Everyone should have a bank account, in fact several.<quoted text>
People of wealth here, and even us middle class, dont even bother with banks. Thats what brokerage houses and hedge funds are for.
Investment in the local and international markets can be made through banks.
The added benefit of being a big investor in banks like Chase Manhattan, Goldman Sachs, ICICI, Bank of Tokyo, ANZ, Deutsche Bank and others is easy access to platinum, gold and Forex. I buy substantial amounts of precious metals and all my foreign currency only through banks especially the foreign ones or through ICICI.
I don't trust private brokers who're fronts for underworld for certain reasons. I've had bad experiences with them including blackmail and threats when huge amounts are involved....
A big investor in banks can garner several benefits from the banks that would not have been available otherwise and banks here help big time investors to conceal huge amounts of wealth so that it does not attract undue attention from tax authorities.
At a deeper level, however, there's a mutual understanding between the higher ups in elite banking circles, politicians and IT officials and so the rich clients benefit....