Guide on BDO Cash Card Interest – Will Your Money Grow?
BDO CASH CARD INTEREST – Here is a guide on whether or not the money in your cash card earns interest from the bank.
Nowadays, banks do not only offer savings and deposit accounts but as well as cash cards. Are you familiar with this card usually required for employment purposes?
The cash card is different from a deposit account. Meanwhile, it can perform several transactions like cash deposit and withdrawal. It can also be used in paying for purchases in department stores, grocery stores, and other venues accepting debit payments.
In the Philippines, one of the banks that offer a cash card is the BDO Unibank. It is one of the biggest and trusted banking firms in the country.
With regards to the the said cash card offer, you might be wondering whether or not the money kept in a cash card earns interest. It is where its difference from a deposit account takes place.
In a deposit account, your money earns an interest. However, a BDO cash card interest is not possible for the money kept inside cash card along with having no maintaining balance.
According to BDO Unibank, the cash card is also not insured under the Philippine Deposit Insurance Corporation or more commonly called as the PDIC.
Usually, the cash card is a requirement in employment as it is through it the company releases the salary of the workers. Online money transfer is available and more convenient now aside from easy record-keeping.
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