The wealthy banks
Banks have provided services to their clients. When we learn about the profits of the banks and the dividends they provide their shareholders we realize that someone is paying for services that generate the profits. If the profits are high, the question is why so high? Are the services too expensive?
It is my belief that we need banks and, of course, the banks need us, their customers or "clients" who purchase the services that they provide.
I remember the days when some of us received a pay envelope with our wages within or we received pay cheques. Those of us with cash would either hold onto the cash for spending and if their were surplus monies these could be deposited in banks or stored "under the mattress" of wherever; those who received cheques would go to the banks for the cash and do exactly like the envelope pay people would do.
Today, we live in a "better" world where wages and salaries are often deposited to banks to which we would not need to visit. With the proliferation of bank machines, withdraws can be made 24/7, (24 hours per day, 7 days per week). Now what I like about all of this is that by using my computer today, I can perform all sorts of fancy activities and money transaction from the comfort of my home. In fact, the use of cheques to pay bills is almost "history".
Now, regular monthly bills can be paid automatically from one's account. One can transfer monies among accounts and obtain the status of all one's accounts, up-to-the-minute. If the bank holds one's mortgage, account details can be obtained by simply pressing a key on the keyboard. How fast, how wonderful! And for such activities as investing or borrowing and for other services, all are at one's finger tips. How marvelous!
Yes, the banks are there for our use. At the same time, we, the clients should never be financial abused by excessive fee charges. We need to read the fine print on all contracts, be they for financial services of for any goods or services that require contractual obligations.
A final word, whenever in doubt, consult.
It is my belief that we need banks and, of course, the banks need us, their customers or "clients" who purchase the services that they provide.
I remember the days when some of us received a pay envelope with our wages within or we received pay cheques. Those of us with cash would either hold onto the cash for spending and if their were surplus monies these could be deposited in banks or stored "under the mattress" of wherever; those who received cheques would go to the banks for the cash and do exactly like the envelope pay people would do.
Today, we live in a "better" world where wages and salaries are often deposited to banks to which we would not need to visit. With the proliferation of bank machines, withdraws can be made 24/7, (24 hours per day, 7 days per week). Now what I like about all of this is that by using my computer today, I can perform all sorts of fancy activities and money transaction from the comfort of my home. In fact, the use of cheques to pay bills is almost "history".
Now, regular monthly bills can be paid automatically from one's account. One can transfer monies among accounts and obtain the status of all one's accounts, up-to-the-minute. If the bank holds one's mortgage, account details can be obtained by simply pressing a key on the keyboard. How fast, how wonderful! And for such activities as investing or borrowing and for other services, all are at one's finger tips. How marvelous!
Yes, the banks are there for our use. At the same time, we, the clients should never be financial abused by excessive fee charges. We need to read the fine print on all contracts, be they for financial services of for any goods or services that require contractual obligations.
A final word, whenever in doubt, consult.
posted by croweagle at
9:25 PM
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