💰 Piggy bank in banking applications 💰

Probably, all banks have a service that helps to accumulate money.
As a rule, it is called "Piggy Bank". In fact, these are savings accounts with automatic replenishment, to which the bank charges a fixed percentage.
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What are the advantages❓
In the piggy bank, you can set up a fixed amount of deduction from wages (how much interest and with what frequency – once a month or every week, it's up to you), thereby closing the issue of self-discipline;
✅ Different variations of deposits: for example, rounding spending and transferring the difference to the piggy bank, weekly increasing deductions, percentage of spending, etc.;
✅ This is an excellent solution for accumulating for any short-term goal;
✅ There are no restrictions on deposits and withdrawals.
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What are the disadvantages❓
✅ Low rate on the accumulated amount;
✅ Non-fixed rate (interest conditions may change at any time);
If you save for a long-term goal, the yield on the piggy bank will not outbid inflation.
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Dear subscribers, share your opinion and experience: do you use these services, do you like this service? What are the benefits in this and is there a catch 🤔 in virtual piggy banks?
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