A banks function, ideally, is to store value. Anything that aims to make money isnt a doing what a bank is supposed to do. Modern day "banks" are nothing more than businesses that turn profit by providing services.
The "ideal bank" would be one in which you put your money in, and nothing happens to it until you say it does. Would you be willing to bank at an institution that provided only the monetary services you wanted? If your bank offered you the option of having your money used by them..or only functioning as a place to keep your money, which would you choose?
Should banks be allowed to use your money? (Obviously they can, im talking should).
The principles behind modern day banks seem shoddy imo
Ahh..so people dont use banks to bank, they use them to invest.
yes, in my ideal world, a bank and a storage facility are the same thing. Id rent a safety box at a storage facility if it did grant me the ability to manage my money effectively ie debit cards and checks. Call me selfish, but if someone is going to be spending and making money off of my money, that person should, you know, be me...
For my investing needs, id go to an investing firm instead..
The "ideal bank" would be one in which you put your money in, and nothing happens to it until you say it does. Would you be willing to bank at an institution that provided only the monetary services you wanted? If your bank offered you the option of having your money used by them..or only functioning as a place to keep your money, which would you choose?
Should banks be allowed to use your money? (Obviously they can, im talking should).
The principles behind modern day banks seem shoddy imo
Ahh..so people dont use banks to bank, they use them to invest.
yes, in my ideal world, a bank and a storage facility are the same thing. Id rent a safety box at a storage facility if it did grant me the ability to manage my money effectively ie debit cards and checks. Call me selfish, but if someone is going to be spending and making money off of my money, that person should, you know, be me...
For my investing needs, id go to an investing firm instead..