What You Don't Know About Big Banks Could Hurt You

Big banks are not your friend. In fact, they can be dangerous for your money. In this post, I’ll show you how big banks are trying to take advantage of you and how you can beat them!

What You Don't Know About Big Banks Could Hurt You

What You Don't Know About Big Banks Could Hurt You

What You Don't Know About Big Banks Could Hurt You

Ok, I have to admit it. I use to work for a local Cincinnati bank. (Actually, it was a credit union but they are pretty much the same thing these days.)

I use to be the overworked IT guy at the bank and I learned a TON when I was there about how all the details of the bank work behind the scenes.

I’ll summarize it down to one sentence: Banks are not your friend and their sole purpose is to find ways to make money off of you.

It’s the sad and honest truth. It wasn’t always like that, but that is what banks have become today.

I would go as far as to say that banks are your vile enemy. They are there to suck out every penny from your creaky old checking account that they can.

They make up random sleazy fees like it’s nothing.

You ever got one of these?

Account Opening Fee, Account Closing Fee, Account Usage Fee, Account Birthday Fee, etc….

Ok, I’m exaggerating a bit, but you get the idea. It’s insane.

I’d bet that you’ve had the old “overdraft fee” at least once. Am I right?

Don’t be embarrassed, they get the best of us. I’ve had ‘em before.

I’ll tell you a little banking behind the scenes secret. It’s not your fault.

Banks are trying to make you fail. They purposely run their cranky old computer systems in sneaky and sleazy ways to try to make you go negative so they can SLAM you with another giant bank fee!

I’ll give you an example. Let’s say your car insurance will be coming out of your checking account. You’re a little low on cash so your hoping your paycheck will hit your checking account soon.

Both the car insurance payment hits your account the same day as your paycheck. You would think, NICE, just in time!

Nope! The bank will make sure the car insurance payment comes out BEFORE your paycheck so they can slam you with another sleazy bank fee!

Not so nice, are they? Big bank executives are about as greedy and immoral as people get.

Don’t work with BIG useless banks. Banking shouldn’t be this way!

So the question is how can we beat big banks at their own game?

Online Banks

Yes, that’s right, good old modern online banks. Online banks are new and fresh. They are using the latest technology.

That may be a bit too much technology for our parents who are stuck at the old and crusty big banks, but not for us.

Online banks are doing things that the old banks could never do and would never do because the big banks don’t care about taking care of their customers. They care about making money.

Who’s getting all this money? The young people working at the banks as tells for barely a livable wage? Nope, that money for their one foot in the grave old fat white guy executives.

You know the kind.

It’s time my friend. Time to ditch the loser bank and get with a good one.

I know what you’re thinking. Switching banks is too much trouble.

Yeah, it’s not the best, but sometimes it’s worth it and in this case, ditching that old bank is worth it.

Here’s why it’s worth it:


This is the biggest reason. Fees suck! You shouldn’t have to pay some crinkly old bank money just to use your money.

You’re loaning the bank your money when you open a bank account for nearly free!

Yep, they are using your money to make money when you put it in the bank and on top of that, just like a kid who can’t stay out of the candy jar, they keep slipping their nasty old fingers into your jar to get a little more of your hard earned money.

They’re taking money from you to give it to fat rich guys who don’t even need it.

Modern online banks remove the old fashion fees. Say goodbye to overdraft fees, minimum amount fees, NSF fees, and whatever else BS fees they make up.

Yes, it’s true. Modern online banks get rid of all those BS fees you’ve had to deal with.

You shouldn’t have to be scared to keep your money in a bank. It’s YOUR money, not theirs!


Those crumbling old banks just can’t seem to keep up on technology. They always seem to be one stop behind on technology.

Barely working sites with terrible design has become the norm for big banks.

No more with online banks. Welcome to the modern times when you open an online bank account.

Good online banks provide awesome tools you can’t get at the old crusty banks.

My bank for example has awesome features for automated budgeting, paying bills, and saving for financial goals!

Why would the old banks provide that when they could focus on coming up with new ways to fee you!


This one is downright immoral in my opinion.

The way banks work is they take your money and hold it for you. Everyone understands that part.

The part not everyone knows about is that these banks take that money and loan it to other people to make money off of it.

Now don’t get me wrong, if you come to the bank and withdraw your money or use your debit card the bank will make sure there is money there for you.

However, when they loan out your money to other people they are charging interest to them. That’s how they make money off of your money.

They charge a pretty good amount of interest too. They may charge 3% or even 5%. Sometimes more!

Now, how much is that big old greedy bank paying you off the interest money they are making? Half? 1%? Nope!

Usually you get about .05%. Yep, that’s right! Pretty much nothing. The average person pulls in a sweet penny for their money while the bank rakes in big interest off your money.

That “friendly” big old bank isn’t so friendly are they?

On top of ripping you off with no interest, they are pulling every trick out of their top hats to find ways to fee you to suck even more your money out of your account.

Online banks are totally different!

You will actually get a decent interest rate that is worth your time.

For example, my online bank is giving a return of 2.02% on a savings account right now!

How does that compare to the crappy big bank down the road? .05% is about what they are giving…

Get real, what a loser bank…

Ditch Your Loser Bank and Get With a Winner

Hopefully at this point you understand how those old banks work and how brand spanking new online banks are replacing them.

If you haven’t already, it’s time to ditch your loser big bank and get with a winner big bank.

Go forth and check out reviews of online banks to see which one is right for you!

My wife and I both use Simple and love it! I highly recommend checking them out to see if they could work for you!

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