It provides high liquidity especially when a person needs a ready pool of money for the emergency purpose. You can deposit or withdraw your money whenever you need and also send remittances through the bank.
Download E-book to manage your bank account – Banking Awareness for beginners
Identity
It provides an identity which is recognized by various government institutions.
Transparency
The bank transactions are very transparent in nature and you can keep a track of your transactions through your Passbook.