Some of the most profitable companies have been banks and it depends if you work for one or not will depend on what do you think. If you work for the one, generally the employment is secure, the profits are great and the outlook to be employed in the long term is good. If you do not work for a bank, you might think the fees they charge me make all those millions in profits. Is there another way? The answer is maybe and financial technology or fintech companies are being established to answer the question of another way. Rob Carrick column in the Globe and Mail was about this subject.

In the column, Mr. Carrick focused on how one Canadian bank understands e-transfers. E-transfers are done through mobile phone and it is easy way to transfer money from one account to another. Rather than write a cheque, it is simpler to do an Interac e-Transfer.

Linking to dividend paying stocks, Mr. Carrick asks you to look at how your bank or banks you have an investment in to see how they are trying to keep the business at the bank and still enjoy the bank fees. If you bank is doing it well, then that is another reason to keep the investment. If you believe they are not doing e-transfers well, then it is time to look for alternatives.

There are more questions than answers, till the next time – to raising questions.