In today's society, employees in all walks of life often receive regular monthly salaries and remuneration through salary cards. However, with the increasing convenience of wireless payment methods, we have gradually become accustomed to using mainstream payment tools such as WeChat and Alipay, and many people will even transfer the balance of their cards directly to an investment account outside the bank shortly after the monthly payroll.
To some extent, importing cash into platforms such as Alipay or WeChat will undoubtedly allow consumers to stay on top of their finances more quickly, and the payment operation is also very convenient, which is in line with the consumption patterns that the younger generation is keen on. On the other hand, the high expected rate of return brought by various financial wealth management products provided by Alipay and WeChat is also deeply loved by contemporary young people.
However, many consumers may not be aware of the hidden problems behind this long-term behavior while realizing convenient payment, and some bankers even directly point out that the act of "transferring" the balance after the payment of wages is actually a certain degree of risk and adverse impact for both the bank itself and every customer who holds a salary card.
01 Why are banks worried about the user's behavior of transferring money as soon as it arrives?
In fact, in terms of profit model, the main source of income of banks comes from the interest and handling fees of savings accounts. If the balance in the payroll card gradually accumulates, then theoretically, the bank can get a higher amount of interest income from it; On the other hand, if a large number of cardholders quickly withdraw the balance in the card, it may even lead to the risk of large-scale customer churn of the bank, which will have a negative impact on the bank's customer stickiness and stability.
In the face of such a dilemma, the operating costs of banks are bound to be greatly reduced, because once the loss of customers is too much, the bank has to invest more manpower, material and financial resources in managing the assets and liabilities of customers.
02 What is the negative impact of the act of transferring wages as soon as they arrive on the payroll card holders?
If most people prefer to enjoy the speed and convenience of electronic payments, and use the way of transferring their wages to third-party settlement channels such as Alipay or WeChat, then this seemingly only for their own convenience may actually pose a greater threat to the security of their accounts.
First of all, if you have little understanding of the security mechanisms and precautions of online banking, transferring all the balance in the card to an investment account outside the bank in one go may make the account more vulnerable to hackers or telecom fraud.
Secondly, if the card is lost or stolen, the salary card without a balance is more likely to become the target of the first target.
In addition, for those whose incomes fluctuate greatly or who have to rely on credit cards to support their daily lives, transferring the full amount of their salary to a third-party payment platform at once is likely to lead to a lack of liquidity, limiting the flexibility to use credit cards in an emergency.
It is particularly noteworthy that credit card usage records, as one of the important bases for assessing personal credit status, will profoundly affect the difficulty of individuals borrowing money to buy cars and even houses in the future. Because when banks approve loans, they mainly judge the repayment ability of customers based on the details of their accounts in recent years, and if there is such a behavior of frequently withdrawing wages and transferring them out immediately in the past, it is very likely to increase the pressure to apply for car loans in the future.
03 Why are many wealthy people more inclined to choose to keep large amounts of cash in banks for interest income?
In real life, there are indeed quite a few wealthy people who are willing to put a lot of idle money in the bank in exchange for income.
One of the reasons for this is to earn more interest fees. Although the interest rate on savings deposits has generally declined in recent years, as long as the total amount of money is large enough, even if they deposit in low-interest savings plans, they can still earn a considerable return.
On this basis, the wealthy are usually under pressure to manage a large number of assets and debts, and they choose to store their funds in major banking institutions, which can not only greatly save the cost of manpower, material resources and time in financial management, but also establish a mutually beneficial partnership with the bank.
This undoubtedly shows that people have great trust and deep attachment to banks. As a result, banks are able to provide them with a wide range of high-quality financial services and resources, such as high savings, premium concierge services, and diversified investment solutions.
04 Faced with the phenomenon of transferring balances as soon as salaries arrive, how should banks deal with this challenge?
When we are faced with the phenomenon of an increasing number of people clearing their balances as soon as their wages are received, it is necessary for banks to think about how to increase the level of interest rates they offer, so as to strengthen the stickiness of customers and thus strengthen their customer base.
In addition, banks can also consider introducing more user-friendly and powerful payment tools to further simplify the operation process of transfers and cash withdrawals, improve service quality, and meet the preferences and needs of young consumers for payment methods.
All in all, for major banks, the desire for residents to transfer all their balances to other accounts after each paycheck is both a serious test and a potential for business.
In the face of this phenomenon, banks must change to always put customer needs first, increase innovation in services and products, and strive to improve customer satisfaction and loyalty to better cope with these issues.
For the majority of young people, we do not advocate that everyone rush to transfer all the balance to other places as soon as they get their salary, but in fact, they should gradually withdraw money according to their actual situation and make reasonable arrangements for use. Especially for those friends who have planned the goal plan of buying a house, buying a car or even pension, it is more necessary to accumulate a certain margin in the bank account. In the play, if all the cash is withdrawn and transferred away as soon as the salary arrives, it will inevitably make these investment goals unsustainable.
Therefore, we strongly recommend that you make a reasonable future budget and savings plan after each salary, set up an emergency reserve, use a credit card, actively practice various investment and financial strategies, and always maintain a high level of attention and attention to the security of your bank account, so that we can plan and manage our salary income more comprehensively and carefully, and continue to pursue a higher quality of life.