Have you lost your faith in banks yet? You read it in the newspaper. It’s all over the place. The government needs to save them. A lot of them might not have survived without the government. A lot of them won’t even survive with help. The smaller banks are failing. Do you still use banks?
Is a bank a forgone conclusion for you? You get money it goes into the bank. That’s just the way it is right? It can’t be any other way. What if it could? Do you really need banks?
We are taught from the beginning that money goes into a bank. You have a question about money you go to your banker. They know all things. You buy savings bonds at the bank, invest in CDs at the bank, save your money at the bank even pay your bills at the bank. They are the greatest business in the US. They have succeded in having all things flow through them. What other business can say that? Better yet would the general public allow that from any other business. Microsoft has tried in the computer world and there is backlash. Google fights, Apple fights, the consumer fights it. Does anyone fight banks?
You could argue that financial institutions are fighting banks but not at the core. They want the question of where to put my money but they don’t offer the transactions that banks offer. They want to give you a different way for long term savings but aren’t worried about the short term. They want your CD and savings bond money. Where do you go for that the bank or the financial institutions?
Do you even need to use a bank? How do you use them now? Now that they have been humanized, they can make mistakes and huge ones at that, do you still trust them? Trust them with your hard earned money? Trust them for financial advice? I was at the teller the other day and I overheard an older gentleman next to me just tell them to put his money into a CD. No shopping around, no questioning the rate, just trust that they’re the best way to do this. He hasn’t lost faith? Have you? Have you changed the way you interact with your bank?
Related posts:
