Don't you just love banks?
Savings account: This is primarily made to save money on teh side - in fact you will earn a bit of money. The downside of this is that you can't use this money for anything like a check. That's what the checking account (which gives no interest at all) is for.
However I love how the savings account have absolutely junk interest rates - it's a "high" interest rate when you get 0.75% interest.
Note that when you take out a loan... you're expected to pay interest rates back at 10%, and that's actually a LOW interest rate.
Gotta love banking logic, huh?
However I love how the savings account have absolutely junk interest rates - it's a "high" interest rate when you get 0.75% interest.
Note that when you take out a loan... you're expected to pay interest rates back at 10%, and that's actually a LOW interest rate.
Gotta love banking logic, huh?
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If you're paying 10% on a loan, you're doing something VERY wrong.
I actually applied for a loan... and was told that my credit rating was too high.
Seriously who thought that'd happen?
Seriously who thought that'd happen?
That's why I use a savings account at a credit union.
That's why you should use a Credit Union instead.
Don't forget the fees for every fucking thing! My bank actually started charging a fee if you don't deposit enough money each month. How the fuck does that make any sense? You're not making enough money, so we're going to take more money from you!
Thats really stupid >:T they should get sued.
Indeed.
Eh, they're a business trying to make money.
I game them, though. You know those "get $100 when you open a checking account?" offers you get in the mail? I cash in on them every fucking time. Most of them have minor strings attached (IE direct deposit required or use your debit card X number of times in a month), but I've learned that ACH transfers from one bank account to another count as direct deposits, and I'll use my debit card for shit like the dollar menu at Burger King. So I open a disposable PNC account, do a few ACH transfers from my Chase account, get my free money then close the PNC account 6 months later. Then the next calendar year, like clockwork, PNC sends me another free money offer. My credit report is a clusterfuck to read through, but it's worth it for the free cash.
I think I've made $1.000 off banks and these free money offers over the past 2-3 years or so.
I game them, though. You know those "get $100 when you open a checking account?" offers you get in the mail? I cash in on them every fucking time. Most of them have minor strings attached (IE direct deposit required or use your debit card X number of times in a month), but I've learned that ACH transfers from one bank account to another count as direct deposits, and I'll use my debit card for shit like the dollar menu at Burger King. So I open a disposable PNC account, do a few ACH transfers from my Chase account, get my free money then close the PNC account 6 months later. Then the next calendar year, like clockwork, PNC sends me another free money offer. My credit report is a clusterfuck to read through, but it's worth it for the free cash.
I think I've made $1.000 off banks and these free money offers over the past 2-3 years or so.
Could change banks. 
Yeah, I could always change banks! Where I can get a savings account with 0.5 interest rates and 20% interest rates on any loans, and a plethora of hidden fees. ("You may only deposit this amount every month - exceed it and you have to pay fees.")
I like to think that there are some banks that are better than others, but perhaps they are all shit.
It's a company. They want to make money.
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Where is "over here"?
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That's not very specific..
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Is the Netherlands in the cool part of the EU too? 
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0.75% of intrest is just nothing 
I have a bank account at 1% of interest (which is very low) but this interest is not taxed and I can take the money from the account without any kind of penalty 
I have a bank account at 1% of interest (which is very low) but this interest is not taxed and I can take the money from the account without any kind of penalty 
That's why I'm with a credit union instead of a bank. Honestly, you're better off with an old-fashioned piggy bank than those money guzzlers.
i guess you could not have a bank, earn no interest, and keep all your money in the form of cash in a safe in your house.
but that's not very convenient, and you have no potential to earn any interest at all.
at least the bank isn't charging you a fee to store your money with them and to use their super convenient payment systems which allow you to buy goods from all over the globe from the very comfort of your living room.
but that's not very convenient, and you have no potential to earn any interest at all.
at least the bank isn't charging you a fee to store your money with them and to use their super convenient payment systems which allow you to buy goods from all over the globe from the very comfort of your living room.
If you have a savings account, you're not allowed to buy with it.
Similarly, you have to have a certain amount in it or else you will be charged fees.
Similarly, you have to have a certain amount in it or else you will be charged fees.
Pretty much how banks work: www.ajitsrivastava.com/blog/wp…
But instead, the customers are the ones who get the short end of the stick. Their definition: Profit.
But instead, the customers are the ones who get the short end of the stick. Their definition: Profit.