this post was submitted on 20 Aug 2023
704 points (96.8% liked)
Asklemmy
43948 readers
496 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Bank fees
I see you have no money... I'm going to have to charge you for that
They are exceptionally shitty for cash accounts since they are absolutely using the money for their own profit.
If everyone took out all their liquid cash, the bank would crash (see; recent events.)
I don't know if it is quite as simple as that. Most recently the bank failures were because those banks got upside down on bond holdings due to rate increases. If everyone chilled out and took their money out in appropriate time, then the bank would have had all the money. They just couldn't get all the money immediately due to the duration of their bond holdings.
My bank wanted my to pay to have an account. I asked why and the answer was some bullshit about having access to their expertise on growing wealth. I told them, I would be growing wealth more quickly if I didn't have to pay monthly fees, canceled my account and took my money to a bank that doesn't charge for a basic money dump account.
It's ridiculous, banks make money by investing the trusted money of their customers. Why would I need to pay them in order to let them make money. They should pay me.
Credit unions are a much better option.
Credit unions aren't always perfect either. I switched unions because one started adding fees.