When they feed shit to my ears.
Apprently, when I called in, and specifically told them, for any overdraft of my checking that is under $100, just take it out of my savings account. They said yea sure.
No. Didnt happen. They took money out of my Credit card, charge me $10 for doing that, and $35 for overdrafting, an $10 to withdraw cash from my cc.
GO make the beast with two backs YOURSELF. Banks are the most make the beast with two backsing bullshit ever. Thanks for ruining the economy and stealing my money.
Im done.
I realy don`t understand why they need bailing out [bang]
Quote from: He Man on December 02, 2008, 06:16:37 AM
GO make the beast with two backs YOURSELF. Banks are the most make the beast with two backsing bullshit ever. Thanks for ruining the economy and stealing my money.
Im done.
then bury your money in your backyard.
Why are you overdrafting your checking acct.? That seems to be the real problem...not the bank's overdraft policy.
+1
A) Don't overdraft your checking account.
B) Change your banking to a local credit union.
C) Get rid of the credit card.
Nah, this time I sympathize. My bank seems to calculate my balance using particle physics math. They also just started a new policy: anyone cashing a check drawn on their bank that doesn't also have an account with their bank(Like most of my employees) gets hit with a five dollar "service fee".
This means that most of the guys working for me now get paid $5 less each week.
Time to fire your bank and get another one and make sure the bank president knows why you're firing him.
Quote from: Drjones on December 02, 2008, 10:23:52 AM
Time to fire your bank and get another one and make sure the bank president knows why you're firing him.
+ 11ty billion.
That's bullshit.
Quote from: Bun-bun on December 02, 2008, 10:04:43 AM
Nah, this time I sympathize. My bank seems to calculate my balance using particle physics math. They also just started a new policy: anyone cashing a check drawn on their bank that doesn't also have an account with their bank(Like most of my employees) gets hit with a five dollar "service fee".
This means that most of the guys working for me now get paid $5 less each week.
That fee sounds like BS. I'd switch banks over that.
I'm not sure about the balance thing though. If you keep a register with your deposits and expenses entered into it you always know how much $$ you have...regardless of what the ATM receipt says. You'll also never overdraft your acct. that way.
Quote from: seeker on December 02, 2008, 07:07:18 AM
NSFW (especially if you work in a bank)...
Mojo Nixon and Skid Roper's "I hate Banks"
http://www.youtube.com/watch?v=brL1AKdhLyQ (http://www.youtube.com/watch?v=brL1AKdhLyQ)
[laugh] [clap]
Quote from: Triple J on December 02, 2008, 10:58:35 AM
That fee sounds like BS. I'd switch banks over that.
I'm not sure about the balance thing though. If you keep a register with your deposits and expenses entered into it you always know how much $$ you have...regardless of what the ATM receipt says. You'll also never overdraft your acct. that way.
The fee started at BB&T about a year ago, so I switched banks to Suntrust.. Now Suntrust is starting it too.
The balance thing is just my own stupidity . I'm a better carpenter than accountant. I keep forgetting to enter the monthly fees into the check register, stuff like that.
It's a business account, so no ATM withdrawals, no electronic funds transfers. Just simple credit/debit accounting, and I still screw it up about once a year. ;D
I make the beast with two backsing hate banks too.
About 10 years ago I tried life without a bank account. I only managed about a year before I had to go back to one. First the bank that my paychecks came from started charging money to cash checks without an account, then I couldn't get an apartment without a bank account. So I opened a bank account with the only bank that actually had really free checking.
Banks are such a scam. I heard they can lend out something like 10x the amount of money they really have. So if I put in $1000, they can lend out $10,000. Yet if I want a $10,000 loan from them for a motorcycle, they want to give me something crazy like 16% APR. That's if i can even qualify for the loan. Meanwhile they are giving me 1% APR on my $1000. So in a warped way, they are really charging me interest on my $1000.
Seriously, ditch the banks and go with a credit union.
My dad recently went in to his bank to withdraw funds from his account he set up with my grandma. (long story short, she had been putting money in there to help him save for a sailboat, so there were thousands of dollars in it.) His name, social, and all that are all on it. He didn't know the account number offhand so he looked in his PDA for it and then provided it. They asked for ID, he provided it, they asked for additional ID, he provided it. Then he got a call from someone at the bank, while he was standing there, so they could verify the number. Then they called my grandma. Meanwhile, the bank teller was saying things like "So your emptying your elderly mother's bank account huh?" My grandma verified the phone numbers, the account numers, and my dad's identity. Then the cops show up. Apparently the bank had called the cops because they felt threatened by my dad. They said he sent up many red flags during his visit. 1. he didn't know his account number from memory (who does?
2. my grandma sounded "confused" apparently, when they talked to her (they were afraid she was senile)
3. One of the pieces of ID he provided was his concealed weapons permit (granted, probably not the best form of ID to show at a bank, but still.
4. His address was different than the one on the account. He moved recently.
Apparenlty all that warranted a call to the cops. They basically treated my dad like he was robbing the place.
I hope he placed a call to the bank's corporate headquarters, right after he closed his account there!
Yeah he's closing all his accounts and writing an email to corporate. He got all the associate's names.
Quote from: NeenjaMastah on December 02, 2008, 02:40:54 PM
1. he didn't know his account number from memory (who does?)
i do. ;D
Quote from: Drjones on December 02, 2008, 09:39:02 AM
A) Don't overdraft your checking account.
Good advice from Drjones
Most of the time, if it's the first time in a while you've overdrawn your account, a polite discussion with a bank officer is all you need to do to have your charges reversed. I reverse the vast majority of requests I receive - except when the person is behaving like they're entitled, or just otherwise acting like a peckerhead. I'm happy to be fired by those clients.
That being said, I've seen too many stupid people overdrawing their accounts 4 or 5 times a year, and acting shocked when there's a fee to use money you don't have in your account. The other alternative is to bounce your check, deny your debit card, etc. Is that preferable?
Yes - the fees are a nuisance - - they're supposed to be a negative feedback. Just manage your finances better, for make the beast with two backs's sake. It's not
that hard. Not as hard as doing the valves on a Duc for sure!
Neenja, your situation is unfortunate. Sounds like some nervous minions overreacted. On the other side of the dime, however, you wouldn't want it to be too easy to empty your grandma's account, right? We get dragged to arbitration all the time because divorcing spouses make the beast with two backs with each other's accounts... what's the problem with making sure a major transaction like emptying an account is done with the knowledge & consent of all account owners? Banks cover fraud cases out of their pockets, too.
A brief story about how much fun the general public is to deal with:
A couple months ago, a colleague had a walk-in want to open an investment account. The guy was very dodgy about his employment and the source of the funds he wanted to open the account with, etc. Long story short, my colleague decided after consulting with the compliance lawyers, not to open the account based on what little info he provided. Blame your congressmen & congresswomen for the Patriot Act. So this peckerhead left a death threat
on my colleague's voicemail, twice. Then he camped out in front of my colleague's house. My friend has two kids under 4 yrs old - and was just asking for more information.
Believe me when I say it's a career that has been fairly make the beast with two backsing miserable for the last couple years.
Quote from: Supero100 on December 02, 2008, 03:27:47 PM
Good advice from Drjones
Most of the time, if it's the first time in a while you've overdrawn your account, a polite discussion with a bank officer is all you need to do to have your charges reversed. I reverse the vast majority of requests I receive - except when the person is behaving like they're entitled, or just otherwise acting like a peckerhead. I'm happy to be fired by those clients.
That being said, I've seen too many stupid people overdrawing their accounts 4 or 5 times a year, and acting shocked when there's a fee to use money you don't have in your account. The other alternative is to bounce your check, deny your debit card, etc. Is that preferable?
Yes - the fees are a nuisance - - they're supposed to be a negative feedback. Just manage your finances better, for make the beast with two backs's sake. It's not that hard. Not as hard as doing the valves on a Duc for sure!
Neenja, your situation is unfortunate. Sounds like some nervous minions overreacted. On the other side of the dime, however, you wouldn't want it to be too easy to empty your grandma's account, right? We get dragged to arbitration all the time because divorcing spouses make the beast with two backs with each other's accounts... what's the problem with making sure a major transaction like emptying an account is done with the knowledge & consent of all account owners? Banks cover fraud cases out of their pockets, too.
A brief story about how much fun the general public is to deal with:
A couple months ago, a colleague had a walk-in want to open an investment account. The guy was very dodgy about his employment and the source of the funds he wanted to open the account with, etc. Long story short, my colleague decided after consulting with the compliance lawyers, not to open the account based on what little info he provided. Blame your congressmen & congresswomen for the Patriot Act. So this peckerhead left a death threat on my colleague's voicemail, twice. Then he camped out in front of my colleague's house. My friend has two kids under 4 yrs old - and was just asking for more information.
Believe me when I say it's a career that has been fairly make the beast with two backsing miserable for the last couple years.
I totally understand security and protecting people's accounts, even my father had no problem providing additional ID and information. He even understood calling my grandma to verify. But calling the cops after all that? It seemed un necessary, seeing as he verified his identity and his intentions several times over.
Ofcourse you shouldnt over draft, but shit happens sometimes. I dont keep much money in my checking account. Most of my money sits in the savings, or cash. So when I forget to rbing cash with me, ill just put it on my debit card, such as food and such. HOWEVER, what tipped the hat was a subways sandwich i purchase last week that didnt get credit it until this morning. I check my chase online account once a week to make sure that i have enough money to cover whatever i spent that week too.
It usually takes 3-5 days with chase to process a debit purchase. But this time it took more than a week. Probably casue of thanksgiving. I'm jut gonna start using my credit card instead. I wouldnt be so upset if htey just charged me an overdraft fee since it was my fault, but to literally bend me over and make the beast with two backs me is another. I had already specifically request that it be taken out of my checking. now i have to pay $55 in fees cause of a sandwich. This is as bad as that $115 bottle of water. [bang]
NeenjaMastah, that is one serious BS way to treat a customer. Whatever happene to bank after he wrote an email to them?
I hate em too!
Seems like now-a-days at my bank (which is a big national chain), the workers behind the counters at all the branches are rejects who couldn't get jobs at Target. Makes me feel pretty unsafe handling my money. I want to change, it is just a pain, with several accts, safety deposit box, all my online payments, etc.
mitt
I am becoming convinced the world is full of people who cannot take responsibility for themselves and need to blame anyone and everyone else for problems.
Does nobody understand how to effectively communicate with businesses without cursing and screaming? Does everyone run right to the internet to post how somebody else is evil, screwed up, or otherwise just wrong?
Everyone has the ability to go from joe nobody with one account at the bank complaining about how unfair life is, to being on first name basis with local bank president with multiple accounts and investments. Know what? They treat you better then.
Similar to the evil Duc dealer threads.
Go fix it and stop whining. A polite and professional letter will fix how they handle your personal overdraft situation...something serious enough that it should have never been relied on with a phonecall anyway.
On a different post issue...I hope it was just a bad example; but if someone has 1,000 in an account and is borrowing 10K to buy a Duc, they can't afford the Duc no matter what the lending rate is.
well said, Stat.
Quote from: Statler on December 02, 2008, 05:35:14 PM
Everyone has the ability to go from joe nobody with one account at the bank complaining about how unfair life is, to being on first name basis with local bank president with multiple accounts and investments. Know what? They treat you better then.
Same thing could be said for an airline that you fly regularly, hotel or chain of hotels you stay at regularly, restaurant or bar you frequent, dealership or service provider, etc.
Quote from: NeenjaMastah on December 02, 2008, 03:46:33 PM
I totally understand security and protecting people's accounts, even my father had no problem providing additional ID and information. He even understood calling my grandma to verify. But calling the cops after all that? It seemed un necessary, seeing as he verified his identity and his intentions several times over.
No doubt. Cops should not have been called. It was probably the CCW ID that made the person nervous... it's a bummer your dad had to go through that :P
Quote from: He Man on December 02, 2008, 04:11:41 PM
Ofcourse you shouldnt over draft, but shit happens sometimes. I dont keep much money in my checking account.
So make your artificial $0 level anytime the account drops below $1,000.
Savings accounts aren't paying much interest these days anyway...
Quote from: He Man on December 02, 2008, 04:11:41 PM
Most of my money sits in the savings, or cash.
???
You make sense. I just need to shift my zero level and i woudlnt of had this issue.
That last quote.. I have the classic money in my house for regular everyday spending...aka gas/train +lunch and just withdrawl when that reserve goes low. You're right savings dont pay much, if any at all, but the main point in putting the rest of my money in savings is simply cause my debit card cant access it. you know the whole deal, sliding a card and giving someone your cash has two different feelings. One makes you spend wisely the other makes you the proud owner of 9 things you dont need.
Quote from: Statler on December 02, 2008, 05:35:14 PM
On a different post issue...I hope it was just a bad example; but if someone has 1,000 in an account and is borrowing 10K to buy a Duc, they can't afford the Duc no matter what the lending rate is.
I would say you're assuming they only have 1 account. ;)
I'm not sure if maybe your considering a Duc a luxury vehicle and consider it different than a car, but I've bought a couple cars with less than $1000 in the bank after the down payment.
On a different post issue...I hope it was just a bad example; but if someone has 1,000 in an account and is borrowing 10K to buy a Duc, they can't afford the Duc no matter what the lending rate is.
Sorry, l but I don't understand that one.
And I've bought a couple of really nice houses, several really nice bikes, boats and cars, paid for them WAY in advance of the payoff date and never put any money down on ANY of it.
And don't most banks have "bounce-less checking" if you have good credit and quality for the "program"? ???
LA
Heres a kick in the nuts...
i forgot i set up monthly transfering from my savings to my checking...
guess what? the transfer WAS posted minutes AFTER it bounced...
banks suck.
Quote from: LA on December 02, 2008, 08:18:04 PM
On a different post issue...I hope it was just a bad example; but if someone has 1,000 in an account and is borrowing 10K to buy a Duc, they can't afford the Duc no matter what the lending rate is.
Sorry, l but I don't understand that one.
And I've bought a couple of really nice houses, several really nice bikes, boats and cars, paid for them WAY in advance of the payoff date and never put any money down on ANY of it.
And don't most banks have "bounce-less checking" if you have good credit and quality for the "program"? ???
LA
Houses are a different matter-no one expects you to buy one cash, but IMO, the only thing one should take loans to get is 1) a house and 2) an education (in the opposite order).
Other than that, if you don't have the money in the bank to purchase what you want to purchase, then you can't afford it.
Quote from: MrIncredible on December 03, 2008, 11:07:44 AM
Other than that, if you don't have the money in the bank to purchase what you want to purchase, then you can't afford it.
I have purchased all my bikes in cash. I just can not see financing a toy. So, I agree with you on that one. However, to each their own. At some point, with the financing offers, you can actually make money by financing if your savings account gets a good APR and you hit some deferred payment / interest option.
Quote from: ryandalling on December 03, 2008, 11:30:31 AM
I have purchased all my bikes in cash. I just can not see financing a toy. So, I agree with you on that one. However, to each their own. At some point, with the financing offers, you can actually make money by financing if your savings account gets a good APR and you hit some deferred payment / interest option.
I'd argue that's just smart money management over financing something you want just to get it sooner.
Quote from: MrIncredible on December 03, 2008, 11:07:44 AM
Houses are a different matter-no one expects you to buy one cash, but IMO, the only thing one should take loans to get is 1) a house and 2) an education (in the opposite order).
I would add, 3) vehicle. I mean a main mode of transportation vehicle, not a second one.
I was a field market rep when my car went down. I didn't really have a choice but to buy another car. (It's a good thing sleep train wouldn't give me a $400 loan for a bed the week before.) I'm sure there are many people in the same situation where its either get a car or find a new job. You can get a car in one afternoon (providing you qualify for a loan). It can take weeks to find a new job and you risk taking a pay cut too. Meanwhile you still need to eat and pay rent/utilities. Maybe it's more about survival at that point.
As a side note, I would also imagine that it would be good for your credit score if you had consistent on time payments from a car loan, which may help you out when you want to buy a house . . . or a bed.
Financing a vehicle is fine, providing the rate is favorable (meaning the same or less than your money is making where it is) and you can pay the loan off any time.
Quote from: R2 on December 03, 2008, 01:06:47 PM
I would add, 3) vehicle. I mean a main mode of transportation vehicle, not a second one.
I was a field market rep when my car went down. I didn't really have a choice but to buy another car. (It's a good thing sleep train wouldn't give me a $400 loan for a bed the week before.) I'm sure there are many people in the same situation where its either get a car or find a new job.
Given the depreciation and cost of full insurance on a new car, I'd advocate financing something 3 years old or so over a new one. I don't think I've ever bought a new car.
Haven't bounced a check in 20 years.
Never bought anything (other than my house) on credit.
Bought one new car back in '87, since then it's all been used.
Bought two new bikes and a scooter over the last 20 years. ('91 900ss, '01 Chromo and an '07 Vespa)
I live well within my means, despite two kids and a part time working wife. I've even saved up about a year's salary, just in case things "go south"
So... where's my bailout?
I never understood the whining about overdraft fees or late fees on credit cards.
It's so easy to just live within your means, buy things you can actually pay for, and just use a credit card or charge card and pay it off every month.
If you can't do that, you're living above your means.
If you don't have a safety cushion, you're living above your means.
Period. I had (at one point this year) 4 bikes. I'm down to "just" the Honda because of all the uncertainty in the economy.
Financial freedom is living beneath your means.
Adam