Bank Fees

[wajobu]

I have always had a hard time with banks, from them making mistakes and then blaming me with fees to saying that I'm not who I say I am (when someone is there to vouch for me along with photo ID), etc. I can't tell you how many banks I have closed accounts in, including one where a branch manager told me..."...wait, you can't do this..." as I walked out the door with funds from three accounts and the contents of a safe deposit box (they had made a substantial error on an account balance and they wouldn't own up to the mistake...and finally when corrected, I pulled-up stakes).

I can't stand fees at banks, but I understand that some fees are necessary to punish folks who do wrong, but many fees are predatory and eventually force folks that have low balance bank accounts into negative balances and then more fees, escalating the cycle.

Our son (a poor student, literally) just had two charges put on his bank accounts for checking his balance at an out of state ATM (checking to be sure that we wasn't overdrawn before making a purchase). The two fees were actually a pretty large percentage of his available balance. This is a very large national bank that has taken Federal Bailout funds.

Yes, he could check his balance online, but no a computer wasn't available where he was. Yes, he could carry a check register with him or just plain know intuitively what his balance is, but not really all the time.

My point is, is that folks with low balance accounts need this money WAY more than the banks do, and I think that they are just preying on small account holders, waiting, and looking for more opportunities to just make easy money whilst they sit at the government trough taking our tax dollars.

BTW, I called the bank and had a discussion with the branch bank manager about building long term relationships and developing a customer base, by showing folks the way to be thrifty and avoid fees. Some of it fell on deaf ears, but I got the fees for at least today refunded to our son's account.

I swear, I think that some of these banks should just go down the tubes and maybe sooner or later the folks who run them and invent these darned fees will learn. :rolleyes:

[noonereal]

My point is, is that folks with low balance accounts need this money WAY more than the banks do, and I think that they are just preying on small account holders, waiting, and looking for more opportunities to just make easy money whilst they sit at the government trough taking our tax dollars.
:

That's capitalism.

I love the banks that authorize a charge over your limit, pay it then charge you a $39 fee and double your interest.

Or when they make the due date on Sunday so you think you have more time than you have then don't process any payments on Saturday or Sunday.

Or the banks that get scared by the credit crunch (while taking federal funds) and decide that you minimum payment is now doubled.

Or the bank that you have a line of credit with for 10 years that gets itself into trouble,(again takes our taxpayer money) and decides to cancel it without notice even though you have never missed a payment nor paid late and it puts you out of business.

I can start on the cable company. phone company, propane industry or just about any major capitalist business you like.
Just let me know.

[Fast_Eddie]

Big Business is perfect! I want them to control my health care. It's the government you have to look out for. I want all the decision about my well being based on a stock price and a bottom line.

[noonereal]

Me too.

If I don't show a profit, even for one quarter I want to be euthanized. ;)

[Charles]

Well, you can fire your bank, your insurance company, or any damned capitalist out there, and go across the street.

Try to fire the government and see what happens.

Personally, I would think that there is some middle ground out there, except that everyone is too busy pissing and moaning about the other team.

Chas

[merrylander]

My Bell pension is deposited in the Royal Bank in Ottawa (don't worry Uncle Sugar knows all about it) so I write checks on it and I can stipulate the currency. One time a deposit I had made was not registered but I had already written a check thinking it should have been. I had Bank America wire $200 to the account - they charged me $40. Royal Bank discovered the error on the deposit, corrected it, and deposited $100 to my account as an apology. All I can tell you is if you want to do business with a big bank, pick a Canadian one, the big ones here suck. On the other hand a smaller Maryland bank we do business with is great.

[Fast_Eddie]

Well, you can fire your bank, your insurance company, or any damned capitalist out there, and go across the street.

Try to fire the government and see what happens.

Personally, I would think that there is some middle ground out there, except that everyone is too busy pissing and moaning about the other team.

Chas

The problem isn't firing your insurance company. The problem is your insurance company firing you should you happen to actually get sick.

As for firing the government- no need to. If you like the insurance you have, keep it. Don't fire anyone if you don't want to.

You're right, there probably is some middle ground. I was talking to someone about this earlier today. I'll admit I'm frustraited by this thing and probably being a bit unfair and I'll tell you why. It wasn't so long ago that someone else was in charge and we got wrapped up in all kinds of international wars. Some of us weren't so sure this was a good idea. When we said so, we were called Un-American. So we suggested that maybe we can't afford all this nonsense. And we were told we weren't supporting our country.

Now thos people are on the other side of the fence. They're saying "maybe this isn't a good idea" or "maybe we can't afford this". Well, I'm kinda tempted to say TOO DAMNED BAD! Maybe if you had listened to us a few years back we would be more sympathetic to your plight.

And the bit I get REALLY tired of is the "well it has to stop somewhere". Yeah. Right after we get done with the crap YOU wanted, right? And the other one "I didn't think much of Bush either". Well someone sure voted for that clown - twice! Don't give me that crap now!

[noonereal]

Well, you can fire your bank, your insurance company, or any damned capitalist out there, and go across the street.

Try to fire the government and see what happens.

Personally, I would think that there is some middle ground out there, except that everyone is too busy pissing and moaning about the other team.

Chas

You know it's not as easy or simple as you suggest.

[wajobu]

I recently needed to wire transfer some money to our son...I checked the fees (sending and receiving both in the USA)...it would have been over 30% of what I was transferring, so I licked a stamp with a check and a deposit slip.

[Charles]

The problem isn't firing your insurance company. The problem is your insurance company firing you should you happen to actually get sick.

As for firing the government- no need to. If you like the insurance you have, keep it. Don't fire anyone if you don't want to.

You're right, there probably is some middle ground. I was talking to someone about this earlier today. I'll admit I'm frustraited by this thing and probably being a bit unfair and I'll tell you why. It wasn't so long ago that someone else was in charge and we got wrapped up in all kinds of international wars. Some of us weren't so sure this was a good idea. When we said so, we were called Un-American. So we suggested that maybe we can't afford all this nonsense. And we were told we weren't supporting our country.

Now thos people are on the other side of the fence. They're saying "maybe this isn't a good idea" or "maybe we can't afford this". Well, I'm kinda tempted to say TOO DAMNED BAD! Maybe if you had listened to us a few years back we would be more sympathetic to your plight.

And the bit I get REALLY tired of is the "well it has to stop somewhere". Yeah. Right after we get done with the crap YOU wanted, right? And the other one "I didn't think much of Bush either". Well someone sure voted for that clown - twice! Don't give me that crap now!

Ever watch professional wrestling?

You have two fakes out there acting like they're going to kill one another, and a big crowd of nitwits cheering for their favorite fake. Lots of times the nitwits come to blows with one another.

And at the end of the match, the fakes go into the locker room, fix a drink, and split up the money. The game is rigged, and we're all being played for suckers.

Chas

[noonereal]

Ever watch professional wrestling?

You have two fakes out there acting like they're going to kill one another, and a big crowd of nitwits cheering for their favorite fake. Lots of times the nitwits come to blows with one another.

And at the end of the match, the fakes go into the locker room, fix a drink, and split up the money. The game is rigged, and we're all being played for suckers.

Chas

QFT :)

[Sandy G]

Wrestling's fake ?!? Oh, Dear God....Next you'll tell me there ain't no Santa Claus, Tooth Fairy, or Easter Bunny.....

[Fast_Eddie]

Sorry, but that's bull shit. Sure, when you're not running things "they're all crooked". But I was supposed to toe the line when Bush was getting us up to our eye balls in shit that we'll be digging out of for ages.

If I was Un-American then, you're Un-American now. Can't have it both ways. And yes, that's unfair, and yes I should have a drink and calm down.

[soundhound]

banks are far from the only players in the field who take advantage of people who don't have a lot of money. a few other notables include title pawns, check advances, pawn shops, rent-to-own stores, rapid tax refunds, etc. etc.

[Charles]

Sorry, but that's bull shit. Sure, when you're not running things "they're all crooked". But I was supposed to toe the line when Bush was getting us up to our eye balls in shit that we'll be digging out of for ages.

If I was Un-American then, you're Un-American now. Can't have it both ways. And yes, that's unfair, and yes I should have a drink and calm down.

I never said you were Un-American. And if you consider my opinion bullshit, I would like to thank you for your candor.

No offense, but you're not being unfair, you're being rude. But that's fine...it shows that you have convictions. Just don't lose your temper, all it will do is make you miserable...I know from experience.

Have a good evening, Ed

Chas

PS: Now Sandy, I reckon what I ment wus most of them wresslers wus fake...ceptin' fer "Handsome Harley Race". That feller wus the reel deel!!! An' you'en can go on belevin' in th' Eastern Bunnie...feller brings me an' egg ever year.

BTW, you know why the Easter Bunny hides his eggs?

[OvenMaster]

All I can tell you is if you want to do business with a big bank, pick a Canadian one, the big ones here suck. On the other hand a smaller Maryland bank we do business with is great.
I was a CIBC customer for ten years and absolutely loved it. Low fees, great interest paid on a passbook savings account, a Visa card with 15cent transaction fees, access to banking across the country. Not to mention actually being able to pay utility bills at my branch for free!

By comparison, American banks just blow. Big ones treat you like cattle, small ones can't see past town or county lines. And the fees! $6 for a money order and you have to be a customer of the bank! $30-40 for a money order in anything but US funds? Come on!! 0.25% APY interest on a savings account?? What happened to at least matching the rate of inflation?

I miss Canadian banks, I really do.

[Grumpy]

I have closed several accounts and prefer to use only credit unions. Sadly they aint so great anymore.

[merrylander]

I recently needed to wire transfer some money to our son...I checked the fees (sending and receiving both in the USA)...it would have been over 30% of what I was transferring, so I licked a stamp with a check and a deposit slip.


Heck, even international overnight mail is cheaper.

[spasmo55]

I have closed several accounts and prefer to use only credit unions. Sadly they aint so great anymore.

Been with my CU for near 20 yrs, they have been nothing but exceptional in their service to me. Still have them eventhough they are now 1200 miles away.

Bank locally with small town bank, and have no complaints either.

Guess I'm just lucky, or maybe I just don't have enough money to have difficulty managing it.

[JJIII]

"Guess I'm just lucky, or maybe I just don't have enough money to have difficulty managing it."



That's the boat I'm in! :D
__________________

[Sandy G]

Makes 2 of us....I'm so dam broke, I can't pay attention !

[Fast_Eddie]

I never said you were Un-American. And if you consider my opinion bullshit, I would like to thank you for your candor.

No offense, but you're not being unfair, you're being rude. But that's fine...it shows that you have convictions. Just don't lose your temper, all it will do is make you miserable...I know from experience.

Have a good evening, Ed

Good advice- and I chose to take it.

Take care,

Ed