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  • 2 Post By traineeinvestor
  • 1 Post By Cminds
  • 2 Post By Cornmeal
  • 1 Post By freeier

A lesson in dealing with the strongest institutions

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  1. #1

    A lesson in dealing with the strongest institutions

    I've mentioned in a few posts that I stick with major institutions for banking, broking, insurance etc – a case of being more concerned with the security of my savings than squeezing a few pennies in costs out of my budget.

    Retirees in Mexico recently demonstrated why (especially when dealing with non-OECD markets): https://www.bloomberg.com/news/artic...xican-accounts


  2. #2

    Join Date
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    Yeah, no one has ever been screwed over by the big guys.

    UK/HKboy and Kowloon72 like this.

  3. #3

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    I thought this stuff only happens to Bitcoin exchanges....

    traineeinvestor likes this.

  4. #4
    Quote Originally Posted by Cornmeal:
    Yeah, no one has ever been screwed over by the big guys.
    They have but when an employee goes rogue (as happens) the institutions in better regulated markets will be much more likely to make you whole (there are several case studies on point in Hong Kong). Likewise, the bigger the institute, generally the smaller the risk of insolvency.
    jgl and shri like this.

  5. #5

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    Yeah, if you just want security, sure.

    If you want service, flexibility, assistance, returns, then you will need to open your options.


  6. #6

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    so what are the options that provide you with flexibility and more importantly, 'returns' ?


  7. #7

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    Quote Originally Posted by freeier:
    so what are the options that provide you with flexibility and more importantly, 'returns' ?
    These tend to be smaller institutions because there is less need to control and micro-manage everything from the top and they often provide better returns and fee structures because they want your custom more than the bigger institutions.

    The exact options depends what product you are looking for. But for example I got better mortgage rates from smaller banks such as Dah Sing or Chong Hing than HSBC.

  8. #8

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    don't think the talk is about vanilla loan/borrowing.. that part everyone knows, if we are just talking about deposit and loans..
    issues are about investment i think.. custody of assets, availability of products, etc.. these i doubt you can get that much headway with your small banks.

    traineeinvestor likes this.