Comments by "Matthew Nirenberg" (@matthewnirenberg) on "Still Trusting The Bank With Your Money?! (WATCH THIS!)" video.

  1. Just make sure that the guaranteed amount is per account, not per combined accounts. Some banks will look at all accounts in your name and consider them as one when it comes to the guaranteed amount.
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  2. The problem arises when you have to pay the government and they only permit the payment to come from a bank account. In Australia, taxes, council rates, licences, etc. must all come from a bank account (only licences can be paid with a credit card or from a bank account).
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  3. Sounds like the bank is secretly using "sucker scores". Basically because the amount asked for is tiny, the fee's on it are tiny as the person is likely very able to pay it back on time. Also because the person isn't likely to be living in huge debt and forever rolling one debt over to another, the total fees the bank will get from them are tiny. Thus the "sucker score" (a value between 0 and 1) will be close to zero or zero. "Sucker Scores" get used by multiplying them by the individuals credit score. If the result is under a certain threshold or 0 then the bank will reject them. It started in the US, spread to Australia and now is spreading everywhere. The days of responsible people being rewarded for doing the right thing are gone.
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