Quote:
Originally Posted by PDLM
Just out of curiosity, how would you like the banks to make a profit from you? Or do you think they should be charities?
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PDLM do you work for a bank?
Not sure in Hong Kong but in Australia the transaction fees represent 1% of the overall profit, the average profitability of banks in oz is around 12% per year. In the UK which generally has lower transaction fees the profitability is 20 percent. The move in Australia is to increase the percentage of profit obtained from transaction fees as it is low risk i.e. less likelyhood of the banks messing up.
Definitely not charities they consistently increase there profit year to year, so good if you work in banking
As for the original post I am with HSBC and have a power advantage account (credit card optional) not a major stress going into banks as I tend to do everything over the internet. The only hassle is accounts you want to do transactions with on the internet have to be set up individually which means a trip into bank but somehow always can directed to a different window for this which never has a long queue. The only other thing is that annoying number generator cant beieve this makes the security that much better just logging on longer.