Keeping the banks on their toes

Kelowna mortgage broker Scott Peckford has a secondary stream of income most people wouldn’t talk about—he’s a bank robber.

Kelowna mortgage broker Scott Peckford has a secondary stream of income most people wouldn’t talk about—he’s a bank robber.

Well, he’s written a book called How To Rob Your Bank and over the course of various speaking engagements, where visitors have lapped up the tips he’s dishing out, sales have really picked up.

One more thing, he’s not teaching people to be the type of bank robber that gets thrown in the clink.

He just wants people to wake up and be aware of how their relationship with their bank could be working against them.

“The first thing I tell people, is never marry your bank—dating them is cheaper,” he said, offering a sneak peak into the pages of his self-published book.

“If you put lots of products and services in one institution you may think you’ll get a better deal, but that’s not always the case.”

In fact, a recent study on banking in Canada said that the highest income earners in the country, actually pay the highest interest rates on varying forms of loans.

“They just stay with their institutions and never check,” said Peckford, adding that first time loans come with less interest, going through a mortgage broker tends to be cheaper and people in small towns get a worse deal.

All in all, it doesn’t seem fair, he said, pointing out that’s the motivation behind penning the 94-page book and touring. He wants consumers to be more proactive, because big money is being lost.

“If a grocery store gave the person in front of you a $2 discount on their milk because they were new, and told you you had to pay the regular rate, you’d be angry,” he pointed out. “But with banks people just take it.”

Ultimately credit cards and financial institutions   take the biggest chunk of consumers’ money, so it’s time there was some transparency.

To learn more about what How to Rob Your Bank, go to robyourbank.com or register for Peckford’s free tutorial that will take place June 14, at the Ramada Hotel.

There’s an afternoon and an evening seminar, but seating is limited so booking ahead is key.

To do that call Sarah Esch at 250-762-7526.

 

Kelowna Capital News