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Today, there are several digital banks with their own characteristics and benefits, usually with more advantages than the traditional ones. Find out more about the advantages of digital banks and switch now. 

Discover the advantages of digital banking and switch now

Nowadays, with the constant growth of digital banks on the market, it's difficult to choose just one model for opening your digital account. These platforms have been making a name for themselves, mainly because of the huge advantage they have over traditional banks. 

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By understanding the benefits of digital banks and comparing them with traditional ones, most consumers end up recommending opening a digital account. This is because, as well as being less bureaucratic, all the functions are done online. 

Before opening an account with a digital bank, you need to know the best options on the market. That way, you can find an institution that meets your needs. Learn about the advantages of digital banking and switch now: 

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1. No fees charged

Digital banks don't have physical branches and, because of this, most don't charge maintenance fees or common services that traditional banks charge. However, when they do, the prices are low. 

Although they don't charge any account maintenance fees, digital banks still provide a good structure for their customers. In other words, users have access to common digital banking services without having to pay for them. 

Most digital banks don't charge fees for transfers, issuing slips or bank deposits. In addition, there are some companies that don't charge for withdrawals, but this is an advantage that should be evaluated before opening the account. 

2. Simple account opening

First of all, if you've ever tried to open an account with a traditional bank, you'll have noticed how bureaucratic the procedure is. Unlike these banks, digital ones have a simple and practical procedure, making life easier for customers. 

In other words, to open an account with a digital bank, customers don't have to go through complicated bureaucratic processes. What's more, once they've finished opening their account, they can access the services at any time and place. 

To open a digital account, consumers need to submit documents for analysis. In addition, in some cases, they need to submit a selfie for recognition. Normally, the validation of the documentation doesn't take long, delivering a faster response than traditional banks. 

3. Variety of services

Normally, the services available in digital accounts are the same as those available in traditional banks. However, this feature varies from institution to institution, it all depends on how it works. 

Even though the operations are similar, it is possible to point out some differences between the accounts. This is because, while the operations in digital accounts are more modern, customers need to go to a bank branch in person to access their financial data. 

In short, the services available in digital accounts also vary, but there are some that are essential for any model to work: the ability to store and move money, pay bills, send and receive money, deposit funds, and so on. 

It's worth noting that these services are offered by traditional banks, but customers need to go to physical branches to do them. On the other hand, to perform the same functions in a digital bank, simply access the platform on your device. 

4. Safe and reliable

Most people are afraid to open a digital account, as they think they are more vulnerable and less secure than traditional ones. However, financial institutions have extremely efficient security systems, reducing the risk of intrusions or cyber attacks. 

What's more, all the information made available on the banks' platforms is protected by encryption technology. This means that no one other than the customer has access to bank details. 

To improve the security of digital banks, institutions offer alternatives to prevent hacker attacks. In this way, any unauthorized access or transaction is alerted to consumers for confirmation. 

5. Fast service

One of the advantages of digital banking is the greater convenience it offers customers. After all, unlike a traditional bank, you don't have to leave your home to get expert advice. 

In addition, service is usually faster and less bureaucratic than in physical institutions, increasing the advantage over the traditional model. Service is usually provided via chat or telephone. 

Which are the main digital banks

Now that you know the advantages of digital banking, you're probably wondering which is the best choice on the market. There are several options on the market, each with its own characteristics and benefits. Check them out below:

Nubank

Nubank is one of the best-known digital banks today. Considered the largest fintech in South America, it offers customers a credit card with no annual fee. 

In addition, the digital account does not charge any maintenance fees, but after four free withdrawals during the month, you have to pay R$6.50 for each transaction. 

Inter Bank

Another extremely advantageous digital bank is Inter. This model offers account opening for individuals and companies, both free of charge, and a credit card with no annual fee. 

Unlike the previous bank, Inter does not ask for any payment for transactions made on the Banco24Horas networks and transactions via TEDs are unlimited. 

Next 

Banco Next is another digital model designed to appeal to young people. This institution offers network support at Bradesco and Banco24Horas ATMs. 

In addition to the possibility of opening a free digital 100% account, consumers have access to the institution's no-annuity credit card. 

It's worth noting that other Next services are free, such as TED and DOC transfers, which are unlimited. Another advantage of the bank is its cashback program. 

Is it worth opening a digital bank account?

In principle, digital bank accounts are recommended for their low bureaucracy, as well as the wide variety of functions and services available in the palm of your hand. 

However, before opening an account with any financial institution, it's worth finding out about all the benefits and features of banks. 

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