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- alanocu, on 07/03/2009, -0/+13Getting less attention are the fees banks are imposing on their more responsible customers who are just trying to access and manage their accounts. For example, ATM fees continue to rise. Cash advances take a bigger bite. Stop-payment and returned-deposit fees have skyrocketed. "Courtesy" services are disappearing (charging you to speak with tellers is BS). Miscellaneous fees are rising (balance transfers, overseas card use).
Discovering all the ways you can get dinged is often a process of trial and error. Banks don't typically publish their complete fee schedules on the Internet, and the first time many people learn about a fee is when it shows up on their account. - moothemagiccow, on 07/04/2009, -1/+13I don't understand overdraft fees. Basically you spend more money than you have in the bank. Why are you doing this? I can keep tabs on my balance all day at work and any time at home, and I always make sure I have enough money in my checking account to cover whatever I spend. What is so hard about that?
I'm not rich, but I'm not stupid enough to let my balance drop below the cost of a month's rent. What are people buying all the time that's driving their accounts below zero? - BassMastr, on 07/04/2009, -0/+10I prefer credit unions. They tend to be more local, give better rates and some share the profits at the end of the year. For ATM you'll want something with ***** of ATMs like Wells Fargo/ Wachovia or BAC or one of the big ass banks that no one likes.
- 08soso, on 07/03/2009, -0/+8I really hope the American people are fed up with these fees. I do not pay ATM fees and have moved my money from banks to avoid them. My current bank refunds my fees but I still try and find the credit union that "only" charges $1.50 just out of orneriness. If people would stop paying these excessive fees and move their money to credit unions or some other few banks that do not charge the excessive ones, then banks would stop raising these fees willy nilly. However, when I suggest it to my friends they find its just too much trouble. As long as banks can depend on people not wanting to be bothered, they will be taken advantage of.
- juankovo, on 07/04/2009, -1/+8This would work just fine if we didn't have the Treasury and Federal Reserve continually devaluing our money.
- jsc07302, on 07/04/2009, -2/+8I don't know about you, but my bank gives me free checking, free savings, free ATM cards, free bill pay, free online transfers, 0% balance transfers, zero annual credit card fees. HONESTLY. If you want to dispute a fee, call them up and they will waive it. I mean, I don't understand how you expect these places to make money by charging you basically nothing upfront and giving you alot of free services that I think alot of people are starting to take it for granted.
Maybe you're ok with going back to stuffing cash under your matress and going back to the stone age, trading goats for apples, but I think you people are a bunch of idiots. If you ask me, the banks are being made a convenient scapegoat by the politicians who are ***** up the economy big time and looking for someone else to blame.
Stop being a bunch of lemmings and THINK before you rant. - snoobies, on 07/04/2009, -1/+6I've just realized I've should of been a banker. I can make huge loans with money I don't have, call them assets, earn huge earnings on the interest, and if they can't pay, convince the government that it's a national/global economic problem that needs intervention because millions of jobs will be lost, poor people's savings will be jeopardized and we all know that can't happen, parks and homes won't be able to obtain electricity or water, and the government must and should help out all americans including the idiotic bankers that put us into this situation. Then create policies for the government to balance off my book keeping sheets including the interest owned with money they don't have or money printed out of thin air, while americans buy into this idea that their tax dollars is saving jobs and the economy. And I call it capitalism and freedom. (sarcasm)
Good Read - Educate yourself.
The Name of the Game is Bailout.
"The Creature from Jekyll Island" by G. Edward Griffin. - V0rt, on 07/04/2009, -0/+4Sure there's valid reasons to hate some banks, but bitching about getting charged extra for spending money you don't have? *****
- DaviDTC, on 07/04/2009, -0/+3Interest rates are the same right now too.
- afruff23, on 07/04/2009, -1/+4See interest-bearing savings accounts.
- adventureindia, on 07/03/2009, -0/+3This is a nice story, i think most of the bank in America are facing a bad time right now
- Eorster, on 07/04/2009, -0/+3Look into a local credit union.
- kloud213, on 07/04/2009, -0/+3no i dont steal anything..... I pay back what fees i occur and don't bitch because its my fault. It just pisses me off when ignorant people think that everyone can keep their account full of money all the time. mistakes happen.
- SScottAZ, on 07/04/2009, -0/+3I love my credit union.
If your stupid ass is still using a bank, you deserve to be fleased. - pathouston22, on 07/04/2009, -1/+4I have no anger towards my bank (Wells Fargo - but not counting taking bailout money). I don't bounce checks and I don't overdraft. So I don't get hit with any fees.
Novel concept, eh? - AmusedToDeath, on 07/04/2009, -0/+3The Neo-Nazi Party? WTF are you talking about?
- AmusedToDeath, on 07/04/2009, -0/+3Not to mention that you can use a debit card free of charge almost anywhere now, and often get cashback at those locations as well.
- falstaff, on 07/04/2009, -0/+3I haven't got direct deposit set up yet at a new job, so I had to talk to a teller a few weeks ago for the first time in about 8 years. No charge, took two minutes, and I could have done that at an ATM if I wanted. I don't know what banks people are using, but if you even have to talk to a real person on a regular basis, let alone get charged for it, you're doing it wrong.
But, charging fees to the good customers is the result of the bitching in this article. The first guy is so bad at managing money, he can't tell when he has less than a SINGLE DOLLAR in his account? Don't bitch at the bank for that!
Then the next chick is in the negative for DAYS, and it's the bank's fault?
So what are banks to do? Believe it or not, they are businesses, too, and have expenses that need to be paid, and if the idiots who can't add and subtract think they're justified in complaining about it, then it's the rest of us who pay. - Proctor, on 07/04/2009, -1/+4It's because banks like Chase intentionally manipulate your online statements by making certain things go through on certain days. Sometimes things will pend and take money out of your available balance, and sometimes things will pend and NOT take things out of your available balance. So how can you ever know how much money you actually have? This has happened to me many times. I'm perfectly fine with my available balance because I saw my available balance, then something goes through 3 days later that doesn't even show up on my statement and puts me under. I recently just had a $70 NSF fee from Chase.
Ridiculous. - SirBruce, on 07/04/2009, -2/+4So you have to use money YOU DON'T HAVE, so you in effect STEAL it from the bank? And then you're surprised that they charge you extra for essentially taking out a loan that they didn't approve?
- looongfellow, on 07/04/2009, -0/+2couldn't agree more, i'm constantly on the move and haven't put much energy in finding a credit union with enough branches to accommodate my nomadic lifestyle. I've been burned by banks purposely changing around my banking history to cash in on as much overdraft as possible, the last straw was 3 separate charges for a few dollars a piece almost three weeks old coming back after i paid all my monthly bills to throw my account into overdraft, than after a week they went into a second account i had with them and took the funds to cover the first, without my knowledge throwing that account into overdraft. $720 in fees. WTF! I have a phone, and your a bank. I've had a great experience with credit unions, but for now have moved over to a walmart greendot visa card. I think they have mastercard too. There is always a walmart everywhere i go, if you cash the check there it is loaded onto your account fro free or it will cost $3. When i run out of money the card doesn't work. SIMPLE. I got enough ***** in life without having to worry about some bean counter sitting in a box somewhere scheming up a way to screw me.
- inactive, on 07/04/2009, -1/+3The least bank can offer are lower fees and better interest rates? Right, didn't we just bail them out???
Check out your local credit union, support them or another local bank that didn't take TARP. - BlacklabelSAR, on 07/04/2009, -0/+2Holy King James version of the exact Word of God, I agree with BassMastr on this one.
Strange bedfellows indeed. - inactive, on 07/04/2009, -0/+2Credit Unions FTW.
The only Bank I would use is ING.
(Access slush pool Credit Union) <-------> (Long term savings ING) - zacharytelschow, on 07/03/2009, -6/+8If you think you're getting a raw deal from banks, you're more than welcome to store your money under your mattress at home.
- jcrew77, on 07/04/2009, -1/+3Except Bank of America has been screwing people over for years, has always been one of the nastiest bank and continued to drop banking standards of every bank it absorbed. It is only one sided if he went after Bank of America, but he went looking for bad banks and found, not surprisingly, that a lot of people were complaining about Bank of America. Yes Citigroup is horrible as well. And who made the policies that let banks screw America? What policies? When did Dodd or Frank give the thumbs up to banks doubling their over draft charges? Rigging it to give you more overdrafts? It seems the idiots that formulated the PATRIOT ACT had it in mind to screw anyone moving around as little as a few thousand dollars (because terrorists are working in sums of five thousand). You make little sense and your liberal bashing comment stinks of stupidity.
- EdCenter, on 07/04/2009, -0/+2You people are so ignorant when it comes to ATM fees. You're not paying your bank (via these ATM fees) to access your money, you're REIMBURSING them for the fee's THEY were charged because you were too lazy to go down the street to your own bank's ATM.
The people profiting from your ATM fees IS NOT YOUR BANK, it's the bank or vendor who OWNS the ATM that charged you and your bank the fee.
If you want to avoid ATM fees, go to your freaking bank! If you want to avoid overdraft fees, then DON'T F'ING SPEND MORE THAN YOU HAVE!! Banks are not your mommies and daddies, and when people finally realize that, then they'll realize that they need to be more responsible when it comes to banking and house buying. - Spinducky08, on 07/04/2009, -1/+3At least your matress doesn't ding you an overdraft fee when you try to spend more than you have.
- LokitheComplex, on 07/04/2009, -1/+3This generation will never trust the banks again.
- RANDOM667, on 07/04/2009, -0/+2I Hate banks!
When i signed up for the last bank account i had i specifically asked if i would be charged an overdraft fee or if my card would just be declined.
They told me it would just be declined.
$240.00 worth of overdraft fees later i found out they had lied to me.
I asked to have the overdraft protection removed from my account, they said they couldn't do that.
I sent a nasty letter, and almost went to jail.
I hope they all choke on a roll of quarters!
I got a pre-paid visa from wal-mart and i haven't had a problem since. - SirBruce, on 07/04/2009, -1/+3I don't understand all this bitching about ATM fees and BofA. BofA, like most banks, does not charge you an ATM fee when using THEIR ATMs, and BofA has more ATMs than just about any other bank. If you're using an ATM from another party, that party is going to charge you an ATM fee *regarldess* of what bank you use; they're the ones screwing you, not your bank. Finally, the practice of *both* the ATM provider *and* the bank charging you an ATM fee for the same transaction was made illegal years ago.
- AgmLauncher, on 07/04/2009, -2/+4I'm not part of that $38.5 billion dollars by a single cent because I'm FINANCIALLY RESPONSIBLE. I wonder how many of those people also have a few thousand dollars in credit card debt as well. Nobody to blame but themselves.
- Spinducky08, on 07/04/2009, -0/+2Unless they don't process your loan payments on time. I had more than a few times I payed a few days ahead on a WF loan and I got charged a late fee because they sat on my payment till AFTER it was due before processing it.
That's not how it's supposed to work. - burgerkinghorn, on 09/02/2009, -1/+2TD Bank (formerly known as Commerce)
- jsc07302, on 07/05/2009, -0/+1If you don't like Bank of America, then don't use them.
From Wikipedia on Barney Frank:
http://en.wikipedia.org/wiki/Barney_Frank
In 2003, ... Frank opposed a Bush administration proposal for transferring oversight of Fannie Mae and Freddie Mac from Congress and the Department of Housing and Urban Development to a new agency ... Frank stated, "These two entities...are not facing any kind of financial crisis.... The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
It's good to care about affordable housing. But not at the expense of our economy.
I hope you take some time and reconsider your opinions. - ScienceDoc, on 07/06/2009, -0/+1Credit Union is the way to go.
- inactive, on 07/04/2009, -0/+1Debit cards do attract overdraft so be careful but they are the best option, especially online! You can only go a few dollars under zero before it is declined. If you have no savings or money in the account, no harm done! Spend what you can earn and nothing more! When the US starts doing that it will be a super power again, in the meantime enjoy sucking on China's nipple.
- inactive, on 07/04/2009, -0/+1Correct! And you would be a fool to do so. Their advertised interest rate on loans is lower than a credit unions, usually by 1.25% but their fees, hidden charges, servicing, make believes (door service, paper fee, punitive space fee) all add up to an extra 2.4% on top of what you borrow. Only a fool would use a bank.
- TVisio, on 07/05/2009, -0/+1Regions Bank just promoted a 1.9 % apr on transfers using their promotion checks. I tried one and after early payment was charged a whopping 49% on the next invoice!!! I am gonna raise holy hell and burn them every chance I get!!!
- V0rt, on 07/04/2009, -0/+1You just admitted the whole problem was your fault. Like I said, there's valid reason to complain about some banks. But, them charging you extra to cover YOUR irresponsibility isn't one of them.
- oldgal, on 07/05/2009, -1/+2Having worked for a bank for 20 years, I can remember a time when there were things like fiduciary responsibility and professionalism. This changed about the turn of the century when they started becoming too big to fail. I imagine some of the smaller regional and local banks are still good, but it is difficult to determine which are and which aren't.
- stubear, on 07/04/2009, -3/+4"Seems this blogger and father from Maine rented five movies from a place called Redbox, and the folks at Redbox didn't put the charges through once, but as five individual charges through Big Robby's credit or debit card. He had a lower balance than he thought, and wound up getting five $35 overdraft fees from Bank of America."
That was the fault of Redbox, not Bank of America. All the other problems with BoA I read about on that site were the fault of the account holder. I don't care for what banks have done and are still doing to this country's economy, but don't let that anger become misplaced. Overdraft fees are legitimate, especially when the account holder is irresponsible with their money. it takes some effort, but instead of spending so much tome on social websites bitching, get a money management app and keep a closer eye on things, make a budget even (and stick to it). - Super6, on 07/04/2009, -0/+1To be a lender, yes, which still sucks but you can thank the SEC for that. Prosper is better but closed down right now.
- linagee, on 07/04/2009, -0/+1Lending club requires $75k or so in positive assets. (This means above and beyond savings/assets minus debts you have.) More if you're from California.
- BassMastr, on 07/04/2009, -0/+1This might be the first time we have ever agreed on anything...
- linagee, on 07/04/2009, -0/+1@Super6: Who specifically at the SEC can I thank for that? I'd really like a name and an address of the fool who closed down prosper.
- evaburrito, on 07/04/2009, -1/+2How do you know how much money you actually have? Rely on yourself, not the bank. Get yourself a check register and write it down. The bank will even tell you that your online account information is not a statement or a register.
- WhiteHatTrick, on 07/04/2009, -1/+2Im pretty sure the interest you'd get is chump change compared to the 30 odd dollars per transaction with a negative balance. Just think how much of a killing youd make if it went both ways--boom 30 bucks for ever transaction. Now think how much of a killing the bank makes being able to do that to 60 million people
- Khast, on 07/04/2009, -1/+2well, there's ""
and ""
I think that is all the decent ones. - gdenne, on 07/04/2009, -0/+1Can anyone recommend a decent American Bank for everyday savings and ATM use?
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