Banking
I have to say I like the privacy of banking alone and at home. I like being able to Bank whenever I want and at whatever time I want. And best of all, I do not have to face any ridiculous staff who do not know their job well enough.
I personally believe that the interest rates on Current Accounts? should be the same as Saving Accounts. There should not be any Bank Charges? for things which are automated and do not cost the bank money. The banks make their living by utilising the money you have in their accounts. Charging you for the privilege of having your money is ridiculous.
If you kept your money at home under the mattress, there would not be any banking charges. If you spent the money and bought things which increase in value such as gold and diamonds, then you do not even pay tax on your interest! But that is another sore point and another lamentation!
You know the truth is this – in today’s world you cannot really afford to not have a bank account, so you know what they say – like it or lump it! (Though you may wish to compare banks as some offer slightly less bitter deals than others!)
Comment by Mike (3 comments.)
You’re right banks to make the money off of you and your mistakes (overdrafts). That’s what they do. Most banks are there to make profits, not help you. They have shareholders that expect to see money at the end of the year.
It’s always best to go with a Credit Union. Credit Unions are not there to make a profit, they are there to support their members. That’s why you some times get money back at the end of the year from the Credit Union. They usually divide up the money they make and return it to members as dividends.
It’s more dangerous to have your money under your mattress. You can have issues like burglary or fire, then you’re life savings is gone. Same goes for buying gold and diamonds. Diamonds on the other hand can increase in value however, it’s very hard to sell the back. Usually jewelers won’t buy them back unless you purchase into some sort of buyback/upgrade program. Most of the time you’ll have to sell at a pawn shop and receive well below the estimated value of the diamond.
I suppose we do have to deal with banks, but Credit Unions are less likely to eat you alive! lol.
Posted on April 25, 2007 at 4:57 pm
Comment by Karen (1 comments.)
Very interesting analysis! Have a great day.
Posted on April 25, 2007 at 8:58 pm