Does Your Bank Treat You Fairly With Most of Their Policy?

[Austinaldo]

Owning a bank is a big venture that demands huge capital and finance knowledge. You must also have many years of experience in banking and finance with enough knowledge about that country's monetary policy. The steps to build a bank are not set in stone and can defer from one situation to another. It can also depend on the country you are looking to establish such a bank. I might not be an expert in the industry but I certainly have a few experience with management in the bank and how some country's monetary policy influence your bank.

Most times I don't blame banks for some sudden change in policy. For example, the situation in Ukraine made the banks to take quick actions stoping the citizens from withdrawing most part of their money. So many people have criticized this move online stating that no one should be able to stop them from withdrawing their own money. While I understand this standpoint, I also disagree because the country was at war and we just can't expect them to run into debt caused by panic.

Other scenario like when your bank puts a spending limit on your credit card, asks you for offline verification when dealing with a huge sum of money, etc. I wonder how you feel about this? Do you think banks have a case for telling you how to use your money?

 

[Ithedicious]

Well the bank sometimes will bring out some of these rules as a guide, if these rules are not being kept in place a lot of people will want to abuse the platform and that is just the reason there is rules and regulation everywhere around the world , because so many people are likely to abuse the freedom if there is no rule.

Currently most banks nowadays have reduced their monthly spending limit on MasterCard for international transaction to just $20 a month and to me that is not just the best because if they reduced it to that point then you can't be able to buy anything reasonable online if you are to pay it with a MasterCard.

Some of their rules are not really encouraging because there was a time some monthly spending limit for certain banks was almost $300 and at least that was something reasonable but now you can't get it anymore. Meaning that if you have a good phone to buy online you won't be able to buy it.

Sometimes most of these rules are always implemented because of the economic situation of the country, things are becoming difficult but it is the responsibilities of the bank to put the needs of people into consideration.

 

[Sotherefore]

For me, I don't really have any business to do with the bank in terms of saving. after all I am not saving my money in the bank.

A lot of people may not be satisfied because I have seen so many people who are complaining on different Bank branch about how their money has been debited unnecessary.

Although I never had such experience with Banks but investing money in the bank or saving it for long-term propose in the bank is a waste of time because it won't likely yield anything to me in return , even if I have to save it for a period of more than five years.

I only use Bank to only convert my cryptocurrency to cash, only on when I need the money but if I don't really need the money then all my earning will always be in the US dollars which is the stable coin.

Instead of me to save my money in the bank , I rather use that money to invest in real estate if the money is really up to the required amount . Real estate is another investment that might need a huge sum of money and only people with such as capable of investing.