Using electronic banking channels can boost savings

[TeamSouthAfrica]

With July being National Savings Month in South Africa, it might be the right time to make sure you’re transacting in the most cost-effective way possible. Unnecessary fees add up, and cutting back on, or eliminating them completely can save you a stack of cash in the long-term. Luckily, there are a number of innovative digital banking channels that can help you do exactly that.

It costs a fee to withdraw cash at a branch or ATM, and you will also be charged to view your account balances and transaction history should you do so at these facilities. So, to stem the tide of wayward rands and to remove cash from your daily activities, exploit the advantages of the latest digital banking channels.

Most well-known and effective of these are online banking, cellphone banking and mobile apps.

Advantages of electronic banking:

• No subscription fees
• Bank anytime, anywhere
• Greater security – you don’t have to compromise your safety by carrying large sums of cash
• Convenience - access business and personal accounts, and insurance, wealth management and stockbroking activities in one go.

All these electronic channels are there to help you; we want to empower you to better manage your own money and so make it work even harder to build your future.

For more information on Digital Banking Channels and how they can save you money, please visit our website on Self service banking