Benefits of Many Bank Accounts

 If you have many bank accounts in different banks, you will get lots of its benefits to business. I have two bank accounts in SBI. I have bank account in HDFC and I have bank account in Canera Bank. I have bank account in PNB. Now, I am telling its great benefits

1. Fulfill the Shortage of Working Capital for Your Business. 

Because as per rule, each bank account has to keep Rs. 2000 and in private account you have to keep Rs. 5000. Suppose, you need Rs. Rs. 25000 because you have to buy books  and you also go order online and you have to send books. So, if you have 5 govt. bank, you can arrange Rs. 10,000 and if you have 13 private banks accounts, you can arrange Rs. 15000 fastly for fulfill the shortage of your working capital. 

I added fund in one bank account from two bank accounts for emergency payment to publisher

See

2. Fast Payments with Google Pay with Other Bank If your One Bank's Internet Slow

You went to outside for shopping and you see very important product, you have tried to pay its payment by google pay, if your one bank will fail to pay through google pay due to low internet server issue, you can use second bank account which is connected to your google pay account. With this, you will not depend on one bank account. 

If your bank is short fund for your business, you can add more fund through self transfer of google pay.

3. To Track the Transaction is Easy

If you have one bank account and you have done 10000  transactions in one month, it will very difficult to track all transactions. But if you have 10 bank account and divide different transactions in 10 banks, it means, it will easy to track 1000 transaction in each bank account. If you have one account is connected auto payment of APY and second is auto connected with LIC Payment and third is connected MF Sip and fourth is connected with your DEMAT Account's Stock SIP 

4. Less ATM Withdraw Charges

If you have more than one bank account, you can decrease your ATM withdraw cost. One bank gives free for 5 transactions of withdraw on free and next charges that is called ATM Withdraw charges. You can save it.