Saturday, February 3, 2024

I don't understand SoFi commercials at all....


"Little to no interest...." um yeah, that's been the case since like the 1940s.  Low interest rates for savings accounts are the price we pay for the security of our deposits.  Maybe you'd like to go back to pre Glass-Steagall when banks paid six percent interest- because they were as risky as any other business.  Personally, I'm kind of glad that I only see runs on banks in the annual showing of It's A Wonderful Life. 

And I'm sorry, but if you find yourself complaining about bank "fees" and how they "take and take," the problem really isn't the bank- it's your lousy spending habits.  The only "fees" I know of are for new checks (stop using checks.  Checks are dumb.  Checks are relics of the 20th century.  You are slowing down the line at the grocery store and everyone hates you.  Stop using checks) and overdraft fees (yeah, if you write a bad check or spend more on your debit card than you have in the bank, you are going to get dinged for that.  It's better than taking a hit on your credit rating, stupid.)  

All the bank does nowadays is provide you security and easy, 24/7 access to your money, plus the ability to move it around- also 24/7- whenever you want without leaving the comfort of your couch.  A fee because you take out more than you have?  How dare they. 

And if you really think that a bank that you can only talk to through an App or an Indian-based call center is an improvement over that awful awful brick-and-mortar building that was mean enough to charge you a fee when you failed to keep your checkbook balanced, well, you've got problems that switching to that bank won't solve.  Good luck with those.  

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