Banks in all the countries of the world operate in a state of complete secrecy and try to conceal from their customers many details and secrets. The main reason for this seems to be to try to preserve the privacy and secrets of the depositors and their financial situation.
A British finance and banking news website has been able to monitor 20 secret banks hide from their customers and try to keep customers and depositors away from their knowledge:
First, when the banks announce interest rates on their loans in promotional campaigns, this low percentage is not obtained by all of their loan applications. The reason is that the bank sets a certain number and limited to those who will be granted the loan at such a low rate. The higher the benefit for them. Of course, customers do not know this fact. Each one of them thinks that the rate of interest on his loan has been raised due to his own circumstance and that he has not met the low rate of promotion.
Second: Fees charged to your bank account do not equal the services you charge. This is in the case of banks that charge monthly fees on accounts. These fees justify some services, but it is surprising that most customers do not use these services at all, which means they pay more than they receive a service.
Third: When you use your bank card to pay purchases, whether ATM or credit card, part of the amount paid is a commission, and the surprise that this commission is recovered by the bank, that is the beneficiary of the shopping you do using the card issued to you.
Fourthly, using your credit card will benefit you in future banking transactions. Unlike credit card usage, the customer has a good history with the bank and thus facilitates transactions in the future.
Fifth: Some banks circumvent their customers by imposing higher fees on their purchases, if their bank accounts do not have sufficient funds to cover what they have purchased.
Sixth: If you deposit funds on the same day as your payments are due to be covered, some banks deliberately deduct the amount you are required to pay before you download the amount deposited in your balance, both on the same day, to ensure that you are charged or fined.
Seventh: Some banks delay the deposit of clearing checks in your bank account, in the hope that the account will be reduced to a level that incurs additional fees.
Eighth: When you apply for a credit card from the bank, you try hard to convince you to participate in an insurance service, and this service incurred expenses and fees, and the bank benefits, while the client does not need and does not benefit from anything.
Ninth: Early repayment of debts or mortgages. Many people think that early repayment can save a lot of money or costs to the owner. Many banks charge early repayment fees, which means that a person gets rid of his debt that costs him more and saves him nothing.
Tenth: If you close your credit card or cancel your credit card, this leads most banks to raise the interest rate on any financial loan you ask for, not vice versa as many people think. The reason is that your credit history appears through movements on the card and account.
Eleven: Your mortgage premium may rise even if interest rates remain the same in your country, and most mortgage agreements allow banks to do so.
Twelve: When you sign a loan or mortgage agreement with the bank, read the items in small print, including a lot of secrets you do not know, including “administrative fees”, “exit fees” and much more.
Thirteenth: Even if your bank account is free and you do not pay any monthly fees, it is not really free, just look for the fees you pay and how and where you do it.
Fourteenth: The real offers are not for the bank’s customers, but for the new customers. Do not believe that your bank gives you the best of it, always has better offers but keeps it to bring in new customers.
Fifteen: An old ATM card may be the most valuable to you because you may need it later, especially when you apply for a loan or mortgage.
Sixteenth: Your money may cost you money. Some banks charge money for ATM withdrawals, and others charge personal debit fees. So getting your money will cost you a fee, and many customers do not pay attention.
Seventeenth: Using your card outside your country may cost you a lot. Some banks charge high fees for using ATM cards and credit cards outside your country.
Eighteenth: The benefits on savings accounts are not always okay. Some banks encourage you to deposit your money at a high interest rate, then later cut interest rates. Most depositors do not notice that interest has fallen and that the return on deposit has declined.
Nineteenth: Do not buy foreign currency from the bank when you go on vacation. Banks often have the worst rates for currency conversion, although they try to convince you otherwise.
Twenty: Banks are waiting for their customers wrong. When you find a bank that gives you a free credit card and charges you 0% interest and fees, you do not think it will not win from you, but it bet you will make a mistake and pay your reward and fines, which is the profit it will make.
