reality radio for a really great future we're talking real money

hey welcome to talking real money tomcock here don macdonald with the day off and a

special guest you've heard from her before we're glad to have her back one of our advisors

will talk to her

in just a moment. But I, and I'm not supposed to do this. I'm going to get in trouble with Don.

But this just came across the wires. Remember that expression came across the wire? Anyway,

about a big bank that advertises a lot. You see them on TV. I don't watch very many ads on TV,

but somehow I can't avoid them

maybe because of sporting contest. Capital One. Now, the banks are in the business of making

their shareholders money. We should never forget that. Credit unions, you're a member of,

so therefore their profit motive is left. But the banks, yeah, their job is to maximize

shareholder value. And how do they do that? Well, they pay you less interest

in many cases. And in this case, it's kind of shocking. Capital One offered these special

interest accounts and then confused you. You put it in the wrong account and you didn't make the

interest you thought you're going to. The advertisements say, what's the catch?

There is none.

That's what the bank says.

But there were two types of accounts that they operated.

The 360 savings and the 360 performance savings.

Now, one had an interest rate of 0.3, which is, now we've talked about leaving your

money at major banks. They don't pay much in your savings account. The other, they were offering

at a far higher rate, like 4, 4.5%. But unless you really parsed it carefully, people put a lot of money in the wrong one,

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