7 SECRETS Banks Use to EXTRACT Money From Your Account | 1390

Epic Real Estate Investing

Matt Theriault

Education, Business, Investing, How To

4.8 • 955 Ratings

🗓️ 24 November 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this eye-opening episode, we dive deep into the seven hidden tactics banks use to exploit their customers and maximize their profits. From the subtle ways banks profit off your savings to the various fees that seem to appear out of nowhere, we reveal the strategies that financial institutions don't want you to know about. You’ll learn how banks manipulate the order of your transactions to trigger costly overdraft fees, and how they use fine print and confusing terms to make money off you without your awareness. We also break down why using a credit card may offer you greater protection against fraud compared to debit cards, and discuss the often-overlooked advantages of credit unions as an alternative to traditional banks. Plus, we expose the truth behind so-called "free" checking accounts, showing how they often come with hidden charges that could end up costing you more in the long run. Whether you’re looking to avoid unexpected fees, protect your money from fraud, or simply make smarter choices when it comes to managing your finances, this episode provides the knowledge you need to navigate the world of banking with confidence. Watch now and take control of your financial future! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Terio Media.
0:05.0	Hey, strap in.
0:07.3	It's time for the epic real estate investing show.
0:10.1	We'll be your guides as we navigate the housing market, the landscape of creative financing
0:14.6	strategies and everything you need to swap that office chair for a beach chair.
0:18.9	If you're looking for some one-on-one help, meet us at rei-aise.com.
0:23.5	Let's go, let's go, let's go, let's go, let's go, let's go, let's go.
0:27.5	Let's go.
0:27.9	Did you know bank executives regularly sit around conference tables and plot evil schemes
0:33.2	to extract money from their customers' accounts?
0:35.7	They've come up with a number of these secrets over the years
0:38.5	that could be draining your wallet without you even knowing it.
0:41.6	I'm exposing seven shocking truths that banks they don't want you to know.
0:45.4	And number four, blows most people's minds when they first hear of it.
0:49.1	Number one, banks always encourage you to save money.
0:52.7	They've got catchy ads, savings accounts with tempting
0:55.5	names, and they make it seem like they're helping you build a secure future. But here's the truth.
1:01.0	Banks don't actually want you to save for your benefit. They want you to save for theirs,
1:06.2	so they can take your money, invest it, and earn high returns while giving you next to nothing
1:12.7	in interest. Most savings accounts, they pay less than 0.5% interest while the bank is using
1:18.3	your cash to earn far more. You're essentially letting them make money off your money for free.
1:23.3	I did find a bank that's paying more than 4% interest on their savings account.
	...

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