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The hidden method banks use to get money from you

The hidden method banks use to get money from you

However, his real interest is only one: EARN MONEY. And for that objective to be met, it is often necessary for you to lose money.

But let's take a concrete example of hidden theft: fixed deadlines.

This instrument, which is the most common investment alternative among Argentines, allows you to obtain a known interest at the beginning of the operation. In this way, you can anticipate what your returns will be at the end of the term.

Note well that I used the word performance and not "profit" because I assure you that this is what you will not have. In fact, on the contrary, you are going to lose a lot of money.

To better graph it, I randomly chose 5 banks that offer the fixed-term service: Banco de la Nación Argentina, Banco Santander Río, Banco Macro, Banco Piano and, finally, Banco Supervielle.

Each of these offers a different annual interest rate *:

  • National Bank: 29.5%
  • Banco Santander Río: 25.0%
  • Macro Bank: 27.6%
  • Piano Bank: 30.0%
  • Banco Supervielle: 29.0%

* Data as of May 19, 2016

These banks, like so many others in the country, offer annual interest rates of between 25% and 30%.

However, the curious thing - and this is where the trick lies - is that none of the Argentine banks offers yields greater than or equal to the percentage of inflation estimated for this year.

According to the price report of the City of Buenos Aires, the rise in the cost of living in April was 6.5% and an interannual inflation of 40% is projected.

Therefore, there is a margin of at least 10% between the fixed-term interest rate and annual inflation.

What I mean by this is that if, for example, you deposited 100,000 pesos in a fixed term, at the end of one year you would receive 130,000 pesos. But if you take into account that inflation is 40%, your 130 thousand pesos would be worth much less than the 100 thousand pesos you deposited a year ago.

That is to say that not only would you not make money, but you would even be losing a lot. But also, you gave up using that money for 365 days without even making a profit.

And who gets that profit margin? The banks.

Because not only do they return less real money than you previously deposited, but they also use your money to make loans to other companies or people like you with usurious interests that are very difficult to pay.

Banks, like the casino, never lose. The one who loses is you, even when you think you are winning.

Global Investor


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