Comments on: Australians Should Move Money Into High Interest Bank Accounts http://www.bhatt.id.au/blog/australians-ripped-off-by-banks-low-interest-transaction-accounts/ Technology Reviews, Movies and TV Shows, Personal Finance, Politics, Environment, Books... Tue, 07 Feb 2012 06:08:55 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: sam http://www.bhatt.id.au/blog/australians-ripped-off-by-banks-low-interest-transaction-accounts/#comment-19599 sam Wed, 18 Nov 2009 19:57:45 +0000 http://www.bhatt.id.au/blog/australians-ripped-off-by-bank-low-interest-transaction-accounts/#comment-19599 Banks are a rip off for sure. And I know because I work for one. The way the make a large chunk of their profits is that they make savings account redundant after 1 or 2 years, which allows them to reduce the interest rate without you knowing. But my advice is to play them at their own game. Shop around every 6 to 12 months to get the best rates and move your money if necessary. Banks are a rip off for sure. And I know because I work for one.

The way the make a large chunk of their profits is that they make savings account redundant after 1 or 2 years, which allows them to reduce the interest rate without you knowing.

But my advice is to play them at their own game. Shop around every 6 to 12 months to get the best rates and move your money if necessary.

]]> By: xs001 http://www.bhatt.id.au/blog/australians-ripped-off-by-banks-low-interest-transaction-accounts/#comment-1707 xs001 Mon, 29 Sep 2008 05:25:09 +0000 http://www.bhatt.id.au/blog/australians-ripped-off-by-bank-low-interest-transaction-accounts/#comment-1707 With so many banks going bankrupt it is in the interest of the person making a deposit to see that the banks are financially sound. Even if you get a percent less on a bank which is finacially strong I advise you to invest in that bank. Getting a high rate is good but not at the cost of the amount that you deposit. With so many banks going bankrupt it is in the interest of the person making a deposit to see that the banks are financially sound. Even if you get a percent less on a bank which is finacially strong I advise you to invest in that bank. Getting a high rate is good but not at the cost of the amount that you deposit.

]]> By: chrono_phoenix http://www.bhatt.id.au/blog/australians-ripped-off-by-banks-low-interest-transaction-accounts/#comment-1706 chrono_phoenix Fri, 29 Aug 2008 03:36:34 +0000 http://www.bhatt.id.au/blog/australians-ripped-off-by-bank-low-interest-transaction-accounts/#comment-1706 All banks are a rip-off. While they are investing your money and making huge profits...they throw you a few crumbs in interest and report every dime and dollar to the government, which takes their cut, by taxing your capital gains. Afterall, banks are part of "big business" and "big business" runs the government. That's why banks are backed by the FDIC and if a bank fails, THE TAX-PAYERS FOOT THE BILL. So banks can be as careless as they want to be...and they won't lose. The smartest thing a person can do, is to invest in rare coins. A wise investor, can easily double his investment every 18 months or so. In addition, he doesn't have to worry about being coerced into giving the government a cut of his profits--or be thrown in prison. "Big brother" has no way to monitor YOUR money. All banks are a rip-off. While they are investing your
money and making huge profits…they throw you a few crumbs in interest and report every dime and dollar to the government, which takes their cut, by taxing your capital gains. Afterall, banks are part of “big business” and “big business” runs the government. That’s why banks are backed by the FDIC and if a bank fails, THE TAX-PAYERS FOOT THE BILL. So banks can be as careless as they want to be…and they won’t lose.

The smartest thing a person can do, is to invest in rare coins. A wise investor, can easily double his investment every 18 months or so. In addition, he doesn’t have to worry about being coerced into giving the government a cut of his profits–or be thrown in prison. “Big brother” has no way to monitor YOUR money.

]]> By: green pen http://www.bhatt.id.au/blog/australians-ripped-off-by-banks-low-interest-transaction-accounts/#comment-1705 green pen Wed, 02 Jul 2008 13:08:44 +0000 http://www.bhatt.id.au/blog/australians-ripped-off-by-bank-low-interest-transaction-accounts/#comment-1705 Bankwest Telenet Saver only pay interest from the FIRST working day of the month to the LAST. So if take November 2008 you will only earn interest for 26/30 days (dunno if this is normal practice) but other banks I've used like St George pay interest for the full month Bankwest Telenet Saver only pay interest from the FIRST working day of the month to the LAST. So if take November 2008 you will only earn interest for 26/30 days (dunno if this is normal practice) but other banks I’ve used like St George pay interest for the full month

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