Reasons I hate banks & Hidden truth about them

Everyone hate banks because Banks tend to make a lot of money and they do it using our money. Crazy noh? Here’re some Reasons I hate banks & Hidden truth about them

Sing with me 🙂

Well, I hate banks, I just can’t stand ’em
Gimme a shovel and, man, I’ll plant ’em
Six feet under, that’s where they belong
“I Hate Banks” is the name of this song
I think I’ll rob myself one or two
I hate banks, yeah, how ’bout you?

Reasons I hate banks

1. Banks tend to make a lot of money and they do it using our money.

2. Frequently Banks are caught doing rather unethical things – like Loan frauds, Bank scandals.

Read Here 5 Biggest Banking Scandals

3. People don’t generally like things/people that have more money than they do, and banks are perceived as having all the money.

4. People do not hate banks, most view them as necessary evils. Hate is too strong a word. Remember, no-one likes being told no or having to pay back what they borrowed.

5. People hate banks because of its not so thankful employees who’re just sitting on the chairs over-burdened with work and not worrying about the customer. (Here in India, SBI is hated for its lazy employees)

This may be due to the fact that the staff are over burdened.

6. Indifferent attitude of staff: It is felt that the staff members in some of the branches show indifferent attitude towards customers. May be because their job is more secured with many benefits including Pension as third benefit.

7. Very low FD returns – When it comes to FD (Fixed deposit returns) Bank only gives 4%-7% per annum while it recovers 10-14% on loans.

Then there are few spooky customers who have fought with their wives and come to bank to release their frustration at bank teller over charges deducted from account because of non maintenance of minimum balance.

Another popular misconception (I’m talking about the UK here) is that banks are a social service that should dole out money willy nilly, forgetting they are a business out to make a profit. That said, modern banks have forgotten how to treat or appreciate both customers and their staff, treating them simply as numbers to be exploited.

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