When banks merge, you pay

Bank mergers mean less competition, which can lead to higher fees.

Category:

News & Politics

Tags:

• bank
• mergers
• competition
• fees
• bankrate
• saving
• economy
• banking

[UniqueWhat]

Hah, yeaaah, thats how it works.

Sure its cheaper, but the executive that got the merger, or cut the staff or trimmed the bureaucracy will get a large bonus, and the management team will get a nice raise, and you will not see any of that savings.

[sweetchuckaluck]

Hello ! My thought is that mergers actually save

in the millions annually because they cut bureaucracy in half, advertising in half, staff by a good number and I'm sure many other reasons. So why would a bank want people opposed to mergers? My first guess is that they cannot merge and take advantage of

all these benefits and don't want to be left behind when their merging competitors outprovide them with customer services. I feel a bit jaded against most bank agendas that I sense forgive me.

[sphinxrising58]

Our bank sucks, as they charge you for every little thing you can think of, & in return, they give you barely any real worth while interest on the money you hae deposited there.

[detroitmadman]

cont'd: or, questionable service and always trying to "trick" you into doing something bad for yourself (dishonest) like Charter One. I've seen what-all they do to the people.

[detroitmadman]

my bank was NBD, then Bank1, now Chase, but it's still good, no phoney baloney "deals" like the other banks...by the way, I've never bounced a check or overextended with my debit card. Seems to me like ATM fees were always around $1.50 or $2.00. Some of these other banks are really into stealing you from your current bank, and then you find out they don't offer certain services, thus making them a non-fully-functioning bank: no VISA gift cards (only AmEx) or no gift card at all, for example.

[XHighWarlordGigglesX]

So... dont bounce checks...pay loan payments... and be normal... and you wont suffer that much...

[sphinxrising58]

Bank mergers are hardly new, as look in any town or city, & you will see a fairly large variety of former bank buildings that are either being used for something else, or sit vacant.