HSBC Powervantage Costs

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  1. #31

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    Something to ponder...

    go into any financial centre in the world, HK, London, NY, Toronto etc and look at the downtown business core. Who owns the majority of the big office towers? Banks! And gee where do banks get their money from? From the collective wealth of their individual depositors...that means you. So banks can stop all their whining and complaining about costs, thank you very much.


  2. #32

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    Er, I don't think so. Can you produce any evidence of that? I would guess that HSBC makes far more from commercial banking, IPO underwriting and stuff like that than it does from retail customers. And certainly something like an 80/20 rule applies - of the money they do make from retail the vast majority of it will come from a small minority of their bigger customers.


  3. #33

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    >> Who owns the majority of the big office towers

    In HK -- Hong Kong Land is still the largest owner in Central.


  4. #34

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    so PDLM what is your suggestion, that banks just turn the masses away and tell us to go stuff it!...under our mattresses?


  5. #35

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    unfortunately, u do not understand the basic of banking.

    when a bank collects deposit, the only thing they are allowed to do with the deposit is to invest in cash assets, i.e. by lending it out into the market or to the loan/business borrowers.

    they are only allowed to purchase property with money that they have made thru the spreads of interest they charge clients over the years.


  6. #36

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    Quote Originally Posted by sylvesterjay:
    so PDLM what is your suggestion, that banks just turn the masses away and tell us to go stuff it!...under our mattresses?
    No - they should (if they wish to have your business, and they should be under no obligation to so wish) offer you a service at a fair price which reflects the cost of them providing that service to you plus a reasonable margin.

    That seems to me to be what they are doing.

  7. #37

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    Freeier I do understand the basics of banking...that was my point! For the piddly dribble of interest they pay out to their depositors, they are making hundreds of millions on the spread...so they should stop their bloody whining

    PDLM, what is a reasonable margin on HK$200000? as above, they are going to pay out almost nothing in interest and make a fortune on the spread...so why should i leave that kind of cash in a low interest account for them to bend me over, when I can put it into the market myself and earn a decent return. My original point is the bank is doing all it can to take advantage of naive depositors by screwing them royally by getting them to leave huge sums of cash in a powervantage account. Shame on them.


  8. #38

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    so on the same basis msft shld be giving all of use free windows because they have zillions of dollars and they don' t need the 100USD each of us pays, petrol company shld subsidize our petrol because each tank are just 500hkd and they have zillions hidden in their swiss account, and even government shld stop collecting tax cos they can just print Notes for free and what's that 1/2k hkd per person pays.

    well. go to a different bank.
    that's what free market capitalism is all about.


  9. #39

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    Petrol is a good point. They keep pleading "oh the instability in the mideast is driving up the cost" yet at the same time these bastids are recording record breaking profits. how much is enough? Do banks really need billions and billions in profits, or can they provide more to their customers and shave a little off their already well padded bottom lines? As for going elsewhere, it sounds like thats what customers will do...go to where their business is appreciated and they are getting good value for their fees.


  10. #40

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    then we are back to the theory of capitalism versus communism.. which is better ?


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