Money doesn't automatically grow – you need to take risk to get a return. Your checking account takes no risk, so your bank shouldn't really pay much for you to keep your money in your account.
Not sure I fully agree. The bank does not just hold my money. It’s going to turn around and lend some of thst money and make a decent return and especially in a high interest environment. They wouldn’t be able to do that if I didn’t keep my deposit with them. My risk is non existent because of the govt and not because of the banks clean character of protecting my money.
Yes, so they take risk, and they should get a return. You will get your money no matter what, so your return is close to nothing. There's no greed or deception here – it's just market forces. If you want a higher return, buy a bond like the bank.
quietthrow|3 years ago
landa|3 years ago