7 Ways Big Banks Steal Your Money


BANGALORE: Things are getting tougher these days for everybody and banks are no exception. But people are also getting exceptionally smarter these days. Even at the time of increased financial concern the world over people look for ways to save a buck. Nowadays for many banks the fees are becoming an important source of income, more than the interest income which means the difference of interest they give you on your deposits and what they get from loans. Banks are basically taking your money from your bank accounts under the shade of legal fees.

Let’s have a look at some of the ways; banks steal money from your account:

1. By charging while doing payments online

People buying stuff online have become massive over the past few years, and this has made no loss for the banks. Already, some banks are charging “online convenience fees” for purchases made over a limited amount through the internet. Other banks are eyeing this as a potential lode of revenue. Beware from next time before you use your credit or debit card online, confirm that your bank “does not” charge online transaction fees.