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Are banks really trustworthy?

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    Are banks really trustworthy?

    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?
    Starts
    13-04-2019
    Ends
    13-04-2019

    #2
    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.

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      #3
      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.

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        #4
        Originally posted by Corzhens View Post
        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.

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