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What if your Bank was like HBD savings ? by thetimetravelerz

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· @thetimetravelerz ·
$19.21
What if your Bank was like HBD savings ?
![image.png](https://i.imgur.com/mrPc6Q2.png)
[source](https://imgflip.com/memegenerator/Two-Buttons)

## Is it time for banking to move from KYC to KYB ?
![image.png](https://i.imgur.com/N1cbnHE.png)
[source](https://pixabay.com/vectors/bank-money-finance-988164/)
The joke goes that to get money from a bank you have to prove that you do not need it and only then would the bank give you the money as loan.
## Why use Joke & Bank in the same line ?
The way banks are treating people is becoming a joke. First you have to furnish an identity, give proof of residence and even show income documents to prove that you are worthy to hold a bank account.
It is not uncommon to be knowing a existing bank customer who would introduce you to the bank.
Then the bank lets you open an account. On top of that you have to maintain a minimum balance and if your balance goes below that then you lose money as the bank imposes a penalty.
After doing all this the bank has your money.
## What does the bank do with your money ?
It lends it out its own discretion. Do you know to whom the bank has given your  money? On a macro level you can read its financial report.
However a lot more happens in a banks operation that fails the due diligence. I am not saying that a bank does a fraud or is not careful with your money.
However there is a lot less transparency in the banks operations then should be.
You are liable to pay penalties if you do not pay the money back on time. Are banks not equally liable to maintain the same level of transparency.
Often the common man understand little in terms of what happens with the bank.
Or why the banks fail .
Yet there is little protection beyond a point. Somehow it is the retail guy who  has to bear the brunt if a bank or banking system fails.
## There is a lot more at stake then just your money

If there is a data breach or an exploit the retail customer suffers.
If the banks employee leaves and sells the client database to a third party it results in numerous calls to the end user trying to sell him all kinds of products from credit card, loans, mortgages and what not.
It is not the clients fault that someone at the bank sold the data and there is zero accountability of the bank.
The bank takes zero responsibility of the customers data and no one even talks of such things. No one bats an eyelid at the lack of answerability.
We the customers suffer as we lose our precious time and have to deal with all the pesky calls.
Yet it is the customer of the bank who gets a raw deal.
## Is it time to question the way the bank works
To see that the banks work according to the central bank guidelines is important but how much of it is only on paper as what they do with the resources they hold is entirely upto the bank.
Also they need to be made accountable for any data breaches and bound legally to compensate if a data breach happens or a client data is shared without his consent.

## Comparing Hive wallet to a bank ?
If you do that then would find holding your hbd in saving earns you a handsome 20% return annually and not to mention creating an account on Hive is free and the interest earing wallet comes no minimum balance requirements.




Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@thetimetravelerz/what-if-your-bank-was-like-hbd-savings)
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vote details (337)
@bhattg ·
$0.02
i will still invest in hbd 😅. bank se bharosa uthta jara hai, chalo 25 % wha bhe daal denge 🤣
👍  
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@thetimetravelerz ·
yes bhai sare ek jagah rakhna theek nahin chahe woh crypto ho ya fiat. Diversification is better.
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@bhattg ·
Sahe kaha sir ji 🤗
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@holovision.cash ·
!LOL
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@lolzbot ·
<div class='pull-right'><center><img src="https://lolztoken.com/lolz.png"><br><a href="https://lolztoken.com">lolztoken.com</a></p><br><br><br><br></center></div><p><center><strong>I really love video games where you go for an deep sea adventuring.<br>They're just so immersive.</strong><br><sub>Credit: <a href="https://peakd.com/@reddit">reddit</a></sub><br>@thetimetravelerz, I sent you an <a href="https://lolztoken.com">$LOLZ</a> on behalf of @holovision.cash<br><br>(10/10)<br>Use the <strong>!LOL</strong> or <strong>!LOLZ</strong> command to share a joke and an <strong>$LOLZ</strong></center></p>
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@india-leo ·
$0.01
Indiaunited Curation 1679625010529
This post has been manually curated by @bhattg from Indiaunited community. Join us on our [Discord Server](https://discord.gg/bGmS2tE). 

Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators. 

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@thetimetravelerz ·
Thanks @india-leo & @bhattg bhai for the curation
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@indiaunited ·
$0.01
Indiaunited Curation 1679625005441
This post has been manually curated by @bhattg from Indiaunited community. Join us on our [Discord Server](https://discord.gg/bGmS2tE). 

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vote details (1)
@thetimetravelerz ·
Thanks @indiaunited &  @bhattg bhai for the curation
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@inuke ·
$0.02
Blockchain and Banking ke beech ek bridge aa jaye aur crypto ko legal tender maan le. Phir dekhna Banks kaise kaise offers le kar aate hain. 🤣
Jis tarah CC push karte hain ussi tarah crypto push karenge. Obviously, with some hidden agenda. 🤣🤣

Tab bhi bank par bharosa naa ho. :-P
👍  
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vote details (1)
@thetimetravelerz · (edited)
very true Bhai
Bank naye naye tareeke nikal hi lete hain fasane ke aur pareshan karne ke
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@thetimetravelerz ·
Ek aur baat bhai saare paise kabhi ek jagah na lagayein fraud bank mein bhi ho sakta hai aur crypto mein bhi
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@poshthreads ·
https://leofinance.io/threads/@thetimetravelerz/re-leothreads-qpjry3na
<sub> The rewards earned on this comment will go directly to the people ( thetimetravelerz ) sharing the post on LeoThreads,LikeTu,dBuzz.</sub>
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