Did you know, that without you, banks would not survive. Not you as a borrower, but you as a depositor.
That is why so many banks are fishing for your business. Some are even going as far as offering such things as gift cards to trap you into opening an account with them.
The more depositors they have, the more money they have to lend out.
So don't think banks are there just to help you out. They operate exclusively to make a profit. And again it takes you, the depositor to do it.
But if you do decide to open a bank account or already have one, consider these facts.
1. Opening a bank account is not always a wise financial move.
2. For those who are not properly informed, it can have a very negative effect on your money.
3. There are advantages of having an account.
4. There are disadvantages of having an account.
5. Not all banks offer the same services.
6. Not all banks offer the same financial products.
7. They do not charge the same fees.
8. Not all banks are insured by the FDIC. So your deposits may not be safe from losses.
Click here to learn more about the advantages and disadvantages of having a bank account.
