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Banks Threaten To Charge You For Saving Money

  1. Stacie L profile image88
    Stacie Lposted 3 years ago

    In an effort to protect their record profits, banks might soon charge you for the privilege of having a savings account.

    I know what you're thinking: Banks already charge customers outrageous fees for the privilege of having bank accounts. But if the Federal Reserve dares to try and help the economy by cutting a special interest rate it pays banks, fees could get even more outrageous, the Financial Times reports (subscription only). Such a move by the Fed would lose banks some easy money, and they could take the difference out of their customers' hides.
    Not only do they give almost non existent interest but now want to charge us for putting our money in the bank. They use our money to charge outrageous interest on loans.....robbers!
    http://www.huffingtonpost.com/2013/11/2 … lp00000592

    1. wilderness profile image94
      wildernessposted 3 years agoin reply to this

      Then don't use a savings account.  That's easy.

      1. Stacie L profile image88
        Stacie Lposted 3 years agoin reply to this

        Yes that's the obvious answer,but why isn't govt  intervening?
        They were bailed out and still want more from us..

        1. wilderness profile image94
          wildernessposted 3 years agoin reply to this

          Govt. does not normally interfere in business, particularly by setting pricing.  Although it is dying fast, there is still a feeling that the American citizen is capable of making decisions themselves.

          If you wish to pay a bank to hold your money for you, do so.  If not, don't put it there.

          1. GA Anderson profile image83
            GA Andersonposted 3 years agoin reply to this

            OMG! Can I believe what I read?

            Wilderness, step away from the table. Leave the bottle!

            Government does not normally interfere in business?

            Really?

            Can you name an entity that interferes more?

            Notice I did not say shape business practices - obviously the consumer does that.

            GA

            1. wilderness profile image94
              wildernessposted 3 years agoin reply to this

              Calm yourself, GA - the bottle is not empty yet.

              Perhaps that is a small overstatement, about the size of Mount Everest.  The intent was merely to point out that govt. does not normally set pricing.

  2. Zelkiiro profile image88
    Zelkiiroposted 3 years ago

    My checking account is my savings account.

    Problem, officer?

    1. wilderness profile image94
      wildernessposted 3 years agoin reply to this

      I went recently to open a new savings account and was told that there would soon be a charge for having it.  The result was a new checking account instead, just as you say.  The loss of interest is minimal anyway.

  3. Bishop55 profile image91
    Bishop55posted 3 years ago

    Join Capital One 360.  online banking, no fees!  I LOVE them!

 
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