The Problem with Banks

I will beat Bank Mortgage Rates Guaranteed

So, after talking with some friends and family, you decide, I’ll do it!  

You call up your bank and make an appointment. A week later you are now sitting in front of yet another new bank rep, because your person has either now moved on, or been promoted, and the relationship you had built with them is no longer there.

But who cares?

You’ve been with the same bank for most of your life. You want to stay loyal to them and you’d rather meet a new bank rep because your loyalty must count for something, right?

“I know I will get the lowest rate because they will have my best interests at heart…” you might say or…

“They will treat me with the respect I deserve because I have been loyal to them. They owe me at least that!”

And you are right. 

They do owe you at least the courtesy of being straight with you, to show you how the buying process works, to be there for you when you need them.

And depending on who you are talking to, sometimes they are, and sometimes they are not.


Because of the positions that these bank reps have? Is to serve only one thing.

The bank.

Now don’t get me wrong. 

I am NOT saying that bank reps are bad and evil people and I am NOT saying that they don’t have your best interests at heart, what I AM saying is, they have quotas to meet.

Every quarter they have a certain amount of sales they need to make, and they are in constant competition with each other and are given special bonuses when they outperform their colleagues.

And to be clear, I am also NOT saying that making money is a bad thing either. Banks are here to serve a purpose.  

We WANT them to make money, don’t we?

Could you imagine going into your bank to get a car loan and they say “Sorry, we don’t have any money today but come back next week, we have a new shipment of 50’s coming in!”.

No, we want them to have money…

In the end, they may not have your best interests at heart, because truthfully, you’re just another number.

I have seen it…

I have been at the end of the year-end rallies, with huge screens showing their quarterly results, in the BILLIONS.

And I mean hundreds of billions of dollars in 3 months, for just ONE bank, for one small sector, in one small part of the bank district.

And at one point I remember looking up at these results, these HUGE astronomical numbers, feeling…really…really…small…

How do I know all this?