4 Ways to Make Money from a BankDec 28, 2020 | 0 Votes by Justo - rate Most people think about banks like a necessary evil, but what if we told you you can actually make money from your bank? In this short article you'll learn important lessons to make it a reality.
Most people think about banks like a necessary evil, but what if we told you you can actually make money from your bank? And we are not talking about those low rate interests from opening a savings account, as this might take decades to even make some noticeable money for you. In this article, we are going to cover some ways you can get actual money from your banks, therefore, if you want some extra cash, you better keep on reading.
Getting bank stocks
This might sound old fashion but better than keeping your money in a bank is actually owning the entity. Well, maybe not like owning the building but you could buy some stocks in a remarkable bank, such as Wells Fargo, Bank of America, Chase Bank or some others, and actually get a profit in the short term. For example, five years ago Wells Fargo stocks worth about $25 per share and the current price right now it’s over the $55 mark.
Just taking a look at that example, we can see over 100% profit in a 5 year's time-frame which is actually pretty amazing, and while your money was growing, you were also getting dividends. What is sweeter than getting extra money and getting pay at the same time?
Hunt for signup bonuses
Bank usually goes out of its way to attract new customers, and one of those methods is to offer cash incentives for people opening new accounts. Just like that, you can make some extra cash and later you close the account if you want. But how can you find these deals? Well, it’s as simple as getting into google maps looking for banks in your city, when you get a list of your local banks you search again but this time with the name of the bank plus sign-up bonus. It’s like magic, as you will get a bank listing of entities that are basically giving money away.
Get a business loan
Getting a loan to start a business it’s like the most old school method to get cash from the bank, as there is some logic behind it and it’s old school because it works indeed. You want to keep an eye for banks that are into Small Business Administration loans, as law compels these entities to concede a portion of these bank loans. For banks, it’s a good bet because they are basically risking a penny to get dollars, therefore, it’s a win-win kind of situation.
Take a look at the foreclosure deals
If you want to get an amazing deal for a real state, you have to take a long hard look at the foreclosure listings in your local bank. Banks have lots of properties they want to get rid of to get their money back, therefore, sometimes we can find killer deals way below market value in these listings.
Making money comes with some smart thinking, as you need to see the endless possibilities in the market and your banks could offer you lots of ways to make money. We encourage you to try this at your local city and tell us in the comment section below.