What are Banks Really After?

Banks want you to think that they will lend you money…even when they won’t.  Why?  Because if they can convince you that they will lend to you, you will probably bring in deposits. The more deposits they have, the less risk they have to their bottom line.

What Banks are doing now is really pushing the term “Relationship Banking.” They tell you that they are looking for long term relationships with clients instead of just a loan relationship or one account relationship.

What this really means is “give us your money, and we’ll string you along for as long as we can. By the time you realize that we’ve been giving you the run-a-round we’ll have used your money and made a ton off of you.” This dirty tactic is pretty common these days…so watch out who you bank with!

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