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this post was submitted on 20 Feb 2026
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Europe
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Sounds like a good idea to get away from mastercard and visa and the like. They are beholden to the US and will continue to abuse their market position for their callous goals. Not that the EU is a trustworthy player but they will at least have their own representatives trying to get over on them and not American ones.
Banks = shit, not ALL but most.. right now we should be getting away from US, but wouldn't be surprised when AI bubble pops we suffer repercussions because our banks also had money there
Plus. What's this about fees? There shouldn't be fees
I couldn't agree more. I don't know much about European banks, but the American ones are some of the worst companies in the world, since 1999 when they cancelled the depression era rules that prevented them from operating nationally and mixing investment and commerical banks, and importantly where they cancelled a provision that the writer of a security, like a mortgage, had to hold a percentage of that security until maturity, to give them incentive to write good loans and not fob them off on suckers.
It worked, until they cancelled it. Big banks gouge us with fees, they try to overdraft us. I always canceled overdraft protection and they reinsitute it every year without explicitly telling you. If you depositing money, then made withdrawals, they would not clear your check, for the purposes of charging you multiple overdraft fees after 2008. Like normally a paycheck would be available at least party right away, but they were maximizing fee revenue, and made billions extra in fees after 2008 when our tax dollars bailed them out for their perversions of the market.
I use credit unions, I can't overstate how much I hate big banks, for so many reasons.
American banks are the worst in the world. Don't get me wrong, it's not some utopia here in the EU. Banks here will pull as much bullshit as they're legally allowed to, but the difference is there's more consumer protection.
And in General more regulations to stop banks from going completely crazy.
I think this is quite a naive perspective on banks. You don't want them making investments, yet you also don't want to pay fees? How is that supposed to work? Do you want to pay for your banking services directly?
I don't want them making high investments on foreign assets, don't expose too much, invest within europe, why not invest in infrastructure building or maintenance? It's infrastructure so it's needed.. ROI is low? Probably because there's less risk
Surely they should be doing a bit of all of that, that's how you reduce risk with investments.
Yes, lend money to people to buy houses or start businesses.. everything has risk but don't expose too much to the inflated US market
Thinking that banks need to collect a fee for small money transfers it's not seeing how big banks really are
Correct.