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If I give a bank my cash, it is I who am providing them the service of liquidity, so that they can have money to loan to others (as a service) for interest.

The only way I could find a "bank" with lower fees was to abandon banks altogether and switch to a credit union. I swear it's like all the banks collude to determine market rates for how many and how high of fees they can all charge their customers, to the point where—as a regular consumer—they're all indistinguishable.

Not only are the credit union's fees lower (or non-existent in some cases) the interest rates are higher and there are no shareholders to appease, except for other members of the credit union.



Don't banks provide the service of reducing the danger of holding cash or storing money in a risky investment?




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