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Wallet or digital account, which one to use and why? • ENTER.CO

When it comes to financial products, there are many options. Today we are going to learn a little more about Wallets and digital accounts. You will know its main features and which one you should use.

As a direct result of the pandemic, applications have increased their downloads and uses across the board, including Wallets. In the same way, financial products diversified and thus digital accounts appeared. In general, wallets are simpler and more direct to use than digital accounts. While mobile banking has other more specialized functions. Below we will offer you a more detailed description of each of these so that you know which one best suits what you need:


Commonly known as digital wallets. Money can be stored on these platforms, either money such as Colombian pesos or in some cases digital currencies can be stored. Wallets allow you to store money and make transactions without having an associated bank account. It is important that whatever Wallet you choose, it is safe, reliable and has security protocols that protect your money. Some of the operations you can do with a Wallet are: Internet purchases, QR payments, transfers, money top-ups and payment of services.

It may interest you Samsung Wallet, the virtual wallet of the Korean manufacturer

digital account

This type of financial instrument differs from Wallets because it is very similar to a traditional bank account. Except that it is processed and managed through a completely digitized mechanism such as Online Banking. The ease of contracting a digital account is its main advantage. These types of financial instruments have all the support and guarantee of traditional accounts. With them you can make transactions such as transfers, debit card payments, withdrawals at ATMs of the financial institution.

safety first

Whether it is a Wallet or a digital account, the most important thing is that you do not forget some security recommendations that will help you keep your money safe:

  • Do not share your access passwords with anyone
  • Avoid entering from unknown computers or devices
  • Keep your cell phone updated with all levels of security
  • Always use two-step authentication

Image on Unsplash

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