Banks Won't Make You Rich

[NoNetwork]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.

I must agree. In fact this is not an opinion, its the reality. But on the other hand Banks really do make profits, if and only if you're investing a really large amount of money, like in the millions - that's financial freedom for you. That's how cryptocurrencies and fiats differ from each other.

[clarky]

Banks won’t make you prosperous because they turn out to be richer thanks to you. They are no longer charities. When they give you a loan, they make money from the interest, and when they supply you hobby for leaving your money there, they additionally make money due to the fact they get a higher interest managing that money. But genuine one splendid way to have a massive return is to enter in shares and of direction trading. But this is much greater, this is what's exact being in cryptocurrency. We have mining. Don't forget about to invest in mining. This is one of the best way to get wealthy it has a terrific return when you insert your money.

[rutherford]

Yeah, i agree with you. Banks won't make us rich, their job is to keep your money safe, because it will be more dangerous if you keep all your money in cash at home, right? If you want to be richer you might want to invest your money into gold, stocks, properties or currencies.

[miltonpogi]

In my opinion banks will not make you rich but it can give a average or high amount of money depends on how huge your investments is, making your money more secured is there main process and not making you rich maybe it can give a little amount because of the annual interest.

[Hareehs]

Absolutely yes,  that's right.  Because bank fees are infuriating for everyone and it seems every chance they get, banks find a way to stick it to you. I understand banking is a business and fees are a major source of revenue. But banks fees feel insidious, not because banks shouldn't charge for their services, but because they are so opaque. Banks often charge fees for services without asking you first.

And in fact, base on my researched I found out something that what's particularly galling to me about overdraft fees is that they disproportionately are levied on the poor. The billionaire is not typically the one who pays these fees. About 80% of bank fees are paid by 20% of bank customers, and according to the FDIC low income (people who earn less than $30,000) earners are nearly twice as likely to have paid an overdraft fee. Even worse, it is not uncommon for poor people to rack up many fees and owe the bank money they can not pay. Eventually their account is closed by the bank. Once your account is closed it's extremely difficult to open an account at another bank. So worst right?  Pity to those people who is poor.

Regressive bank fees are a terrible equilibrium. But to be fair, in a world of no fees, poor customers are the most expensive for banks. Banks are still not the government; they do not have a social obligation to tax the rich and give to the poor. Quite the opposite, banks have every incentive to treat high net worth customers better. And that would be the reasons why bank won't make poor rich. And that's the fact and reality.

[ChConcept]

I agree with this "Banks won't make us rich" . I believe that we put or money in the banks for safe keeping, that's true but if you think your money will grow in their safekeeping, think again. How much is the interest of your money per year in a bank, 1% to 2%? do you really think this will help you increase your money's worth over time? yes technically it will increase but if you look closely and check inflation, then its a totally different story now. If you want your money to grow, increase and get rich, have a job or a business and start investing for your future, may it be in stock market, mutual funds, land and real estate properties, gold and even in crypto currencies like Bitcoin. That is the real way for your money to grow never the banks.

[hubble_kind]

Of course, even we are deposit on long term doesn't make us richer. It's not right decision if you want expand your money, but for security, i will never doubt it.

[motoprose]

This could never happen because of all the fees they charge you to do anything with your own money you are holding with them.
They in a sense do not even have your money with them but lend it out to other banks and gain even more interest from it than they give out to their customers.
So it is a double loss if you are customer of any bank in the world.
Everything is on paper (or for most on a screen now a days) and not actually held physically in the bank.

[Dark Sky]

This could never happen because of all the fees they charge you to do anything with your own money you are holding with them.
They in a sense do not even have your money with them but lend it out to other banks and gain even more interest from it than they give out to their customers.
So it is a double loss if you are customer of any bank in the world.
Everything is on paper (or for most on a screen now a days) and not actually held physically in the bank.

saving in bank is sometime very risky if you want extra profit of them, so i think online investment is much better than banking because if you invest in online currency it will give extra profit and you will buy any thing for your family and future but bank will never give you these all facilities.

[Williams_Leo]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

In my country, many people still think that they only need to send money to the bank to get the monthly interest to become unconditionally money but on the other hand, they do not know that those banks have made Get a lot of profit by getting hold of customer coins.

[Kambal2000]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

In my country, many people still think that they only need to send money to the bank to get the monthly interest to become unconditionally money but on the other hand, they do not know that those banks have made Get a lot of profit by getting hold of customer coins.

You are right, banks will not make you rich, they are just after your money that they will take care of it because they are using it in lending it to some people and in some companies which they are lending at higher price but they are just giving you a bit amount of interest on it so they are just the one earning and not us.

[Fatimah Azzahra]

yes I agree your opinion, indeed Bank will not make us become rich, but Bank can become richer because us.
Banks only keep our money safe, but behind it all banks manage our money and can make a lot of money from our money.

[Boknoi321]

the bank just to save your money and for security you have to pay a fee to the bank, so how can it be rich if saving money in the bank. invest better if you want to be rich because your money will increase, will not decrease as it keeps your money in investment. unlike in the bank that charges you.

You can rich to it also, investing is a big thing for you to have the amount you want in a bank. Make sure you have the best bank or the known bank, the higher the bank and the higher you invest the bigger the amount you get.

[lioking]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

everyone knows that the banks can not make you rich.people  keep money  in bank for safety.but some banks give a little bit profit for keeping money . make huge profit or become a rich you have to invest your money in business and you can also invest in bitcoin and here you can be profit or lose.

[Blondy12]

Absolutely true. Way back years ago, we used to have a family business and all our earning goes directly to the banks since we avoided having too much cash in our house for security reasons. Let’s just imagine how big amount of money we deposited almost everyday but at the end of it all, we only got so little interest from our savings. That is the reason why we withdrawn all the money left and invested some in bitcoin and put up another business than just let our assets sleep in the bank.

[Irviyandi]

It is very true that this bank will not make us rich because the bank where to save the money we have bank u i just just secure our money, but if in bitcoin this can also save money and also can make our money more by way of trading and mining

[SaiWAFU]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

Banks aren't suppose to make you rich, its suppose to only protrect your money.

Banks are businesses that profits from client loans and other monetary transactions.

[g-unit]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

Banks are created for profit by their owners. They are not supposed to give a profit to people. It's our interest, not theirs. But they can provide us with different financial services such as deposit and credit.

[Gila uang]

This is absolutely correct, because banks are just one of the places where we keep money, not the place to make a high profit for us. So consider before deciding where to invest your money.

I think when they give you a loan, they make money of interest, and when they give you an interest to leave your money there, they also make money because they get higher interest manage the money. Bank will not make you rich as they become rich thanks to you. they are not charity.

[Abiky]

Right. And instead, we made the bank rich because they only gave us low interest for our savings but when it comes to loan they gave us high interest, well in fact it is our money  whom they utilized. They're earning higher interest out of our money.

Agree. While Banks won't make you rich anytime soon, they'll become richer the more money you put in them. With low interest rates, it's not practical to store your money and achieve great results in the long term. In the end, they'll become richer, while you become poorer due to fiat's inflationary model. That's why, it's best to look for other options that will make you rich, instead of depending on a bank.

With cryptocurrencies, you could be your own bank, as they give greater interest rates and security than a bank itself. If you manage to invest into cryptocurrencies such as Bitcoin and Ethereum, and use a hardware wallet for security, then you could achieve greater results over your financial stability in the future. Before you know it, you'll become rich at a fast pace with cryptocurrencies than banks, since the whole cryptocurrency ecosystem is highly rewarding. Factors such as volatility, and stake rates, will make you richer over the long term. Just my thoughts