro
Interest Rates stated above shall based on the bank's required balance to earn an interest. Please check banks online or go to your nearest banks stated above for more accurate information.
Hope I give you an idea on how will you select your personal bank account. Please stay tract for the next ideas on how will you managed your personal cash-flow. Stay tune! and don't forget to like us in Facebook.
Thanks and be Savy!
No comments:
Post a Comment