And charge you a monthly service fee unless you have a job (regular transaction into the account per billing cycle), which isn’t a thing in other places.
Not sure if it’s still a thing, but PNC would charge you a few for their Personal Wallet if you don’t have direct deposit of a certain amount each month.
I mean I can’t believe I’m about to defend a bank, but it makes sense no?
Banks want people to deposit money, rich people have more money. So it tracks that you would offer better incentives to get those people to be your customers.
Sooo, we’ll call me an optimist, I believe people can be, and for the most part ARE better than that.
My concern is that the psychopaths always win. At the top of the companies and countries, we mostly have psychopath leaders. These are people that treat society as a game to be won. To the best of my ability and reasoning, I can’t find a way to avoid that. Socialism, communism, capitalism, etc….
There’s no system they won’t exploit because they all have exploitable holes. Normal people won’t sacrifice what’s needed to be a CEO, because it’s not worth it to them. They value their own life and family more than the power and money. They want enough control to feel like they can run their own life and enough money to eat and sleep. That’s a reasonable life.
But in order to get ahead, you have to want that money and control almost as much as breathing. The system BREEDS psychopaths. They ALL do, because as time goes on, the requirements to get elected or promoted get harder and slimmer and require greater sacrifice. So only the people who care about NOTHING but getting that power will make it through eventually.
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.
I’m gonna go out on a limb and say I think this is done to prevent anticompetitive issues. If Google were to profit off of both its own product (youtube / yt music) and also require its competitors to pay it a % of revenue, it would potentially open them up to more anticompetitive lawsuits.
They don’t do the same for ebooks with Kindle, which is why Amazon has removed the ability to buy them from the app. I’d be surprised if that was the reason for Spotify.
I’m not a big fan of the high fees, but I’m even less of a fan of big developers being treated differently than the little guy.
Some banks do this *** too. The more money you deposit, the less fees you pay. Because ‘premium customer’ and all this.
Yep Chase for instance: over 75k on deposit, no ATM withdrawal fees anywhere! You know, helping the people who need it the least.
And charge you a monthly service fee unless you have a job (regular transaction into the account per billing cycle), which isn’t a thing in other places.
Ripping off poor and jobless people. Yes.
Not sure if it’s still a thing, but PNC would charge you a few for their Personal Wallet if you don’t have direct deposit of a certain amount each month.
I mean I can’t believe I’m about to defend a bank, but it makes sense no?
Banks want people to deposit money, rich people have more money. So it tracks that you would offer better incentives to get those people to be your customers.
Nobody is saying it doesn’t make financial sense, but that it’s a dick move.
capitalism is a compilation of dick moves
Saying corporations are making dick moves under capitalism is like saying when rains things get wet.
Like do we expect anything different at this point.
The world is run by greedy self serving asshole, more news right after these dystopian ads.
Sooo, we’ll call me an optimist, I believe people can be, and for the most part ARE better than that.
My concern is that the psychopaths always win. At the top of the companies and countries, we mostly have psychopath leaders. These are people that treat society as a game to be won. To the best of my ability and reasoning, I can’t find a way to avoid that. Socialism, communism, capitalism, etc….
There’s no system they won’t exploit because they all have exploitable holes. Normal people won’t sacrifice what’s needed to be a CEO, because it’s not worth it to them. They value their own life and family more than the power and money. They want enough control to feel like they can run their own life and enough money to eat and sleep. That’s a reasonable life.
But in order to get ahead, you have to want that money and control almost as much as breathing. The system BREEDS psychopaths. They ALL do, because as time goes on, the requirements to get elected or promoted get harder and slimmer and require greater sacrifice. So only the people who care about NOTHING but getting that power will make it through eventually.
…… and I can’t solve that riddle.
I agree with every word.
I too have no idea how to fix it. It is what it is.
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.
deleted by creator
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.
I’m gonna go out on a limb and say I think this is done to prevent anticompetitive issues. If Google were to profit off of both its own product (youtube / yt music) and also require its competitors to pay it a % of revenue, it would potentially open them up to more anticompetitive lawsuits.
They don’t do the same for ebooks with Kindle, which is why Amazon has removed the ability to buy them from the app. I’d be surprised if that was the reason for Spotify.
That got turned back on for me? Did they change it only for a few markets?