US News With banks, loyalty does not pay!
419 games: Männel becomes Aues record player
A historic changing of the guard has been announced at FC Erzgebirge Aue: captain and goalkeeper Martin Männel will play his 419th game for the violets and become the sole record player. © imago images Aues goalkeeper Matin Männel becomes the record player at FC Erzgebirge. On Friday at 6.30 pm, Männel will be at the top of the history books in his 419th competitive game for Aue. Then the goalkeeper will overtake the former midfielder Holger Erler (418 games).
It has been a long time since the spirit of competition has been blowing in an increasingly "cartelized" banking world. And that it appears, at least on the surface, that loyalty does not pay off. This is the opinion of MIichel Guillaud, president of the association for the defense of banking consumers France Conso Banque.
For those who may doubt it, remember that barely half a dozen brands share the big jackpot in interest and commissions of all kinds. And it is not the announced deaths of Crédit du Nord and HSBC bank that will improve this landscape where we already count the pure and simple disappearances of Crédit foncier and Crédit Immobilier de France, two major brands there are still not much time. As a result, the bank mobility rate, that is to say the number of customers who change banks, is in France one of the lowest in Europe. According to the statement by the France Conso Banque association, barely 1.3 million customers would have changed banks in 2019, i.e. a percentage of 2.9%. A rate that puts us behind our European neighbors: nearly 10% in Germany and the Netherlands, 14% in Spain…
Vantik-Card: This fintech pays you one percent on all card transactions
The Berlin fintech Vantik wants to make it easier for customers to invest in old-age provision. Thanks to a Mastercard debit card with one percent cashback on every transaction, you can save on the side. © Vantik Til Klein, founder of Vantik. With the Vantik and the Vantik-Card, a start-up has gone onto the market in Berlin that is dedicated to the Retirement Provision .
In this context, some people expected a lot from the Macron law of 6 February 2017 and its article 43 giving individuals the possibility of changing bank free of charge thanks to an automated service. But why not jostle the 42% of the population who have never changed bank or the 57% of those under 25 who keep their parents' bank? Because, alongside these diehards who, out of loyalty or inertia, have chosen to remain loyal to their bank, 20% would like to see elsewhere if the grass is not greener ... But they are not getting there.
In question, a reduced mobility to the only current account and the costs of transfer of the prohibitive savings products - count so a hundred euros for a housing savings plan - or even an impossible transfer for the Livret A. In the same vein, the legalization, since 2018, of domiciliation clauses for borrowers, previously condemned by case law, sends a very bad signal to those who would like to try the adventure outside their banking establishments. Therefore, in this weakly competitive world, why should banks be keen to treat their current customers well? We must play the competition!
“Stablecoin without stability”: Tether and Bitfinex pay a fine of 18.5 million dollars
The stablecoin Tether and the crypto exchange Bitfinex have to pay a fine of 18.5 million US dollars and are no longer allowed to trade in New York. A lawsuit from 2019 is thus settled. © Tether Tether. In April 2019, New York Attorney General Letitia James filed a lawsuit against the company iFinex . iFinex operates both the Bitfinex crypto exchange and Tether Limited, publisher of the stablecoin Tether.
For this, we can cite at least two examples, when taking out a loan or after opening an account. Banks practice the policy of "drawers" scales, which, in terms of loans, fluctuate not according to the risk but according to the origin of the client: old clients, clients in renegotiation, first-time buyers, new buyers. clients. To each his own scale! The new customers, in this logic, being of course the best served. Even more speaking: when opening an account, you can apply for practically anything you want, such as exemption from account maintenance fees, a free bank card, an authorized overdraft, etc. And we must take advantage of it, because after the first year, the bank coach risks turning into a pumpkin and tariff cuts are as rare as a tax cut.
By MIichel Guillaud, president of the association for the defense of banking consumers France Conso Banque (franceconsobanque.fr)
Venezuela: Maduro accused of illegally selling gold, the Emirates would be the "nerve center" of trafficking .
© Pixabay Venezuela: Maduro accused of illegally selling gold, the Emirates would be the "nerve center" of trafficking The Venezuelan opposition has unveiled the findings of an investigation into the sale by Caracas of 300 tonnes of gold since 2014, with the alleged involvement of Russia, Mali and the United Arab Emirates, which are said to be "the center nervous "about this traffic. Nicolas Maduro would have obtained "more than a billion euros" in 2020 thanks to these sales.