Are Fees Too High?
Banks, their owners, shareholders also have to eat, of course, have to make incomes. They are making it often with fees because the other common, traditional way – margins between interests of bank deposits and credits – is almost impossible. (Zero or negative interests here in Europe.)
And this is important for all of us. Think about it: most people are receiving their wage directly to their bank account. Some thousandths (0.1 percents) can be a lot of money in the long term. Billions and billions on national level.
O. K., let’s suppose financial services aren’t free, providers have to eat, some costs are to be paid. But, how much do you consider reasonable per transaction? (External interbank transfer, internal transfer from one account to other, cash withdrawal, etc.) How much is fair?
(Picture: Pixabay.com)
- 0 only (why?)
- 0-0.1 percent
- 0.1-0.3 percent
- 0.3.0.5 percent
- 0.5-1.0 percent
- 1.0-2.0 percent
- I don’t know because I have no account
- Other (please, comment)
Answer the question at dpoll.xyz.
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Because I'm not willing to pay for their mismanaged cost/income ratio.
And now let's address the fact that I'm lending them money. Can we talk about my interest?
Talk about this with Mario Draghi :)
Do you prefer interests, or employment and growth? (GDP growth.)
I'd much rather talk to the dudes at Deutsche. At least they got the message - finally. Let's see if they execute on it.
Just for funsies: check out the risk weighted assets their i-bank consumes and the return that generates.
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There was a time banks did the job. Now I do. For that I need to buy a device, have internet, invest my time and energy plus I pay a monthly fee for doing it myself.
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Why?
Because banks are already taking a lot of money from their users.
Monthly bank account maintenance fee, yearly credit card fee, and so on.
Depending on the banks and on their services, some banks are taking fees even on deposits and on withdrawals.
I think that the transfers (especially transfers between the same bank) should not have any fees.
Just like on the Steem blockchain. There are no transaction fees.
You can send as low as 0.001 Steem or $0.001 SBD to other Steem accounts.
I understand that the banks, their owners, shareholders also have to eat, of course, have to make incomes, but look around. They are millionaires/billionaires - mostly because of the above mentioned money cut, plus they are providing money lending services (usually with huge interest rates and fees) -, while most of the bank account owners are poor.
The rich gets richer, while the poor gets poorer.
There are a few millionaire/billionaire people, but many people are poor.
Some (many) people are literally starving.
There should be some (better) balance in my opinion.
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I haven't used a bank for the past two years. I've been dealing with crypto and digital money provided by my ISP.
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Yes ... Fees are way to high.... better to do nothing. Except maybe trade Litecoin for Silver and Gold over on SilverGoldBull.com
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They print the money and give it to their friends. Also they fractionally reserve money and lend out what they do not have.
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