How to have financial inclusion without a bank account

There are new financial services that have less stringent requirements for opening an account than with a banking institution. There are many who wish to have a bank account for financial inclusion. There are those who want to use advanced payment systems. When before, we had no other choice but to open a bank account, we now have more options for financial services, some of which provide us with a way to save money.


Financial inclusion

To have financial inclusion is necessary nowadays as there is often a need to make an online payment. Several e-commerce sites and apps do not accept cash payments. Most of the time, opening up a savings account for you to be able to put aside your hard-earned cash can be a bit tricky. You may not have all the required documents to present to start creating the account or simply because you don’t have the right amount of cash on hand to cover the amount needed for the maintaining balance. Whatever may be the case, not having a bank account shouldn’t hinder you from being able to start setting aside some of your funds every payday. You can start saving up by turning your cash into digitized money and storing it in an online payment account.

Use a prepaid debit card

When you get a prepaid debit card, it comes with its own unique bank account number attached to it. This means that you can simply transfer or deposit the amount you want to put away directly into the card. Once you so, it is only a matter of not using it and keeping it active until you reach your savings amount goal.

Using an online payment service

These payment providers work pretty much the same as a bank account without as much red tape to get through. Online payment services are usually used as a means to transfer funds and to pay for things like when you purchase for an e-commerce site. However, there is no reason why you can’t simply store your money using the same account. The only downside here is that it is up to you to keep track of your funds and transactions so that you won’t accidentally spend the money you trying to set aside.


The USD amount of a single Bitcoin is much more valuable than any government-backed currency. The financial experts go so far as to say that investing in Bitcoin is as good as buying gold since it is unlikely to depreciate as fast as currencies or even big collaterals like houses or a car. You don’t have to buy a whole Bitcoin in one go. You can use the money you’re planning to save up to purchase bit by bit. The main advantage of saving in this way is that you also use the money you keep as an investment for larger gain in the future since it is projected that the cost of a Bitcoin will be getting steadily higher as time goes by.