Author shares how to rob your bank

Ryan Lockhart doesn’t need a get-away car or face mask to feel comfortable robbing his bank.

Scott Peckford

Scott Peckford

Ryan Lockhart doesn’t need a get-away car or face mask to feel comfortable robbing his bank.

The Penticton man is coming up to the renewal process on his mortgage and after attending an information session held by Kelowna author Scott Peckford who wrote How to Rob Your Bank, has the tools he needs to perform the deed, legally.

“Everyone should read this book because it gives you tips on how to save money that no one has ever told you or no bank will tell you. Why wouldn’t you want to save money and not give it to the bank?” said Lockhart.

Peckford, who was in Penticton last week and returning on Tuesday for an information session, said the book is a game plan to help people turn the tables on their bank to keep more of their hard earned money. All of this without holding a Master in Economics or the negotiating skills of a used car salesman to get a great deal.

“After taxes, the largest percentage of most Canadians’ income goes into their bank’s coffers. When you add up your car loan, mortgage, insurance and credit card payments it amounts to a lot of money — your money,” he writes in his book. “But don’t despair — you have more power than you think. Remember, banks make their money from you. You have more control, and more room to negotiate than you realize, especially in today’s ultra-competitive environment.”

In How to Rob Your Bank and in the information sessions Peckford, who is the broker/owner of Mortgage Architects in Kelowna, explains how to reduce or avoid payout penalties, negotiate with your bank to save money, how to pay off a 35-year mortgage in as little as 16 years with zero risk along with other tips.

“Canadians are terrible negotiators. We are the type of people who pay whatever we are told. We are very polite and if someone says its five per cent or $500, we just pay it. There are other cultures that are a lot better at negotiating and I think Canadians as a group aren’t. Canadian banks make a lot of profits from us because we don’t know how to ask for a better deal. I educate consumers how to get the best possible deal,” said Peckford.

The author said his book is geared more for the 40-plus crowd, but he has also had a strong turnout as his information sessions from a younger demographic.

“Younger people, at least in my experience, tend to do a better job of researching things on the internet. The people that have been with their bank for 20 years make the false assumption that they have been there for 20 years and they are going to give me a deal, right? It doesn’t work that way. They will try and maximize their profit while they can and the new customer will get the deal and the existing customer pays the rest. It’s not unique to banks, big companies do this all the time,” said Peckford.

He said there are several ways people can minimize their costs by negotiating, restructuring their debt in a certain way and using every legal term within your mortgage contract.

“The banks don’t put on a course how to do this because they would lose a lot of money. In the perfect world, and it doesn’t happen right now, the bank would say here is our rates and fees here is our level of service. Do you want to do business? I think as consumers get more educated they are going to demand lenders to be straight with them,” said Peckford.

On March 22 at noon and at 7 p.m. Peckford will be at the Penticton Trade and Convention Centre for a one-hour free information session. To register call 1-866-553-7526 or email Guests that register will receive a free copy of How to Rob Your Bank.

Just Posted

James Miller, the managing editor at the Penticton Herald, has been voted in for Jake Kimberley’s vacated council seat. (Submitted)
James Miller elected as Penticton city councillor

Penticton also voted yes to allowing up to 25 years for a Skaha Marina contract

The Eyes of the Tigers on the 2021 Beer Run on June 19. (Brennan Phillips - Western News)
Penticton Beer Runners take trip around local beaches and brews

Over 160 people signed up to come back after the 2020 run was cancelled

There was high voter turnout for the first of three advance voting days for the Penticton city by-election.
Penticton city by-election general voting day is today, June 19

737 voters on June 9 in comparison to 2018 general election, which had 1,001 on first day

Police are asking for public assistance in locating Anthony Graham who has been charged with the murders of Kamloops brothers Carlo and Erick Fryer. (RCMP photo)
2 Penticton-area men charged with Kamloops brothers’ double homicide

Brothers Erick and Carlo Fryer were found deceased in May in Naramata

(File photo)
Penticton not holding Canada Day activities out of respect for Indigenous people

Cities across B.C. are cancelling the holiday after an increased spotlight on Canada’s dark history

Marco Mendicino, Minister of Immigration, Refugees and Citizenship during a press conference in Ottawa on Thursday, May 13, 2021. THE CANADIAN PRESS/Sean Kilpatrick
Canada to welcome 45,000 refugees this year, says immigration minister

Canada plans to increase persons admitted from 23,500 to 45,000 and expedite permanent residency applications

Emily Steele holds up a collage of her son, 16-year-old Elijah-Iain Beauregard who was stabbed and killed in June 2019, outside of Kelowna Law Courts on June 18. (Aaron Hemens/Capital News)
Kelowna woman who fatally stabbed Eli Beauregard facing up to 1.5 years of jail time

Her jail sentence would be followed by an additional one to 1.5 years of supervision

Cpl. Scott MacLeod and Police Service Dog Jago. Jago was killed in the line of duty on Thursday, June 17. (RCMP)
Abbotsford police, RCMP grieve 4-year-old service dog killed in line of duty

Jago killed by armed suspect during ‘high-risk’ incident in Alberta

The George Road wildfire near Lytton, B.C., has grown to 250 hectares. (BC Wildfire Service)
B.C. drone sighting halts helicopters fighting 250 hectares of wildfire

‘If a drone collides with firefighting aircraft the consequences could be deadly,’ says BC Wildfire Service

A dose of the Pfizer-BioNTech COVID-19 vaccine is pictured at a vaccination site in Vancouver Thursday, March 11, 2021. THE CANADIAN PRESS/Jonathan Hayward
NACI advice to mix vaccines gets varied reaction from AstraZeneca double-dosers

NACI recommends an mRNA vaccine for all Canadians receiving a second dose of a COVID-19 vaccine

A aerial view shows the debris going into Quesnel Lake caused by a tailings pond breach near the town of Likely, B.C., Tuesday, Aug. 5, 2014. THE CANADIAN PRESS/Jonathan Hayward
Updated tailings code after Mount Polley an improvement: B.C. mines auditor

British Columbia’s chief auditor of mines has found changes to the province’s requirements for tailings storage facilities

Starting in 2022, the Columbia Shuswap Regional District is extending dog control to the entire Electoral Area D. (Stock photo)
Dog control bylaw passes in Shuswap area despite ‘threatening’ emails

CSRD board extending full dog control in Electoral Area D starting next year

A North Vancouver man was arrested Friday and three police officers were injured after a 10-person broke out at English Bay on June 19, 2021. (Youtube/Screen grab)
Man arrested, 3 police injured during 10-person brawl at Vancouver beach

The arrest was captured on video by bystanders, many of whom heckled the officers as they struggled with the handcuffed man

Most Read