Banks Double Dipping
I felt annoyed when I could no longer receive cash back at Mac’s Convenience and was pointed to the back of the store. I find it no coincidence this happened right after the new Manulife ATM bank machine was installed and confirmed with Mac’s head office this was a corporate decision.
Banks profit from fees charged for merchant debit machine rentals, for each credit card and debit transactions and ATM customer usage fees. I’ve heard of double dipping before but this is triple dipping. Banks really don’t care about you or your money and customer service is laughable. They are becoming experts at cash grab. (There’s an expression) Non-interest income amounts to 44% of bank revenue’s.
Now it appears they’re dictating to merchants to drop value added service such as cash back. Cash back is quick and convenient. I can go anywhere to buy milk, bread, or gas.
Banks are a sales organization. It seems you only here from them when they want to sell you insurance, credit card or loans. They don’t even support their own Rewards programs. You have to call Scene for that and if you get robbed at an ATM machine, that’s your problem, not theirs. Pretty soon mobile smart phone technology will take over and you won’t find a bank branch around and we’ll all be reduced to phone or online support.
Some say it’s normal for banks to increase their margins as much as the market will bear. Isn’t it enough already? Did you know that the six largest banks’ net income in 2015 was $35 Billion? I love this slogan: "They're getting richer than you think.”
They have no public commitment to employ North American’s and continue to outsource in different countries. They lay off and trim head count while boasting record profits. In other words, they will happily evict you from your house in order to increase their wealth.
Banks hike rates because they can. The large banks are betting the customers will just take it. After all, we are polite Canadians.
“Any system is corrupt when it is strictly profit-driven, not driven to serve the best interests of its people, but those of multinational corporations.” Suzy Kassem
There are 6 major greedy banks out there. You’re a number on a balance sheet and nothing more however they do compete for our business. We must confront and demand otherwise get thrown to the wolves.
Signed,
Am I the only One?
Banks profit from fees charged for merchant debit machine rentals, for each credit card and debit transactions and ATM customer usage fees. I’ve heard of double dipping before but this is triple dipping. Banks really don’t care about you or your money and customer service is laughable. They are becoming experts at cash grab. (There’s an expression) Non-interest income amounts to 44% of bank revenue’s.
Now it appears they’re dictating to merchants to drop value added service such as cash back. Cash back is quick and convenient. I can go anywhere to buy milk, bread, or gas.
Banks are a sales organization. It seems you only here from them when they want to sell you insurance, credit card or loans. They don’t even support their own Rewards programs. You have to call Scene for that and if you get robbed at an ATM machine, that’s your problem, not theirs. Pretty soon mobile smart phone technology will take over and you won’t find a bank branch around and we’ll all be reduced to phone or online support.
Some say it’s normal for banks to increase their margins as much as the market will bear. Isn’t it enough already? Did you know that the six largest banks’ net income in 2015 was $35 Billion? I love this slogan: "They're getting richer than you think.”
They have no public commitment to employ North American’s and continue to outsource in different countries. They lay off and trim head count while boasting record profits. In other words, they will happily evict you from your house in order to increase their wealth.
Banks hike rates because they can. The large banks are betting the customers will just take it. After all, we are polite Canadians.
“Any system is corrupt when it is strictly profit-driven, not driven to serve the best interests of its people, but those of multinational corporations.” Suzy Kassem
There are 6 major greedy banks out there. You’re a number on a balance sheet and nothing more however they do compete for our business. We must confront and demand otherwise get thrown to the wolves.
Signed,
Am I the only One?
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