Banks Stop Pretending to be a Public Service At Last
49I always found it chilling that people were duped into thinking that the banks were on their side, forging a relationship with their customers through good times and bad.
If you've been through bad times with your bank, you'll know that the great service provided when you had money, goes bad really quickly when you need them to have trust and faith in you and your business!
Now banks are becoming increasingly open about their intentions to target only the clients who will make them the most money.
For instance, Egg, the credit card company owned by Citibank of the US, is withdrawing the card from customers who do not use it enough or who do not pay its punishing 16.9% borrowing rate, just because these customers don't make Egg enough money.
All the banks are going to collaborate on this agenda, picking over each other's customer lists to see who will be blacklisted and who'll be sent those manipulative marketing mailshots selling them more unnecessary but highly profitable bank services.
Sounds like this process is against the law and it certainly appears to fly in the face of the Competition Act of 1998 which prohibited such anti-competitive agreements. Since most of us are held hostage to the banks, how will we find a competitive provider if they're all sharing information and selling products out of the same basket?
Banks always tried to sell the idea that they were interested in long term relationships with their clients, but the veneer of service has been dropped and we can see the greedy slavering dogs for what they really are; greedy, venal and immoral, out to make the most profit from us any way they can. If you're not contributing to their profits, get out the door.
It just may be that the greedier and more openly grasping the banks are, more people will open their eyes to the bankers scams and stop allowing the banks to manage their money. Let's hope so. And if you have a head start and are already disillusioned with banks and want to opt out of their corript system, clear your debts and make money using innovative off shore banking and investment strategies, then join us in the Ultimate Entrepreneur Club.
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cal says:
16 months ago
banks all suck you are greeaddy