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.

[Bobby Headrick]

Do not back down, these fees and other FINE PRINT scams that banks put in their programs have helped add to this disaster of the economy. FEE here FEE there. Fee's to refi, fees to borrow, fees to loan, fees to write a ck, fees to withdrawl from ATM. fees to deposit in ATM. Fee's for fee's sake. This is some of the greedy things that have hurt us.

[mhall]

Get'em Tyme I support what you are saying 100%, I hate this kinda crap!

[wishniwasfishn]

Banks are nothing but thieves in my opinion, and I have nothing but disdain for them. I wish I could just bury my money in the back yard, and never ever have to go into a bank again.

[GeoFisher]

Banks are nothing but thieves in my opinion, and I have nothing but disdain for them. I wish I could just bury my money in the back yard, and never ever have to go into a bank again.

So, you've NEVER used a bank for anything............

Granted the fees are TOTAL CRAP........but lots of people use the "systems" that banks have in place, and those systems require MONEY to support.

I don't know how much is OK for a fee for their services.......but their services are a necessity in our economy.

Later,

Geo

[psprowler]

So, you've NEVER used a bank for anything............

Granted the fees are TOTAL CRAP........but lots of people use the "systems" that banks have in place, and those systems require MONEY to support.

I don't know how much is OK for a fee for their services.......but their services are a necessity in our economy.

Later,

Geo

I think the fees might have been a fraction of necessary before the big boom of technology, but nowadays I just can't figure it takes anywhere from $3 to $4.50 total to get money from an ATM that is not "your" bank. They just didn't drop the fees because it was an additional source of income.

[DJD]

I had my Credit Union of $30 years raise my Visa interest rate to 14% and I asked why? The CSR said it just cost so much to do business now....of course i said it's their problem not mine and to lower my rate back where it was. She chuckled and said Sir if we did that for you we would have to do it for everybody. Here's what I told her I would do.....

I opened another account here in Lex at another CU at the 6.99% Visa rate. I'm keeping my account at the old place with no balance on the Visa but I'm going to send $5 a year to them to show a transaction so I don't suffer inactivity fees. It will cost them more to keep me now and I won't let them make much off my savings. I have less than $200 in that account.....bozo's

[GeoFisher]

I had my Credit Union of $30 years raise my Visa interest rate to 14% and I asked why? The CSR said it just cost so much to do business now....of course i said it's their problem not mine and to lower my rate back where it was. She chuckled and said Sir if we did that for you we would have to do it for everybody. Here's what I told her I would do.....

I opened another account here in Lex at another CU at the 6.99% Visa rate. I'm keeping my account at the old place with no balance on the Visa but I'm going to send $5 a year to them to show a transaction so I don't suffer inactivity fees. It will cost them more to keep me now and I won't let them make much off my savings. I have less than $200 in that account.....bozo's

Lets see........

* How much does internet and wireless, and HARDWARE infrastructure COST......A LOT
* How much does FRAUD cost....A LOT
* How much does THEFT cost.......A LOT
* How much does Bankcruptcy cost....A LOT

Banks lose money on all the above......and savings rates for Americans are at an all time low.........

In order for BANKS to exist, they have to charge fees to make up for the lack of people SAVING MONEY.

Vicious circle.....

I HATE the fees......but I use my check card.
I HATE the fees........but I use the banks revolving credit.
I HATE the fees..........but I use the mortgage services.
I HATE the fees.............but I got a loan for my truck.
I HATE the fees.................but I got a second mortgage to help with college.

BANKS are a necessary evil........

Don't like the fees......DON'T USE THE BANK......

AND I agree with you about the BS of raising the rate arbitrarily......I HATE that CRAP. I had 2 credit cards with a balance.......one was a JC Penney store card, with 500 bucks on it.........the rate on that card went from 7% to 31% BECAUSE it could.

I gathered up all my statements.......at least all I that could from the last 2 years....Photo copied them, and sent the copies along with a letter I wrote to JC Penney. I explained about the 7500 dollars I will NOT be spending in there store EVER AGAIN.........

[GeoFisher]

I opened another account here in Lex at another CU at the 6.99% Visa rate. I'm keeping my account at the old place with no balance on the Visa but I'm going to send $5 a year to them to show a transaction so I don't suffer inactivity fees. It will cost them more to keep me now and I won't let them make much off my savings. I have less than $200 in that account.....bozo's

I'm sorry.......and I know you're PISSED, but that is part of the problem. Servicing an account, with 200 bucks in it.....COSTS them money....

Later,

Geo

[Bobby Headrick]

If the banks ceo's and prez's and higher up's did not make humungous salarys and bonuses' maybe they could cut back on the fee's some. YEs they need some fee's but they should be reg or somethung so they cannot charge you more than the service is worth, banks make money off every cent that enters the bank. But like you said Geo they have us by the you know.

[bassin_bug]

Banks are nothing but thieves in my opinion, and I have nothing but disdain for them. I wish I could just bury my money in the back yard, and never ever have to go into a bank again.

My sentiments exactly. Sweetie Pie and I can't let our account at a major bank drop below $5,000 or they will charge us $18 per month "service fees." I have a 'secret' account at a bank in in Canada that doesn't charge service fees and a "HeBe" (HeBe mad if he knew I had it) account at my credit union that has no minimum balance service fees. We have some accounts at his company credit union that pays the best interest rates on CDs, IRA, Jumbo CDs and checking, and they don't charge service fees on anything. Both my HeBe account and our ECU accounts pay us lump sum dividend checks (in addition to regular interest) every 3 months and neither charge us service charges. I don't understand how the banking industry can have such a wide variance in their fees.

On the other hand we have 2 credit cards that we use for travel. Well......I was out of town and the credit card bills came in and they sat there with the rest of the mail until I returned 3 weeks later. One had a balance of $214 and they charged a $35 late fee; the other had a balance of $52 and they charged a $15 late fee. We have NEVER been late paying our bills, in full, at the end of the month and my payments arrived in their office ONE lousy day late. I called them because I felt the fees were too high for such a small balance. They essentially said, "You're lucky you had a small balance or we would have burned your pants off." I don't believe there is any way to win because the banking industry is so corrupt. I don't mind paying my fair share but I shouldn't have to pay for people who max out credit cards then give a "one finger salute" to the banks. They stick us with the bill for deadbeats by charging high interest rates and that is absolutely wrong.

[DJD]

I'm sorry.......and I know you're PISSED, but that is part of the problem. Servicing an account, with 200 bucks in it.....COSTS them money....

Later,

Geo

Yeah I was pissed but I feel better now.

With the number of years I had an active account (with good money in there) and the amount of car, motorcycle and truck loans I have had with them plus no sweat on the credit score....I'm not the problem. I'm one of the people who have payed like a good citizen and contributed to the system. Not much difference in the two credit unions with benefits so I feel like one did a better job to keep their rates low.

The problem is bad management of their resources, bad decisions on subprime loans and greed.

I'm tired of getting lumped in with the guy who skirted by or abused the system so this is the only way I get my satisfaction . They can close their doors for all I care....to me what I did was smart business with a little twist of sweet revenge for trying to take advantage of me.