Are banks really trustworthy?

Martinsx

Active member
Banks are financial institutions that helps individuals and businesses save money, make investment and acquire loans. There are different types of bank accounts owned by bank customers such as savings, current and fixed deposits accounts.

But what bothers me when it comes operating a savings account in some banks is that instead of getting an interest for saving money on saving accounts, you will end up losing money with all sorts of charges from ATM, VAT, SMS etc.

What's your opinion about this case with most banks?
 

Corzhens

Member
I work in a bank so my opinion is on the side of banks. Of course, you can trust banks because tbey are legal business and operation. Banks earn from the money entrusted to them that they loan to people. The banks also earn from the services like trust accounts and currency exchanges.
 

Jelineex

Active member
I think bank is one of the safest way to save any monetary value. You are always protected with the banking laws and insurances. Penalty or charges on any bank transaction is a normal practice. It is a bank's way of earning revenue to maintain their services/expenses. Without it no institution will survive. I understand that sometimes we complain nor dislike the rules but we need to abide with it. It's created and formulated for the fairness of both parties ( Client and Bank ). It's like saying invest at your risk.
 

Martinsx

Active member
I work in a bank so my opinion is on the side of banks. Of course, you can trust banks because tbey are legal business and operation. Banks earn from the money entrusted to them that they loan to people. The banks also earn from the services like trust accounts and currency exchanges.

Banks indeed helps one to save money, get loans to make huge business investments but with the rate of charges they extort from their customers is really worrying. Maybe such charges are not too much overseas but here in my country, almost every customers are pissed off about it but there is absolutely nothing one can do about it.
 
Yes, banks are trustworthy. they help us in saving money, get finance like loans and we can also get interest when we save the money in bank. But when you are trying to invest money without any knowledge then dont go for new private banks that dont have any good name in the society. All most all the banks are trustable.
 
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