Sunday, June 03, 2012

Post Modern Banking

At the moment banks make profit from playing with customer’s savings as well as charging them with different sorts of fees related to the accounts.
Thus bankers make a double-kill: they ‘milk’ people and the people’s money. This might be acceptable in the past but is increasingly seen as unethical and greedy. Especially in the light of Occupy Wall Street movement which sends a clear message: Greed is bad for business!

I’d like to see a bank with honest strategy: PEOPLE BEFORE PROFIT. 

1. The bankers should realize that when customers give their money/savings to a bank, it’s the bank’s privilege and not the customer’s.

2. Practically it means that a bank should treat its private account holders as equal partners and make all their accounts activity absolutely FREE (no annual fees for credit cards, any money transactions or any other hidden or unhidden costs.)

3. The bank makes money only from outside business investments!

No comments: