I think this is really important topic for everyone in the world, because sometimes we are not aware of what is happening at the banks.
How are they working? How are they making profit? How could you save some money? How much power do you have as a customer? How are they making profit even during crisis?
So the purpose of this entrance is to teach you how to save some money. I was a bit surprise when I was talking with my friends and I saw that they were paying some commission for the bank and I was not. That is why I am trying to reach as many people as possible in order to help them understand that you can get everything for free and spend that money on something else.
Imagine if your bank charges you 20 euros per year. What would happen in 40 years? 20*40=800 euros and we don’t count inflation rate, which is annually around 2-3%. So it would be even more!
Do you know that you can negotiate at the bank? Bank is like a market. Even as small customer, you have different options how to don’t pay commissions.
Examples: If you lose the card and you tell them I lost the card. Then they will send you new card and they will charge money for it, but so simple could be if you tell them “someone has stolen my card“, they won’t charge you anything. If they would like to charge you, talk with them. Tell them that you don’t want to pay, make scandal of it and they will have an option to don’t charge for it. At the worst case tell them I will change the bank.
You know that the bank account that you have you always can change it. There are a lot of banks in the city and you know what, some of them they don’t charge anything at all. Everything for free: internet bank, card, account, transactions…
Sometimes they request something from you:
– Be young, retired…
– Have fixed incomes
– Have some deposit
– Some permanent amount in the bank account
The bank is getting profit from your money when you deposit it, they just save small amount of it and then invest it somewhere else. So if you leave money and they are getting profit from it, you should at least ask for no commission at all or even interest rate for your money at your bank account, even small one.
Everything is possible, it is just looking around competition. Don’t be ignorant, don’t accept things because they are like this, look around you and in this way you will discover a lot of new things.