I recently read a great post by Edith Shaw on how to get a bank credit card without being a banker.
She said she used to work in an IT company and as a result, she has always been good at identifying potential clients before they enter a relationship.
She is not alone in this.
While she is correct in identifying potential bankers, it is important to understand the pitfalls of that approach.
In her post, Shaw explained how she came to be a bank broker.
The post is about how she started her career as a banker, and how her bank account ended up being used to purchase a house.
The point of the post is to make you aware of the pitfalls when you are making a decision about getting a bank account.
What is a Bank Account?
What does a bank do?
The easiest way to answer that question is to look at a bank’s account statements.
In fact, many banks do not even provide that information, as it is proprietary information that is proprietary.
The Federal Reserve Bank of New York (FRBNY) publishes a bank statement, the most complete of which is a monthly statement.
I think it is fair to say that there is no way to accurately answer this question.
So instead of answering this question, I will try to answer the following: What is a bank?
Why do banks exist?
Where do banks get their money?
Who is in charge of the banking system?
How is the banking business conducted?
Is there a fee?
Do you have to have a bank to be considered a bank in the eyes of the federal government?
Are you required to have an account?
Should I be a banker?
Which banks are good and bad?
Can I open a bank loan?
Have I been robbed?
I hope that this answers some of the common questions that come up about banking, but if you have any other questions or would like to share your own banking experiences, feel free to comment below.
Disclaimer: The opinions and content of this blog are solely those of the author and do not necessarily represent the views of, nor should be attributed to, Fidelity Investments or any other of their affiliates.