Savings Trends Shift to Digital Banks, Having Multiple Accounts No Longer Relevant

JAKARTA, KOMPAS.com - Dian still remembers when she had to have multiple bank accounts to manage her family’s finances. One account was used to receive her salary, another for household needs, while her children’s savings and investments were separated into different bank accounts. “In the past, I had quite a few accounts, but honestly, many ended up unused and just piled up,” said Dian (35 years old), a housewife and private sector employee, to Kompas.com some time ago. With the digital pocket feature, Dian admits she no longer needs multiple accounts to separate her various expense categories. “It’s considerably reduced. Now, one app is enough, but I can still separate the money according to needs,” she said. The phenomenon experienced by Dian is becoming more common as digital banking services develop in Indonesia. Having multiple accounts at different banks is no longer relevant. Society is gradually no longer viewing bank accounts merely as places to store money, but also as tools to manage daily cash flow. President of the International Association of Registered Financial Consultants (IARFC) Indonesia, Aidil Akbar, assesses that the digital pocket feature helps people create budgets without having to open multiple accounts. He states that the feature is not entirely new. The concept of digitally separating money was first introduced by several digital banks a few years ago and has started to be used by people who want to be more disciplined in managing their finances. “Indeed, digital pockets can help people with budgeting. I know some people I know who use or utilise that feature, especially for those who have difficulty managing finances or are lazy to do budgeting on paper. So, those pockets can be used, whether for saving or for investment, it’s useful for them,” Aidil explained to Kompas.com on Monday (4/5/2026). “But if the service or product is available, it’s very helpful. So, no need to bother opening accounts elsewhere,” he added.