Even credit unions do this. They may not have as many or as expensive fees as regular commercial banks but they still have fees and certain features aren’t free. If you deposit $100,000 (or more) you’ll find that a lot of those fees get waived, your interest rates will be better, and they will generally treat you better than the peasants with like $5,000 in their savings.
It’s just another advantage that the rich have over every day people. Most of them take these things for granted or don’t think they matter in the slightest. It never occurs to them that regular $3 fees or occasional $25 fees can have a huge impact on the poor and the middle class.
Agreed, but at least that is an upfront rule that technically applies to anyone with X amount of money. This is some back room handshake shit.
I’d be better if Apple / Google lowered their fees based upon how many installs anyone hit. At least it would apply to everyone, not just a couple of billionaires scratching each other’s backs.
Some banks do this *** too. The more money you deposit, the less fees you pay. Because ‘premium customer’ and all this.
Some banks? No. All banks.
Even credit unions do this. They may not have as many or as expensive fees as regular commercial banks but they still have fees and certain features aren’t free. If you deposit $100,000 (or more) you’ll find that a lot of those fees get waived, your interest rates will be better, and they will generally treat you better than the peasants with like $5,000 in their savings.
It’s just another advantage that the rich have over every day people. Most of them take these things for granted or don’t think they matter in the slightest. It never occurs to them that regular $3 fees or occasional $25 fees can have a huge impact on the poor and the middle class.
Full Disclosure: I work for a bank.
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Agreed, but at least that is an upfront rule that technically applies to anyone with X amount of money. This is some back room handshake shit.
I’d be better if Apple / Google lowered their fees based upon how many installs anyone hit. At least it would apply to everyone, not just a couple of billionaires scratching each other’s backs.
Yes. I know a bank where you’re trading fees are lower or even zero, depending on the size of your share portfolio.