Banks and your checking account...

phobicsquirrel

xmacro

Yup, another f*ck up by Congress, who never wants to hear there's consequences for every action, or that it's not possible to wave a magic wand and fix everything

kuzi16

fla-gypsy

banks had plenty of dirty tricks to stick you with an overdraft charge but letting Congress get involved in it will only cost you more.

kuzi16

phobicsquirrel

kuzi16

phobicsquirrel

kuzi16

Vulchor

Nice try Squirrel, but just give it up man...Laker and I have packed it in, not worth it---at least not regularly. Sometimes we just have to remember what Vanderbilt said.. "The public be damned"-----more people feel this way than you want to believe. Im out.

PuroFreak

This problem goes even deeper than fees from overdrafts being used as a source of income to the banks. It isn't so much a source of income, but another way to recoup some of the money they have lost from people who spend more money than they have in the bank, then never pay the bank back. Pheebs, you mentioned how these fees weren't common years ago, but years ago more people paid their bills and budgeted their money. Lack of personal responsibility is a growing epidemic in this country and has been for decades. This has lead to banks having to try other ways to make money just to survive. Then you throw the government in the mix telling them they must make risky loans because "everyone deserves to own their own home," and they are having to find more ways to make up for money they are losing daily... Now the government has taken away that outlet and they are finding other ways. If the government would step out of the way and let banks take care of business and actually remain a profitable business that answers to the customers, maybe some of that personal responsibility would start coming back.

Joeyjoe21_8

So you always see those advertising ads people saying check into cash is cheeper then bank accounts...bs...cuz what do you do with ur check when you cash it...u spend it, lose it, etc...as well, they charge a fee based on percent of ur check size... you can get free checking accounts by using their bill service and bam...free...I have wells fargo...free...completely not one dollar goes to fees...I couldnt be happier with them either...if anything goes wrong, i call them and its settled instantly

phobicsquirrel

PuroFreak:

This problem goes even deeper than fees from overdrafts being used as a source of income to the banks. It isn't so much a source of income, but another way to recoup some of the money they have lost from people who spend more money than they have in the bank, then never pay the bank back. Pheebs, you mentioned how these fees weren't common years ago, but years ago more people paid their bills and budgeted their money. Lack of personal responsibility is a growing epidemic in this country and has been for decades. This has lead to banks having to try other ways to make money just to survive. Then you throw the government in the mix telling them they must make risky loans because "everyone deserves to own their own home," and they are having to find more ways to make up for money they are losing daily... Now the government has taken away that outlet and they are finding other ways. If the government would step out of the way and let banks take care of business and actually remain a profitable business that answers to the customers, maybe some of that personal responsibility would start coming back.

Yeah I get it, and I know what you mean. But look at our culture too? I mean I can barely remember a time when i didn't see credit cards. Things these days are touted as if you can get something now then pay later. Which is cool, right? Though think of the climate. I mean 40 years ago a lot of people had good paying jobs, had savings and yes were more responsible. But now jobs pay a lot less, people work more, and they pay a lot more for things. One of the biggest groups that get hit with these fees are the 20 somethings. Why, well because of school and just starting out. School anymore is just a stick in the butt. I mean it costs so much, many go so deep in debt they'll probably never pay it off. I know, responsibility is what we are after but when your country doesn't do it, the biggest corporations (banks) don't have to worry about it, why does poor jane and sam have to be roasted and screwed by the very institutions that make money off of ripping people off (our taxes)? I Mean no where is this stuff being taught any more.

gmill880

gmill880

One thing I do agree with though is that even though the penalties were spelled out in the paperwork you signed and agreed to , the banks did get a little over zealous with the amounts they would charge for overdrafts and things of that nature.

Joeyjoe21_8

well another thing...when you have a checking account, you can have the bank decline a charge if there isnt funds in the account....for instance, If I wanted a 30 dollar cigar and I am out partying and happen to buy one, and when I swiped my card I only had 25 bucks in the checkings, The bank can decline the card therefore never having a overdraft fee....Wells fargo does it if you want them to, you just have to call them.

cabinetmaker

Joeyjoe21_8:

well another thing...when you have a checking account, you can have the bank decline a charge if there isnt funds in the account....for instance, If I wanted a 30 dollar cigar and I am out partying and happen to buy one, and when I swiped my card I only had 25 bucks in the checkings, The bank can decline the card therefore never having a overdraft fee....Wells fargo does it if you want them to, you just have to call them.

But that would require personal responsibility, and if we use personal responsibility we can't blame greedy banks and evil corporations when we overdraft our accounts... That simply won't do.

mrpillow

My Wells Fargo student checking/savings account is fixing to get hit by this, which is rather irritating as it's the bank that has an on-campus branch and ATMs. I have to maintain a balance of $500 or face a monthly charge, which is rather annoying for a poor college kid LOL

undulac