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Forum » Never understood the concept of bank loyalty
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Thread: Never understood the concept of bank loyalty

post 1678652973 03-09-2023, 03:32 PM
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  1. mainebrahh
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Never understood the concept of bank loyalty

A lot of people I know have a lifelong loyalty to a particular bank.

They think because they've banked there for a long time, or because their parents banked there etc. that they will somehow be treated better or get hooked up. These particular local banks always have some of the worst savings/CD rates and some of the worst rates if you're looking to lend from them.

I on the other hand bank with whichever bank can get me the best rate (also taking into account any other stipulations of course).
post 1678653063 03-09-2023, 03:35 PM
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  1. miscallday12
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how to tell me ur poor without telling me ur poor
post 1678653433 03-09-2023, 03:42 PM
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  1. mainebrahh
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Originally Posted By miscallday12⏩
how to tell me ur poor without telling me ur poor
Strong logic.
post 1678653623 03-09-2023, 03:44 PM
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As long as they keep my money safe and it’s available when I need it, I don’t care.

CDs can’t even keep up with inflation, so who cares what the price is.

Also all banks have horrible interest rates for savings, so just lol at trying to max profits when the difference is few dollars at most.

Lastly, changing banks is a huge hassle, especially if you aren’t a povertycel and have autopay on everything.
post 1678653923 03-09-2023, 03:50 PM
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  1. mainebrahh
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Originally Posted By Xerve⏩
As long as they keep my money safe and it’s available when I need it, I don’t care.

CDs can’t even keep up with inflation, so who cares what the price is.

Also all banks have horrible interest rates for savings, so just lol at trying to max profits when the difference is few dollars at most.

Lastly, changing banks is a huge hassle, especially if you aren’t a povertycel and have autopay on everything.
These local banks pay like 0.1% still srs, at least your average online bank pays around 4%. Park 50k in there or whatever amount you want to keep liquid, invest the rest elsewhere.

And it only takes 10 minutes to sign up with a bank.... are you disabled?
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