Warning: Your Money in the Bank is Not Yours
Do you know what you signed up to when you ‘deposited’ your money in the bank
(Shared in the thread below 👇🏻 )
Well first is it is not a ‘deposit', it is a ‘loan’ to the bank. And not all ‘loans’ get paid back
Here are 6 other shocking truths about your money, written into the banks terms & conditions:
(No. 4 is the MOST shocking)
Do you know what you signed up to when you ‘deposited’ your money in the bank
(Shared in the thread below 👇🏻 )
Well first is it is not a ‘deposit', it is a ‘loan’ to the bank. And not all ‘loans’ get paid back
Here are 6 other shocking truths about your money, written into the banks terms & conditions:
(No. 4 is the MOST shocking)
>Permission to Lend Your Funds
“The bank may lend deposited funds to other customers or businesses, subject to regulatory guidelines.”
This is “fractional reserve banking,” where banks lend out a majority (90%) of the money deposited to earn interest on ‘your' money
“The bank may lend deposited funds to other customers or businesses, subject to regulatory guidelines.”
This is “fractional reserve banking,” where banks lend out a majority (90%) of the money deposited to earn interest on ‘your' money
>Investment of Deposits
“The bank may invest deposit funds in secure investment vehicles to generate returns.”
The banks can invest your money wherever they like, & earn on ‘your' money
“The bank may invest deposit funds in secure investment vehicles to generate returns.”
The banks can invest your money wherever they like, & earn on ‘your' money
>Usage Restrictions
“Savings accounts are subject to withdrawal limitations, which are enforced to comply with federal regulations.”
Banks can stop you withdrawing, or control where & how much you withdraw (Some banks limit to £1k a say or £5k a month into crypto)
“Savings accounts are subject to withdrawal limitations, which are enforced to comply with federal regulations.”
Banks can stop you withdrawing, or control where & how much you withdraw (Some banks limit to £1k a say or £5k a month into crypto)
>Use of Funds for Operational Purposes
“The bank reserves the right to use funds generated through deposits for operational expenses in maintaining secure and efficient banking services.”
Banks can use YOUR money for THEIR expenses.
This is shocking
“The bank reserves the right to use funds generated through deposits for operational expenses in maintaining secure and efficient banking services.”
Banks can use YOUR money for THEIR expenses.
This is shocking
>Limitations on Liability and Risks
"The bank is not liable for losses beyond insured limits in cases of significant economic events.”
Despite apparent ‘insurances’ (which didn’t count for much in the 2008 banking crisis), the bank disclaims it’s liability for losing (some of) your money
"The bank is not liable for losses beyond insured limits in cases of significant economic events.”
Despite apparent ‘insurances’ (which didn’t count for much in the 2008 banking crisis), the bank disclaims it’s liability for losing (some of) your money
>Potential for Withholding Withdrawals
“The bank reserves the right to impose temporary restrictions on withdrawals to protect the financial integrity of the institution in times of economic instability.”
Your money can be stopped.
You can even be de-banked!
“The bank reserves the right to impose temporary restrictions on withdrawals to protect the financial integrity of the institution in times of economic instability.”
Your money can be stopped.
You can even be de-banked!
>General cause allowing full control of your money:
“By depositing funds, the customer consents to the bank’s standard practices regarding the lending and investment of deposits.”
Maybe you will think twice about ‘lending’ the banks all your money?
And if you’d like to learn how to make more money in 2025, I’m running this Zoom class:
“The 3 Fastest Ways to £10k a Month Recurring Income”
robmoore.live/sunday
I’ll detail the lowest cost, highest speed Cashflow models for 2025
“By depositing funds, the customer consents to the bank’s standard practices regarding the lending and investment of deposits.”
Maybe you will think twice about ‘lending’ the banks all your money?
And if you’d like to learn how to make more money in 2025, I’m running this Zoom class:
“The 3 Fastest Ways to £10k a Month Recurring Income”
robmoore.live/sunday
I’ll detail the lowest cost, highest speed Cashflow models for 2025
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