Facebook Twitter Instagram
    Ifusi.org
    • Home
    • News
    • Business
    • Digital Marketing
    • Entertainment
    • Fashion
    • Technology
    • Travel
    Ifusi.org
    Home»Technology»Choosing Your Digital Savings Account: Best Options Compared
    Technology

    Choosing Your Digital Savings Account: Best Options Compared

    Martin GuptilBy Martin GuptilSeptember 7, 2022No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Savings accounts are basic banking products that allow you to deposit money to earn some interest in a certain time. While usually they aren’t too profitable, they are considered very safe and stable, so it’s the right kind of investment option to accumulate long-term savings. But now, many financial platforms and online banks offer their users a virtual kind of such accounts that can be managed through mobile devices. In this article, we explain how it works and help you choose the best option suitable for you.

    How digital savings work

    Virtual accounts work pretty much the same way as the offline ones. You store funds on an account in exchange for a modest amount of interest. However, digital accounts allow you to access your money anywhere you go, and you can also automate regular deposits. Online financial services usually offer higher interest rates to attract customers, but they are just as secure and reliable as traditional banks and funds. But now, you don’t even need to call your bank, just enter an app and manage your funds.

    There are also all kinds of useful features in such apps: you can track your deposits and earnings, or you can set your account to pay your bills automatically. It really makes life easier, but of course, this digital model has a couple of disadvantages: for example, depositing cash is much more difficult than with a real bank that has real ATMs everywhere. Anyway, let’s look at the most convenient and useful services that offer a digital savings account as one of their products.

    Revolut

    This popular British startup has all kinds of digital products, and its Savings Vault is a great option for storing your money. It has decent interest rates, no limits on deposits and withdrawals, and the funds are protected by FSCS. However, Revolut charges extra for ATM cash withdrawals that exceed $300 a month.

    SoFi

    Another online bank, SoFi features a high-yield savings account that can be divided into subaccounts called Vaults dedicated to certain financial goals. There’s also a mechanism that allows you to deposit small sums from every debit card operation into one of your Vaults.

    Varo

    Varo is an online banking service with an exceptional savings account. The account has high interest rates, and there are no monthly fees or unnecessary limits on deposits. Moreover, Varo accounts are insured by FDIC.

    This article was shared by Ivan Andriyenko.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Martin Guptil
    • Website

    Related Posts

    Kawaii Keyboard From Dustsilver Company

    January 30, 2023

    Swimming Pool Solar Heaters

    January 21, 2023

    How to choose a navigator for a hike by Yagupov Gennady

    January 18, 2023

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Recent Posts

    Buy A Wide Range of Hairpiece Products From Bonohair Manufacturer

    February 1, 2023

    Shirt & Tie Combinations: A Modern Man’s Guide To Getting It Right

    February 1, 2023

    Top Quality Online Casino Baccarat Slot Betting Apparatuses

    February 1, 2023
    Categories
    • All
    • App
    • Automobile
    • Automotive
    • Beauty Tips
    • Business
    • Celebrity
    • Communication
    • Diet
    • Digital Marketing
    • Drawing
    • Education
    • Entertainment
    • Exercise
    • Fashion
    • Featured
    • Finence
    • Fitness
    • Food
    • Games
    • Health
    • Home Improvement
    • Law
    • Lifestyle
    • News
    • Online Games
    • Painting
    • Pet
    • Photography
    • Product
    • Social Media
    • Sports
    • Style
    • Tech
    • Technology
    • Travel
    • Web Design
    • Website
    • Privacy Policy
    • Contact Us
    Ifusi.org © Copyright 2023, All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.

    Cleantalk Pixel