this post was submitted on 15 Mar 2024
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Hidden cameras capture bank employees misleading customers, pushing products that help sales targets (www.cbc.ca)
submitted 6 months ago by [email protected] to c/[email protected]
17 comments fedilink hide all child comments
 

AKA "surprisingly, oligopolies are there to make money and care about their customers just enough not to pee on their faces while someone else is looking".

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[–] [email protected] 11 points 6 months ago (1 children)

I'm lucky to have a lot of savings. I regularly get calls and emails from Scotiabank telling me to buy mutual funds and increase my credit limit. I always figured that if someone contacts you saying they have an offer that will make you a lot of money, they're lying. CBC seems to confirm that.

[–] [email protected] 9 points 6 months ago (1 children)

If you have a notable amount in savings, investing it in some way is generally a good idea, but I agree with not trusting your bank to steer you right.

[–] [email protected] 7 points 6 months ago

I do. It's in GICs at 5.25% interest. The bank wants me to switch it to mutual funds with a 2% management fee.