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I'm just someone who's responsible enough to use big banks without losing money to completely avoidable fees. Personally, I don't give a shit and just want my business done correctly and efficiently, but whatever floats your boat.Īre you that oblivious or are you a banking Stockholm case? They offer good perks because they need to in order to survive if they didn't, people would just go to more convenient banks.Īnd that's great if you care about them knowing your name. They use your money and make more money just like any other bank. They most certainly are not "paying you" to have an account with them. They are paying me to have an account with them. They also reimburse all ATM use nationally up to six times a month. My small local bank offers no fees, no minimums, no required monthly deposits, and they know me by name. Others waive fees to entice more customers. Some banks charge more fees because they can. Why do you think credit cards get so many perks? It's because irresponsible people make money for the banks by going in debt and paying interest.Īll banks make money the same way: interest on loans, interchange fees and service fees. That's how the financial industry works, yes. Because they are a business and they need to make money that way. Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit.īased on what you just said, you're getting your free checking on the backs of the poor pleebs paying the fees. Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash.Private communication is not safe on Reddit. Scam alert: Ignore any private messages or chat requests.