There are 3 reasons why a student should have a bank account!

When you become a student, you start making the first decisions about your new life, you become more independent, and you also start to understand what is the easiest way to get what you want. You have to make your own decisions regarding management of your personal finances, the time you need to study or spend with your friends.  

Considering all the existing freedoms, why not have financial freedom? You squander your income, so you need to manage it carefully. And for this, you need a bank account.

1. A bank account, e.g. at Credins bank, enables you to monitor every expense and through it, you can be provided with more banking products and services, making your day easier. You can also check at any time your account balance, your monthly expenses and you can receive instant transfers in your account.  

2. Online banking applications, e.g. Credins Online, linked to your bank account, allow you to make instant and direct payments, 24/7, for the utility bills, telephone replenishments, internet, or tuition fee. At the same time, you can even benefit many other services almost without commission. You no longer need to go to the bank, because the bank comes to you, quickly and simply in a few seconds. You have more time at your disposal, which you can spend with your friends or you can use it to read.  

3. If you have a bank account, you can be provided with a student card, e.g. Prepaid Visa student card from Credins bank. You can use this card to buy online, pay at any POS with 0 commission, or withdraw at any ATM. It is much better to have in your wallet a bank card than cash.

Establish a relationship with your bank, choose to get a student package, e.g. the package offered by Credins bank, choose to have a financial partner since the beginnings of your student life and you shall see that the benefits will be immense.

Now it is up to you to choose which is the best for you.

Consumer loans? Should I apply for it?

Many of us wait for years to make true a wish or meet a need. Everyone has different plans, dreams or needs, but the opportunities to realize them are limited. Everyone who has a job, tries to save money every month to raise the amount needed to buy a car, a home appliance, a laptop, renovate the house, or pay the school tuition for the children, etc.

In many cases, we have to wait for years, as we are not always careful to save regularly. There are also cases when we have extra costs and we cannot save on a monthly basis, as expected.

Thus, we have to wait for a long time. For e.g. if we want to buy a car which costs 10,000 EUR, but we manage to save only 200 EUR per month, then, we have to wait 4 years to buy it. And this can happen only if we manage to set aside this amount on a monthly basis. But not everyone can afford it.

However, there is a solution, a fantastic opportunity offered by the banks through the product called “Consumer loan”. What is this loan? Many of you have never applied perhaps for a loan and are unaware of the opportunities or alternatives available, or do not want to have a credit relationship with the bank because want to avoid being in debt to someone.

There are 3 reasons why you should apply for a consumer loan:

• • It enables you to make true your dream/desire/need, without waiting for years. If you apply for a consumer loan at Credins bank, you can buy whatever you want today, up to the amount of 1.5 Million ALL, without waiting long. Enjoy the present, not tomorrow.

  • You can determine the amount and term of the loan, depending on the installment you want to pay per month. Neither less nor more. By assessing your monthly income and expenses and estimating how much money you can save per month, you can decide on the installment you will pay at the bank. Do not be afraid, the bank is your partner. By choosing Credins Bank, you can get useful advices and be informed on personalized options.

  • You can establish a good relationship with the bank. You shall also have a lot of benefits, if you pay regularly. Different banks, e.g. Credins bank, offer preferential packages of products and services to loyal customers, which are reviewed and improved every year, offering convenience and flexibility in the approving process.

  Do we have to wait for years? No, it is better not to miss a single day and be informed today. If you have a regular monthly income, do not hesitate. Buy whatever you wish, have fun.  

5 reasons why a business should open a bank account

To help you understand why opening a bank account is important, find below 5 of the main reasons:

·         It is now mandatory by law.

Law no. 31/2019 “On tax procedures in the Republic of Albania” provides for that natural commercial taxpayers, registered for value added tax, legal entities taxpayers, regardless of their turnover, and non-profit organizations registered with the tax authority, are obliged to have a bank account for the registered business/organization and declare it to the tax administration.

·         Helps you to view your business as a separate entity.

By opening a bank account for example at Credins Bank as a business, you will have a complete perspective on the cash flow of your business. Having a separate bank account means that all expenses and profits are transferred through this account, making it easier for you to control your finances and see exactly how much your business earns and pays for itself. In case you have several businesses the use of separate bank accounts helps you to better share and manage them. Also, a business bank account enables you to take advantage of many other products and services, by increasing the sales and efficiency of your business. If you have a business account with Credins bank, you can be provided with a debit or business credit card, you can benefit various forms of financing to cover your business needs, to transfer automatically your employee salaries, access your bank accounts through the application Credins Online, etc.

·         Establish business credibility.

When a customer receives an invoice from your business (other than your personal name), it helps develop integrity, strengthen your brand and also increases the credibility of your business. You are also more professional when provide a customer with an invoice and a bank account number in order to make the respective transfers or when you pay the supplier invoices from your account, etc. In this way you strengthen your business image.

·          Manage better your business revenues.

By organizing and separating personal finances from business finances, you will be able to better manage your cash flow and ensure that business income is not used for personal expenses. In this way you maintain the business “Financial Health” by checking daily cash inflows and outflows and making the decision-making process easier for further business investments.

·         Establish a business banking relationship.

Establishing a business relationship with the bank will become significantly important as your business grows. Having a business bank account is the first step to be financed in the future with loans in order to further expand your business, to be provided with business cards, overdrafts, payroll agreements, POS, etc. Therefore, it is important to establish a bank-client credibility relationship from which you can benefit good terms and conditions for future banking services.

Jonida Qira

4 reasons why an individual should choose a bank that offers online banking application

The time when we went to the bank branches is long foregone. Now, it is time of technology. The banks have committed to it to provide the best customer service quality. The banking industry has introduced many modern, digital applications offering a unique customer experience. Nowadays, each of us has the opportunity to access the bank 24/7, at any time and any place from any smartphone, tablet, or laptop.

Today it is no longer necessary to run to the bank branches or to the various counters to pay the bills, because many banks offer the so called online banking application, such as Credins ONLINE offered by Credins Bank. But you need to know how to choose your bank wisely, which provides to you safe, simple and attractive solutions..

The 4 main reasons why we should be clients of a bank that offers an online banking application are as follows:

1. Each of us has the opportunity to directly and in a few seconds access the personal account and see instantly the history of account movements carried out in a single day, a week, or a year. We will be able to control every expense, see where and how we spent, and take care of our personal finances.

2. We will be able to save our valuable time. The banking application, for example Credins Online, enables us to pay immediately, instantly, any bill for water and energy supplies, fines, telephone, internet, tuition fees, etc. Say goodbye to the queues, and with one click we can pay everything.

3. If we want to transfer money to friends, parents, children, or pay for the hotel, vacation, etc., the transfer is done immediately with the banking application from home, or wherever we are. All we need is the internet access and a smartphone, tablet or laptop. If you hesitate as you do not know how to use it, do not worry, as the bank makes available to you the relevant tutorial, such as Credins bank tutorials.

4. If we want to have a quiet and peaceful sleep, do not worry. A good bank will take care of you. All transactions in a banking application must be secured with a security code, which is send as a message to your mobile phone. Beware, this is not provided by all the applications. You only have to choose wisely!

Long queues in the banks? We show you how you can eliminate them

As with major technological advances, and the evolving pace of life in this millennium, the banking system is one of the first industries that should accelerate its investments in technology. Banks strive to find innovative ways to satisfy their customers in order to deliver excellent customer service by avoiding long queues at banking halls and slow turnaround. Long queues generate irritation to customers as well as to front line bank personnel. On these grounds, Credins Bank created, Credins Online, the smart phone application.

5 reasons why you should use Online Banking:

How to avoid account evacuation due to unsafe online shopping!

Insecurity is one of the 5 basic problems that people face when carrying out on-line transactions such as: purchases, sales, or payment of invoices and fees. In several cases an on-line purchase by an unsecured merchant, has resulted in other unauthorized purchases and the depletion of money in the bank account, thus leading to an odyssey series of contestations until the issues are identified. Unfortunately, the losing party is the card user

In the context of this worldwide growing phenomenon, the most appropriate solution emerged from the introduction of new security mechanisms that certify the buyer, the seller and the money transfer method. This new mechanism is the 3D SECURE security system. Fundamentally, 3D Secure standard represents an authentication process that aims at preventing fraud and abuse, providing extra security of bank cardholders, and furthermore ease the burden of cardholders who sell or purchase on-line services and products. This new feature offers enhanced security in the payment process by card where clients are alerted by a push message to verify their authenticity and after that by additional SMS/email authentication process clients receive a one-time password (OTP) on mobile and email account. Under these circumstances no one, except the card user, can authorize a purchase.

This innovation has already been introduced to Albania for FREE by Credins Bank dedicated to the bank’s clients.

7 Tips to save and keep expenses under control

Have you ever wondered about your money behaviour? Perhaps you’re a saver and you feel satisfaction every time you look at your growing account balances. Or maybe you’re an impulsive shopaholic, looking at life as something to enjoy today, so you buy on impulse and pay little attention to how you’ll survive in the future?

What does shape the way we view money? According to several studies the chemistry of the brain is crucial in our financial habits. The invariable fact is that we alone take responsibility for the present and the future of our finances. Continuously improved financial literacy and smart money management constitute mandatory components in the age of consumerism.

Some crucial advice on savings culture:  

Which bank cards are best for me?

We are often faced with the dilemma of whether to use cash or get a bank card. Moreover, which card should we choose from the variety of cards introduced over the last few years. We often hear: Credit cards, debit cards, prepaid cards, Mastercard or Visa cards. Being exposed to a variety of information, we continue to use cash for every purchase, in every store, carrying a considerable amount of cash with us, bearing the risk of loss but also poor management of expenses.

But what are the benefits of a debit card or credit card?

Everyone who has used bank cards has felt very satisfied and has even recommended them to his friends. The card provides you with the opportunity to shop online and pay at any POS at home and abroad, reducing the amount of cash to be carried in your wallet. With the card you feel safe, as you can withdraw money at any ATM, inside or outside the country.

Above all, you check at any moment the account balances for any expenses you perform, even directly, such as through Credins Online platform, without waiting in line at the bank’s counters.

Are we safe from using the card?  Read below, and we believe you will understand a lot about the security that technology offers.

Debit and credit cards  are equipped with a 4-digit PIN number which is required for cash withdrawals at ATMs and for purchases in stores through POS devices. But be careful, the PIN code is secret, and you should not share it with anyone else. If the card is lost, don’t worry. Just contact the bank and declare your lost card. The card will be instantly blocked, and you will be provided with a new card and new PIN code.

What is a debit card and how does it differ from  credit card? 

The debit card  is linked to the current account  and its use is based on the current funds that each individual has in the account. If your salary is transferred to a bank account, you do not need to withdraw your cash immediately, as we have been doing all these years. Debit card gives you the opportunity to use funds according to your needs. You can withdraw cash at any ATM of your bank 24/7. Even at the ATMs of any other bank but be aware that there is a commission in this case. Get informed about the terms and conditions that your bank provides.  

If you get a credit card, you use the bank’s money, so it’s a loan, and the credit card limit is set under a signed agreement between the bank and the client. With Mastercard or Visa credit cards that Credins Bank or other banks offer, you can accomplish your needs for shopping online or at any store around the world by paying your receipt later. Be careful, if not paid within due time, you shall pay interest. Get informed on the terms and conditions that your banks provides for credit cards before using them. What about online shopping?

What card should I use?  

If you consider to be more careful, choose a prepaid card, , where you yourself determine a spending limit for online shopping or for your vacations.  

Which card to choose?

For daily payments and monthly expenses at the supermarket or stores, experts at Credins Bank suggest that you use your debit card because it will facilitate you too keep your spending under control. For hotel payments, travel tickets, online shopping, or even if you don’t have enough funds and want to pay later, a credit card is your solution. You can even benefit from using it as the Mastercard credit card that  Credins Bank offers provides many advantages. If you are still hesitant, meet with a financial advisor at Credins Bank available to assist anyone in providing efficient solutions and best experiences.