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Nowadays it becomes harder and harder to try and save a buck, people work week to week to get by. One thing everyone knows is that what helps is trying to have a bank account to help manage money. But what if now that isn’t the answer anymore? We all have checking and savings accounts to help us manage daily monetary activities but what happens when these accounts become another debt?
According to huffingtonpost.com, banks are soon going to charge customers for having a savings account in an effort to protect their record profits.
It’s true that most banks charge some ridiculous fees just for having a bank account. But if the Federal Reserve get what they want and try to eliminate a special interest rate that it pays banks, banks are going to be forced to make these fees even more ridiculous.
According to the Financial Times subscription reports this outlandish move by the Fed could result in banks losing some easy money and they would replenish the difference via customers’ fees. Sometimes the consumer are damned if they do and damned if they don’t. One side of the coin the Fed wants to help the economy but on the other side they want to stay greedy. All in all, in the end it’s the consumer that loses.
Image source: www.wbrz.com
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