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Large wire transfer bank of america2/19/2024 ![]() I'd see banks like them broken up in a heartbeat. I hate that they think they are above repercussions for their actions. I hate that they scam vulnerable populations. I don't use banks like BOA and Fargo because they have the most money but are the most greedy. We definitely aren't financially illiterate, though we have a few things I'm still trying to fine tune and understand more in depth. We bank with a local bank that reimburses ATM use nationally, save with Ally and have done our best to maximize cash back credit cards. My husband and I have zero debt, not even a car loan though we have two cars, and we save about a quarter of our earnings, max our IRAs, while living comfortably. when it's really idiot consumers digging their own holes and complaining when they get stuck in them. It's not hard, but careless morons like you love to cry that big banks are bad. I'm just someone who's responsible enough to use big banks without losing money to completely avoidable fees. Personally, I don't give a shit and just want my business done correctly and efficiently, but whatever floats your boat.Īre you that oblivious or are you a banking Stockholm case? They offer good perks because they need to in order to survive if they didn't, people would just go to more convenient banks.Īnd that's great if you care about them knowing your name. They use your money and make more money just like any other bank. They most certainly are not "paying you" to have an account with them. They are paying me to have an account with them. They also reimburse all ATM use nationally up to six times a month. My small local bank offers no fees, no minimums, no required monthly deposits, and they know me by name. Others waive fees to entice more customers. Some banks charge more fees because they can. Why do you think credit cards get so many perks? It's because irresponsible people make money for the banks by going in debt and paying interest.Īll banks make money the same way: interest on loans, interchange fees and service fees. That's how the financial industry works, yes. ![]() Because they are a business and they need to make money that way. Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit.īased on what you just said, you're getting your free checking on the backs of the poor pleebs paying the fees. Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash.Private communication is not safe on Reddit. Scam alert: Ignore any private messages or chat requests.The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. There are no guarantees that working with an adviser will yield positive returns. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). All investing involves risk, including loss of principal. ![]() This is not an offer to buy or sell any security or interest. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. ![]() SmartAsset does not review the ongoing performance of any RIA/IAR, participate in the management of any user’s account by an RIA/IAR or provide advice regarding specific investments. SmartAsset’s services are limited to referring users to third party registered investment advisers and/or investment adviser representatives (“RIA/IARs”) that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. Securities and Exchange Commission as an investment adviser. ![]() SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. ![]()
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