Enigma
|
To draw in more customers. More customers equal more money to borrow from and thus more loans from the Govt based upon lenders whom are members.
All equals money kept in commissions off of your deposits and bank fees! |
|
Richard C
 |
Competition in the industry for new accounts. |
|
Seandude
|
as a way to promote them |
|
Quarter Midget Mom
|
It's a teaser to get you to open an account. The bank will list anything it "gave" you (over $10, I think) as interest income on your 1098 at the end of the year & you will have to pay taxes on it. |
|
gabykawa
|
Because you wouldn't open an account otherwise.
Something to think about... |
|
moose
|
Cuz they know in the long run they will make their money back. They only need you to make few mistakes. |
|
dailydollars2
|
That is all marketing techniques.
First they pay you and after that they will earn tons of money from you as a deposit. With that money they will invest in various field and earn a lot.
These are all related to banking principles |
|
Mrs Apple
|
Many banks use the money from their customers' account for investments. Also, if you opened a credit card, they assume that you might be paying interest. If you opened a checking account with no direct deposit, they can charge you a monthly fee. |
|
Miss. Chris
|
so that you don;t pay attention to how much more then you got for opening an account you'll be paying for interest. |
|
William
 |
Well most of the time it's a realitive small amount say $25 and depending upon what type of account you have, the bank will make much more than that over time. It's not unlike a department store offering you 20% off your first purchase if you sign up for their credit card. They know that you will probalby continue to buy from them. |
|
Smartass
|
Depends on what it is, there's nothing that's free, they're usually trying to sell you a CD or investment or loan later. |
|
tricycle_pilot
 |
so they can use the money you have on deposit. |
|
Tommy S
|
Cuz you are going to give them your money and they are going to invest it and loan it out and make a whole lot more money for themselves. You could be doing that too, but they are smarter then you. |
|
Harold D
 |
Because they want your money. |
|
Mrs. Nolan
|
because they want you to get one witg them, they really dont pay you they get there money right back at the end of the month it just sounds good |
|
NT
 |
they use your money to invest and make more interest on that so by paying you actual they gain and when you happen to bounce a check or overdraft they get you there |
|
baby_love_marybeth
|
so u will tell people to go their because thats what they do....thats how they get their advertising out there..so more and more will come, almost like bribing people |
|
packinrat
|
They pay now and stick it to ya later.
New accounts opened and funded at an average cost per account of $325 (what a bank would pay another bank for your account) Merger or Buyout.
They are getting you cheep.
Bank accounts 'pay customers to switch'
More bank accounts are offering bonuses and incentives for those seeking to switch, according to a financial search engine.
Michelle Slade of Moneyfacts.co.uk said that the return of a £100 incentive for people who change their account to Halifax is "great news for consumers".
Those who choose to take advantage of the offer will also benefit from "one of the best paying" credit interest bank accounts available, she remarked.
Another provider of bank accounts which offers cash to customers is First Direct, which also promises £100, Moneyfacts data indicates.
However, there are other incentives for consumers available. Alliance & Leicester has a programme where customers can recommend a friend and receive up to £40, while Barclays advertises an interest-free overdraft for 120 days after signing up.
Ms Slade commented: "Current accounts are big business for the banks and this has been made clear by several banks who over the last six months have been offering deals to entice you to switch.
"Not only does it secure them your prime current account, more importantly, it offers the opportunity to cross sell their whole range of other products."
. |
|
QueenKoopa
|
cause in the states there are too many banks..and the banks are not regulated enought like here in canada. |
|
| |
|
Homepage 
Financial
Forum 
Business & Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
