I just opened my 5th bank account recently haha. This time is Standard Chartered Bank XtraSaver. This account is good because you can start up without any min deposit, that means $0. Some good features:
My first cheque book haha.
Still remember why i opened so many different bank accounts instead of putting all my $ into one bank? I don't know if you still remember my previous post. Let's recap:
Pros?
- Get Cash easily at the nearest ATM. Having accounts with all the banks means i do not have to hunt high and low for specific bank.
- Bank in money or your salary cheque to a bank that is conveniently located nearby to you.
- Enjoy the shopping/dining/clubs privileges tied up with the different banks. Take note of the annual fee of the debit/credit cards though. Some cards are free.
- Don't worry about the bank annual interest, its negligible. All the banks offer 0.1% to 0.125% interest, it doesn't matter which bank you put, you will get roughly the same interest (few dollars per year.)
- Having spread out my money, they all seems very small amount. This makes me think that i do not have a lot of money to spend hehe.
- Reversible. If you regret, you can always terminate the secondary accounts and get back your money. So whats the worry?
Cons?
NONE.
More details of Standard Chartered Xtrasaver can be found here. |
