When Banks Have You, They Have You - Deepstash
Upskilling: Preparing For The Future

Learn more about economics with this collection

Identifying the skills needed for the future

Developing a growth mindset

Creating a culture of continuous learning

Upskilling: Preparing For The Future

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When Banks Have You, They Have You

When Banks Have You, They Have You

  • Banking fees are associated with access to the payments system and all of the products and services that come along with that.
  • Some people in the banking industry say that measures such as overdraft fees are meant to deter customers from overspending.
  • In the past, banks have used overdraft protections (and fees) in their marketing to try to entice customers.
  • These are businesses, not governments, and it's not clear that banks should be in the business of trying to police behaviours through fees.
  • Overdraft fees are almost pure profit.

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Spending Money To Access Your Own Money

Spending Money To Access Your Own Money

  • Banks are in the business of making money, even if that means charging you to deal with money that's yours.
  • The concern is that consumers aren't able to effectively comparison shop because of practices such as drip pricing or hidden pricing that hide actual costs.
  • There's onl...

22

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The Alternative: Postal Banking

The Alternative: Postal Banking

Experts have advocated for postal banking, which would essentially turn the US Postal Service into a place that would also offer basic banking services

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Offshore bank accounts are mostly funded electronically through international wire transfers. The systems that enable free electronic transfers common in domestic banking are typically not able to transfer money internationally.

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