The pandemic has torpedoed many investment plans. Entrepreneurs are putting off investing capital for calmer times, and now they want to secure company assets. A bank deposit is becoming less and less profitable due to low interest rates. A high level of security, and at the same time quick access to cash, is provided by safes. Is it worth placing cash in them?
The freezing of the Polish economy has caused problems for many companies. Instead of offering various services or products, it has become necessary to temporarily close down operations or significantly restrict their functioning. Estimation of losses continues all the time, and many industries are still in limbo. However, the current reality is still many unknowns. Particularly as various scenarios are outlined for the development and disappearance of the virus, and these involve significantly worse conditions for investment. Many entrepreneurs are postponing investments for the future and focusing on securing their company's assets.
Bank deposits
Undoubtedly, a term deposit is still one of the most popular ways to invest capital. The market offers a wide choice in this respect. Some entrepreneurs choose short-term deposits, others – decide on long-term ones. Regardless of the form chosen, it is a simple capital investment. However, some analysts stressed even before the pandemic that this form of saving is becoming less and less profitable. Why? Because in many cases inflation has caused real returns to fall. The interest rates offered were relatively low anyway, and in recent weeks banks have lowered them even further.
Moreover, entrepreneurs may urgently need the funds they have put on deposit. In such a situation, the only thing left to do is to break the deposit, which means returning only the deposited capital, without any interest. So it does not matter whether the customer has been saving in this way for a few days or even more than a year.
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You can protect your assets differently
The coronavirus pandemic caused Poles to rush en masse to banks and ATMs to withdraw money in March. They did so because they feared problems with access to cash. Keeping savings with them was supposed to give comfort and a sense of security. However, the proverbial sock is far from an optimal solution. In such circumstances, safes are the perfect solution. This applies to both private and office spaces.
Manufacturers take into account the needs of all customers, including entrepreneurs from various industries. An office safe may be used for storing items characteristic for the activity of a given economic sector (e.g. hazardous substances, jewellery, keys). It can be used to secure memory media (e.g. external disks, memory cards or DVDs) or adapted to the needs of companies that need to store documents, valuables, securities or cash.
Easy access to accumulated funds
If you have a safe, you can withdraw your funds from it at any time. Then you do not have to worry about top-down restrictions or limits on ATM withdrawals imposed by the bank. Banks will pay out certain sums of money right away, e.g. up to PLN 20,000. However, in the case of larger sums, the transaction must first be reported. Sometimes the waiting time for the withdrawal to be ready can be as long as several days.
If you want to withdraw cash from a bank, you also have to take into account the limitations related to the functioning of its branches. After all, branches do not operate 24 hours a day and only some of them are open on Saturdays. Moreover, in the era of the pandemic, banks have changed their rules on accepting customers. They have started encouraging people to do a lot of business through online and mobile banking. All the restrictions on withdrawing large sums in cash disappear when it comes to having your own safe.
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