http://www.universalwealthcreation.com/wealthcreation/wealth-creation/convenience-banking-children-and-wealth-creation/ Making Money and Creating Wealth Fri, 19 Mar 2010 06:04:39 +0000 http://wordpress.org/?v=2.7.1 hourly 1 http://www.universalwealthcreation.com/wealthcreation/wealth-creation/convenience-banking-children-and-wealth-creation/comment-page-1/#comment-1363 Baryy Masters Sun, 15 Feb 2009 17:32:35 +0000 http://www.universalwealthcreation.com/wealthcreation/wealth-creation/convenience-banking-children-and-wealth-creation/#comment-1363 I know a thing or two about this subject, since I work in collections and my gf teaches money and life skills to young adults. You are not wrong, there is a shortage of information and understanding, but . . . Don't forget that "banks" in order to improve their yield are starting to target higher end customers and even refusing accounts to some people. Some banks even require a certain credit score just to open an account. Clients who open and close accounts often, move often, or have a lot of bounced checks are an expense the major banks would like to avoid. The "self banking" sometimes know they are getting ripped off, but they also recall the holds and limits a regular bank put on their account. Don't be too quick to judge, as time passes their will be a two tier banking system, as "traditional banks" become more like Macy's and Convenience Banking becomes like Target or K-Mart. I know a thing or two about this subject, since I work in collections and my gf teaches money and life skills to young adults. You are not wrong, there is a shortage of information and understanding, but . . . Don’t forget that “banks” in order to improve their yield are starting to target higher end customers and even refusing accounts to some people. Some banks even require a certain credit score just to open an account. Clients who open and close accounts often, move often, or have a lot of bounced checks are an expense the major banks would like to avoid. The “self banking” sometimes know they are getting ripped off, but they also recall the holds and limits a regular bank put on their account. Don’t be too quick to judge, as time passes their will be a two tier banking system, as “traditional banks” become more like Macy’s and Convenience Banking becomes like Target or K-Mart.

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