Whether you’re into playing lottery games and you play the lottery online or if you are expecting another source of money to come into your life, one thing is clear: you’re going to need a checking account. And how! However, in a sea of prepaid debit cards and advertisements saying that you don’t need to trust a bank with your money, you might feel like it’s a great time to close out your checking account and roam free and wild, without having to think about overdrafts and other fees that the traditional banks are known for.
Sounds like paradise, right? Well, it does…until you realize that there are really some unsung benefits about having a bank account after all.
First and foremost, a bank account is actually the basic starting link of communication between you and the bank itself. You’re building up trust so that one day, you might be able to ask the bank for other things, like small loans and even bigger loans. You might dream about owning a car or a house, and that’s going to mean that you’ll need to think about the bigger picture. A prepaid debit card can help you control your spending if that’s what you need to focus on, but it can’t help you get into a home. It can’t help you get a loan later down the line. It doesn’t help you really build your credit directly the way a bank can.
These are just a few of the benefits that you would be giving up by only focusing on prepaid debit cards. What would your world be like if you could break out of that and think more or less about the other credit products that are needed to make your world spin? Wouldn’t you want to rest easy knowing that there’s a progression that you can take in the long run that’s going to lead to you reaching your other goals?
Banks are convenient because they usually offer more than one service. It isn’t just about putting your money in a safe place, it’s about being able to get money orders and other financial tools that you need to conduct business. It’s about cashier’s checks when you need to really make sure that the other party knows that you’re coming through with certified funds. Those are the hallmarks of banking, and you need to make sure that you have those tools in your arsenal as much as possible.
The time is right to look into getting a bank account of your own — won’t you check it out for yourself?