7 Reasons Why You Need to Open a Bank Account?

7 Reasons Why You Need to Open a Bank Account?

So, why do you need a bank account? Simple, because opening one is the first step to starting your financial journey. 

A bank account is a financial tool where you can store your money. Whether or not you want to open one for your goals, businesses, or expenses, this allows you to grow and explore life at another level. There are different types of bank accounts available, and with the rise of digital banking, it’s so much more convenient to open a bank account for the first time.

No matter which stage you are at in life, you can open a bank account to be financially savvy and meet your money goals. You can maximize the power of a bank account and access new opportunities in saving and growing your money. 

Here are seven reasons that validate why opening a bank account makes absolute sense today:

Manage Your Finances

One of the main reasons people open bank accounts is because it allows them to manage their finances better. 

In today’s day and age, most banks have a banking app that allows their customers to quickly access their accounts, check their balances, and view transactions. Transactions are posted in real-time, so you can keep a close eye on the ins and outs of your money.

If there are any fraudulent activities, you can also check to see that through your banking app and flag it, giving you complete control over the safety of your bank account.

Keep Your Money Safe

In the Philippines, it’s normal to carry money around because we’re not fully cash-free yet. Aside from this, some people have been victims of eating through a meal just to find out that their banking app is down. Some stores and transportation modes like jeeps and tricycles don’t have an online bank. So, it’s essential that Filipinos always have cash on them.

However, one thing that you should avoid is storing large amounts of cash in your home or on your person. Why? Floods, fires, and theft can happen at any time. These disasters can never be predicted, that’s why securing your assets is one of the best things you can do to prepare for calamities like these. 

Opening a bank account can protect your money from these types of events. If you store your money in a savings account, it will also be insured by the Philippine Deposit Insurance Corporation (PDIC) for up to Php 500,000.

Easy Access to Your Money

If you keep your money deposited in a bank account, you can use your bank’s digital app to perform your financial transactions from anywhere. It also gives you the benefit of withdrawing cash from any nearby ATM you see. 

With a bank account, you get easy access to your money, and it’s stored in a safe place too.

Security Features

As the world continues to embrace digital, the number of phishing attempts and cybercrime has increased. This is why each person must be vigilant in choosing a bank. Each financial institution has its own security systems in place to protect its clients from cybersecurity threats. 

Banks invest in multiple layers of security and they also send frequent reminders to their clients about how to avoid these threats. 

Access to Financial Services

Opening a bank account provides you with the unique opportunity to develop a relationship with the financial institution. This can give you access to other financial instruments such as loans, credit cards, and financial wealth managers.

Choosing the right bank for you is essential to your financial goals. After all, as you go through different life stages and money goals, you’ll need different services to fulfill these. 

If your bank has the right products and services, you can enjoy the convenience of monitoring your financial goals and assets in just one platform.

Make Your Money Work for You

With a bank account, you can make your money work for you. This is because opening an account with a bank and meeting their required minimum balance can allow your money to earn interest. Now, that’s a great way to earn money without lifting a finger.


With all the features that banks and online banking apps offer, it’s much easier for you to accomplish the things you need to do. When you open a bank account online with a digital bank, you gain access to their financial services from the comfort of your home. It also eliminates the hassles of waiting in line at the bank, giving you more time to do the things you love.

Opening an RCBC Account Online

As you can see, opening a bank account can make your financial journey much easier. It gives you the opportunity to maximize the financial tools available to you as you navigate your life. All that’s left is finding the right partner for this journey.

Here at RCBC, we provide our clients with a convenient, reliable, and safe banking experience. Our digital banking app is one of the best in the country, guaranteeing a smooth transaction for any of your financial needs.

Open a bank account with us today and experience better banking!