Of savings and interest .......
Me: "So as a customer, how do I benefit from having a savings account, apart from the interest rate?"
Bank representative: "Well, it's meant to encourage you to save ...."
Me: "That's not needed - I'm pretty good at saving."
BR: "Then it's mainly the interest ...."
Me: "Which is 0.05%, right? (he nods) So for 100 dollars, I get 5 cents, and for 10,000 dollars I get 5 dollars- I could save more by skipping one beer".
BR (laughing): "That's a good way of putting it. Well, this plan doesn't require a minimum balance, I could move you to another which does require a minimum balance, but has a higher interest rate - 0.1%."
Me (raising eyebrows): "Two beers?"
(both laugh, I come away humming "Don't you know, talking about interest, sounds abysmal" to the tune of Tracy Chapman's great song, and then my thoughts turn to the middle east.)
Bank representative: "Well, it's meant to encourage you to save ...."
Me: "That's not needed - I'm pretty good at saving."
BR: "Then it's mainly the interest ...."
Me: "Which is 0.05%, right? (he nods) So for 100 dollars, I get 5 cents, and for 10,000 dollars I get 5 dollars- I could save more by skipping one beer".
BR (laughing): "That's a good way of putting it. Well, this plan doesn't require a minimum balance, I could move you to another which does require a minimum balance, but has a higher interest rate - 0.1%."
Me (raising eyebrows): "Two beers?"
(both laugh, I come away humming "Don't you know, talking about interest, sounds abysmal" to the tune of Tracy Chapman's great song, and then my thoughts turn to the middle east.)
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