Experts Warn Against Hoarding Cash, Check Minimum Balance Rules
Most people keep their money in bank accounts. Placing money in a bank remains the primary choice for many due to its liquid and easily accessible nature. However, hoarding too much cash in a single place can be risky, such as the potential for fraud or transaction errors. Furthermore, the value of that money is also threatened by erosion from inflation if it is simply left idle over the long term without being allocated to other instruments.
According to financial planners, it is generally advisable that funds stored in a current account are sufficient only to meet needs or pay bills for one month. “Savings accounts often do not have the same protections as credit cards,” meaning that “funds can be more difficult to recover” if your card is compromised, said Jessica Goedtel, a certified financial planner in Pennsylvania. Therefore, hoarding large amounts of cash in an account is not a wise move. In fact, according to Gregory Guenther, one should only keep enough funds for one to two weeks of needs in the account, while the remainder can be allocated to more productive instruments.
“If it is too little, you will feel anxious about every swipe; but if it is too much, you will miss out on growth in accounts with higher yields. The sweet spot is personal, but it will allow you to live without having to double-check your balance before buying groceries,” Gregory stressed. Additionally, it is important to remember that keeping money in an account for daily needs is different from an emergency fund. Emergency savings are intended for large, unexpected expenses, such as medical bills or job loss. Financial planners typically advise setting aside emergency savings equivalent to three to six months of expenses in a separate, easily accessible place, such as a high-interest savings account. This ensures the money is available whenever you need it and without risk.
It is also important for the public who wish to open an account specifically for emergency funds to be aware of the minimum balance rules. Customers need to know the minimum balance provisions that apply to each savings product. If the account balance drops to a certain limit, customers risk experiencing transaction issues or having the account become inactive according to the bank’s terms. Each bank sets different minimum balance limits, depending on the type of savings and the targeted customer segment. Therefore, it is crucial for customers to ensure that the funds in the account remain above the minimum limit so that banking services can be used normally.
Here are the minimum balance rules for Bank Mandiri, BRI, and BNI as of July 2026:
- Bank Mandiri
Mandiri Tabungan Rupiah: Rp100,000
Mandiri Tabungan Now: Rp25,000
Mandiri Tabungan Payroll: Rp10,000
Mandiri TabunganKu: Rp20,000
Mandiri SiMakmur - Laku Pandai: Free of charge
- BRI
BRI BritAma: Rp50,000
BRI Simpedes: Rp25,000
BRI Junio: Rp20,000
BRI BritAma Bisnis: Rp50,000
BRI SimPel: Rp5,000
BRI TabunganKu: Rp20,000
- BNI
BNI Taplus: Rp150,000
BNI Taplus Muda: No minimum balance
BNI Taplus Anak: According to the applicable agreement
BNI Taplus Bisnis: Starting from Rp0 for individuals, and Rp1,000,000 for non-individuals
BNI Tapenas: Rp100,000
BNI TabunganKu: Rp20,000