Comments on: How Brick and Mortar Banks ARE Robbing You http://www.onlinesavingsblog.com/2007/02/05/how-brick-and-mortar-banks-are-robbing-you/ Personal finance, online finances, and more. Tue, 18 Nov 2008 15:33:29 +0000 http://wordpress.org/?v=2.6.3 By: 2million - My Journey to Financial Freedom http://www.onlinesavingsblog.com/2007/02/05/how-brick-and-mortar-banks-are-robbing-you/#comment-62 2million - My Journey to Financial Freedom Mon, 12 Feb 2007 13:43:08 +0000 http://www.onlinesavingsblog.com/?p=67#comment-62 <strong>Carnival of Personal Finance #87 in Rio...</strong> Welcome to the 87th edition of the Carnival of Personal Finance. Just in time for the real "Carni'val in Rio" this week's edition is ready to party!! So grab a cocktail and lets get started with the parade. First up,...... Carnival of Personal Finance #87 in Rio…

Welcome to the 87th edition of the Carnival of Personal Finance. Just in time for the real "Carni'val in Rio" this week's edition is ready to party!! So grab a cocktail and lets get started with the parade. First up,……

]]> By: ForeclosureFish http://www.onlinesavingsblog.com/2007/02/05/how-brick-and-mortar-banks-are-robbing-you/#comment-61 ForeclosureFish Wed, 07 Feb 2007 01:59:49 +0000 http://www.onlinesavingsblog.com/?p=67#comment-61 I agree. Most people should take their money out of conventional banks right away. One of the problems is, of course, brand loyalty. "I bank with Chase," "My account is with WaMu," etc. Some consumers have their savings accounts, mortgages, credit cards, and everything else with their brand name bank, regardless of the better deals all over the country and online. Another reason could just be convenience. Most people use a bank close to where they live, and find it more convenient to leave everything in that bank. They feel "safer" being able to go to the local bank and pull out some money or talk to someone in person, if need be. Ironically, though, many people just pay for everything through their cards that it really doesn't matter where they bank. They should be looking for the best deals, which usually aren't found in their local brick and mortar banks. Good observations here. Regards. I agree. Most people should take their money out of conventional banks right away.

One of the problems is, of course, brand loyalty. "I bank with Chase," "My account is with WaMu," etc. Some consumers have their savings accounts, mortgages, credit cards, and everything else with their brand name bank, regardless of the better deals all over the country and online.

Another reason could just be convenience. Most people use a bank close to where they live, and find it more convenient to leave everything in that bank. They feel "safer" being able to go to the local bank and pull out some money or talk to someone in person, if need be. Ironically, though, many people just pay for everything through their cards that it really doesn't matter where they bank.

They should be looking for the best deals, which usually aren't found in their local brick and mortar banks. Good observations here.

Regards.

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