A hassle to transfer money to a saving account

@scheng1 (24649)
Singapore
December 30, 2015 7:18am CST
I have a saving account with a credit company. That means this is not a saving account with full banking services. I cannot withdraw the money through ATM, because this credit company does not have ATM service. I cannot use online banking because this credit company does not have such services too. The saving account is really a saving account. I can save money because it is a hassle to take money out to spend. However, it is a hassle to transfer money into the saving account. The only way is by depositing cash or check during the banking hours. Fortunately this is a joint account with a relative. I can ask my relative to deposit check on my behalf.
1 person likes this
1 response
topffer
@topffer (42155)
• France
30 Dec 15
Same for me here. A saving account is definitely not a bank account, I can only deposit checks or cash on it. I keep it because it was opened by my grandfather for me at my birth, but I don't use it often.
1 person likes this
scheng1
@scheng1 (24649)
• Singapore
31 Dec 15
You are lucky to have a very wise grandfather. i think this is indeed a good way to encourage saving habit. I open it because I need to have a sum of money as emergency fund, so the credit saving account serves well for this purpose.
1 person likes this