Bank Fees Rant

[Tyme2fish]

I was just on-line with my bank and noticed a fee of $6.00. ?? I called the local branch and was informed that this fee was because my balance fell below $1500.00.

Now let's not forget that this occurred 12 nano-seconds before $3000.00 was transferred to this account from another institution.

The customer "service" person I spoke to said she would consult with her manager but that she herself could not cancel this fee. I asked her to have the manager contact me. I also informed her that if this $6.00 fee was not removed that a customer of over 30 years would be cancelling this account.

My balance is usually around 2k to upwards of 8k. I will not tolerate nor allow this financiial institution to just rip me off for $6.00.

$6.00. What's the big deal? Well it's my $6.00 and they earn plenty of money on my funds sitting in their bank. I can buy a couple of nice baits (well not so nice) with that $6.00.

I love a good fight with "big business" and will pursue this matter until my $6.00 is restored. If they refuse, well adios Big Bank, my business is elsewhere.

 

[JustJason]

Re: Bank Fees Rant

My woman is a manager for bank of america. You should see some the fee's they have. It's something like 8 bucks just to cash a BOA labeled check if you do not have a BOA account. So imagine if your a bag boy at a grocery store who just wants to cash their paycheck. BOA charges the kid basically an hours worth of work just to cash it.
She tells me that BOA and Citizens are the 2 worst ones out there.

 

[tashasdaddy]

Re: Bank Fees Rant

Jason, that is exactly why, i quit taking checks as payment. also Sylvia's account is with BOA, her Pay Check is drawn on Wachovia, BOA puts an 11 day hold on her paycheck. ii use a locally owned friendly bank.

what about credit card companies, that do not post payment until the day before they are due. Chase is one of those, i make my payment 2 weeks before it is due, always post the day before. that way they collect more daily interest.

 

[CheapboatKev]

Re: Bank Fees Rant

Jason, that is exactly why, i quit taking checks as payment. also Sylvia's account is with BOA, her Pay Check is drawn on Wachovia, BOA puts an 11 day hold on her paycheck. ii use a locally owned friendly bank.

what about credit card companies, that do not post payment until the day before they are due. Chase is one of those, i make my payment 2 weeks before it is due, always post the day before. that way they collect more daily interest.

Been w/BOA of 20 plus years...Just about had enough of their shenannigans as well..They do not post items in exact chronological order, seems they posts the biggest ones then hope to trigger a few 35.00 insuff fund fees...Diane & I have gone round & round with them...

 

[exsailor]

Re: Bank Fees Rant

My wife used to be a VP for a regional bank that got sucked up by Citizens (RBS) during the last banking catastrophe. After the take over, she was asked to sit on a committee that did nothing but dream up new and creative fees. Believe it or not, Citizens (at the time) was making a HUGE percentage of their total income on fees rather than on lending and investments. No wonder their all going under. She has long since left the banking world and is far happier where she is, and we don't do any of our banking with any of the "too large to fail" institutions.

 

[ShaneCarroll]

Re: Bank Fees Rant

Back when I was younger and not so "financially sensible," I got ripped off big time with BOA. I was living check to check, and knew that I would have to overdraft my account in order to pay a bill. So, all week I would use debit for lunch, etc(since debit posts to the account right away) and at the end of the week, I would put whatever bill I had on credit (since credit usually takes 2 or so days to post.) They would not post my debit purchases until after the credit, so now every Snickers bar I got had a $33 overdraft fee attached to it. In one week, they tried to charge me $264 in overdraft fees!!

I went ballistic, I walked in the bank, yelled at the branch manager, demanded all of my money and closed that account on the spot.

This was about the third time they did this to me, and the first two times I called the bank. They credited me the money back, but the third time was the final straw.

 

[jay_merrill]

Re: Bank Fees Rant

Those of you who live in places where Capital One exists, might want to try them. They don't "fee you to death" and give pretty decent service.

I agree with the OP and have pulled my money from banks for the very same reason. I also just left a cell phone company that I had been with for eight years, because their plans had become uncompetative. I began to tell my carrier a year before my contract expired, that their competitors had much better plans and that I wanted something better from them. I was told things like "we don't match the plans of other cell phone companies." At the end of the contract, they were still giving me similar replies and I did exactly what I told them I was going to do. I now have a new carrier who gives me earlier "nights & weekends," unlimited minutes, unlimited data plan, GPS, email and television - all for the same monthly fee that the previous carrier charged me for 1,400 minutes per month, with no other services! Guess who was calling me every couple of days for about a week after I switched?

I have the same feeling about businesses that want me to carry "discount cards" or jump through the "rebate hoop," in order to get a competative price. I will occassionaly shop at a grocery that has such cards, but not often and only when I am in a hurry and only need a couple of items. When I get the the usual, "do you have a (insert name) card," I say no. I then tell the person that I shop at their store very little, because I patronize businesses that don't make me prove that I am a "good customer" by getting some card. That is especially true of stores (and there are many) who's pricing is still not competative even with the card!

I feel the same about rebates. Unless it is an instant, in-store rebate, I will go to great lengths to buy a product somewhere else, just because I think rebate programs are fundamentally dishonest.

Right now, the "old crudgemudgeons" like me, who tell these store clerks and managers why we won't give them a substantial amount of business, are probably wasting our breathe. If the majority of consumers did this, however, you can be sure that business philosophies would change. As the saying goes, hurt them in the wallet and you will get response."

 

[Huron Angler]

Re: Bank Fees Rant

I closed my National City account after they charged me a $20 INCOMING wire transfer fee.

Since when does it cost a bank money to receive a wire? I work for a brokerage firm and know for a fact that it does not cost $$ to receive an incoming wire.

I will be dealing with my local credit unions from now on.

By the way it's not "too big to fail" it should be "too big to bail out using taxpayer dollars while bonuses are still paid exorbanantly"(my firm is NOT a recipient of any taxpayer funds- we are actually solvent and profitable)

 

[heyttown]

Re: Bank Fees Rant

Thats why I gave up on big banks if all possible.. i strictly do all my checking and savings with a local credit union..I walk in and am known by first name and have not had a lick of problems, in my eyes im not just a number to them, and will gladly bring my business to them.

 

[ThrashN]

Re: Bank Fees Rant

Credit Union for me

 

[bowman316]

Re: Bank Fees Rant

Been w/BOA of 20 plus years...Just about had enough of their shenannigans as well..They do not post items in exact chronological order, seems they posts the biggest ones then hope to trigger a few 35.00 insuff fund fees...Diane & I have gone round & round with them...

Bank of America is the problem. They are the worst bank ever. They have a fee for EVERYTHING. Leave BOA as fast as possible. And as far as fees go, my local credit union is great at service. If you just ask to speak to a manager, they will refund most fees. Don't even bother talking to the first person you reach, they have no authority to do anything.

 

[chicknwing]

Re: Bank Fees Rant

I got sick of the big banks and decided to give what I considered a small bank a shot. Have you ever been in a Wally World and seen a FSNB branch? Man, what good service I get from them. My old account $35 per overdraft, new account $16, old account monthly service fee 6.50, new account 2.50. I keep very little money in the bank though, I do not trust the financial system. I deposit enough to cover my bills and put the rest in my safe.

TC

 

[CheapboatKev]

Re: Bank Fees Rant

One of my customers was working on a lighting quote for BOA Corp in CLT..
Told him to find as many fees as possible...

Answering the phone fee
Send email fee
Fax fee (huge, must be a 50.00 fee)
Cad drawing fee
Fixture schedule fee
Drive to meeting fuel surcharge fee
Actual meeting fee (per executive, mind you)
Fee for winning bid
Bigger fee for LOSING bid
And above all
A fee maintainence FEE

 

[jonesg]

Re: Bank Fees Rant

One of my customers was working on a lighting quote for BOA Corp in CLT..
Told him to find as many fees as possible...

Answering the phone fee
Send email fee
Fax fee (huge, must be a 50.00 fee)
Cad drawing fee
Fixture schedule fee
Drive to meeting fuel surcharge fee
Actual meeting fee (per executive, mind you)
Fee for winning bid
Bigger fee for LOSING bid
And above all
A fee maintainence FEE

rofl, cheapboatkev will soon be bostonwhalerkev.

 

[jonesg]

Re: Bank Fees Rant

you don't want to know what banks charge my business account, I process thousands of checks, its a $1 per check fee because I'm a corp.
Credit card fees ...I just don't look.

 

[CheapboatKev]

Re: Bank Fees Rant

rofl, cheapboatkev will soon be bostonwhalerkev.

lol...

 

[CheapboatKev]

Re: Bank Fees Rant

you don't want to know what banks charge my business account, I process thousands of checks, its a $1 per check fee because I'm a corp.
Credit card fees ...I just don't look.

years ago I negotiated a 200k order w/a landscape customer, bought his entire years supply of lamps in one shot...did it at low margins and he paid on his cc..@ 3% hit to my company...he went to germany on skymiles..I got a big lecture from accounting!

 

[aspeck]

Re: Bank Fees Rant

Like Tyme, I recently had a run in with one of my banks ... 18 year customer. It is a small bank and had been very easy to work with. I deposited a 10K check with them and had written out a 2K check that I had given to another bank minute before depositing the 10K to cover. I also asked for $200 in cash when i deposited the 10K.

I was told I could not get the $200 because on checks that big they needed to hold them for 10 days. I said, "What????" You know who wrote this check I am depositing and you know it is good. There is no problem here, and you never put a hold on any of my deposted checks before. You know me and this is not big city banking. The "new" manager said that it was a new policy and what could she do about it???

I told her to wave the policy. She declined, and I told her to close the account, my daughter's account, and the wife's account. Then I went to the bank that I had deposited the 2K and got that check back. Went to a third bank, asked if I deposited 10K if I could write a check on it same day. They said, "For you, no problem. It is not our policy, but for people we know, no big deal." I opened a personal account there and immediately wrote the 2K check out that needed to go to the 3rd bank.

Guess which bank never gets any praise from me, or any money???

 

[kenmyfam]

Re: Bank Fees Rant

Don't know about the USA bank system but we bank with the TD Bank of Canada. $9.95 per month and we get unlimited amounts of any transactions. The only extras would be NSF fee of $25 and overdraft fee of $5 (unless pre arranged) as long as you are in credit then there are no frills and extras.

 

[bowman316]

Re: Bank Fees Rant

Yea, Don't work like that in America.
You really should have a FREE checking account if you have direct deposit. I mean who doesn't have a free account this day in age?

I pay absoutley nothing to the bank, i make sure i stay positive, and as long as that is true, they get no money out of me.