🏦 Guide to BANK ACCOUNTS for BEGINNERS (what, why, how) | Finance from Scratch 💰

Welcome back to an episode of Finance from Scratch — where we learn finance concepts, from scratch. In this video, we’ll be talking all about BANK ACCOUNTS 🏦

📌 Learn more about Chinabank’s new MyCBC app
‣ App Store: https://apps.apple.com/ph/app/chinabank-my-cbc/id6465135914
‣ Playstore: https://play.google.com/store/apps/details?id=ph.chinabank.digital&pcampaignid=web_share

We’re going back to the basics! Getting a bank account is usually the very first step in everyone’s personal finance journey. When you’re just starting out with managing your finances, these could get pretty overwhelming at because of the many options available 😵‍💫

This is a beginner’s guide to bank accounts! This video will tell you everything you need to know about bank accounts, as well as the common bank terms and tools, so that you can confidently walk into a bank and open your first (or additional) bank account like a boss! 😎💵

We’ll be talking about a lot of things: First, we’ll define WHAT banks and bank accounts are, then we’ll talk about one of the main reasons WHY you need a bank account, then we’ll talk about HOW to open your first bank account!

🤔 About the Sponsor
Chinabank is a universal bank in the Philippines with over 100 years of banking experience and history. They offer a full range of banking products and services (i.e. savings, investments, cards, loans, insurance). They recently (re)launched their mobile banking app: MyCBC. They unveiled a lot of new features! Some exciting features to look forward to: View eStatements (account, UITF, credit cards), Transfer Money (via Instapay or PESONet & QR Payments), Pay Bills (more than 1,000 billers available), Mobile Check Deposit, and more!

📚 Additional Resources
‣ BSP Regulations on Banks: https://www.bsp.gov.ph/Pages/Regulations/GuidelinesOnTheEstablishmentOfBanks/GuidelinesOnTtheEstablishmentOfBanks.aspx
‣ A Guide to PH Bank Charters: http://asianbanks.net/HTML/Countries/PH/PHcharters.htm

This is Finance from Scratch: a new series where we’ll talk and learn about finance concepts from scratch! Guaranteed — Beginner bobo friendly 👌✨

We’ll cover the stuff I talked about more in-depth in future videos. Share your thoughts, comments, and feedback in the comments section!! What do you think of this new series? What other topics do you want me to cover?

💰 Previous episode https://youtu.be/L3tcV7aOx5A
🤑 Guide to SAVINGS for beginners: https://youtu.be/_jrUzpd-WPg

If you want to work with me, help me, or collaborate with me in making this series the best it can be, reach out to me through email! I’d love to explore potential ways we can work together 🍞

📩 Email: alba.nicoleee@gmail.com

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Note: The section above contains affiliate codes/links, which means I may get a reward when you use them. Don’t worry, there’s no additional cost to you, but these help support the channel. So, thanks in advance 💙

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🕰TIMESTAMPS:
00:00 Introduction
00:51 Video Outline (what, why, how) + Chinabank’s new MyCBC App!
02:04 WHAT are banks? WHAT is a bank account?
02:43 WHAT: Basic bank terms
05:33 WHAT: Types of banks in the PH
06:18 WHAT: 3 types of bank accounts – Savings, Checking, Time Deposit
09:50 WHY do I need a bank account?
10:37 WHY open a “regular” bank account vs. digital bank account
13:10 HOW do you open a bank account? (requirements)
13:40 HOW do you choose a bank? (+ Chinabank’s MyCBC App Walkthrough)
16:07 HOW many bank accounts do I need?
16:37 What do you think of this series? Comment thoughts & future topic requests!

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🤝 Where to find me
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Email: alba.nicoleee@gmail.com

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🏦 Guide to BANK ACCOUNTS for BEGINNERS (what, why, how) | Finance from Scratch 💰

Learn Personal Finance for Beginners / Personal Finance Philippines / How to Personal Finance / Step-by-Step Personal Finance / Financial Literacy / Financial Education / Easy Guide to Personal Finance / Filipino Guide to Investments 101 / Bank Accounts 101 / Personal Finance 101

FTC: This video is sponsored by Chinabank

Disclaimer: This video is NOT financial advice. Form your own opinions so that you can properly decide on what to do with the information you learn from this video.

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