bank charged me "excessive activity charge"?

heiney9

Who charges 20-30% a month on a savings account for excessive withdrawls? I think you have another axe to grind outside the scope of this thread. :rolleyes:

nikolas812

cnh wrote: »

Nick,

We're certainly not going to lay blame on 'employees' or even 'middle-management' they're poor sobs like ourselves after all just doing their jobs.

cnh

LOL.


I wasn't an employee. I was a customer. I hated that bank. Seemed like they charged you for every single little thing.....




Nick

heiney9

That being said if you don't want to "allow" them to use your money then keep it in your mattress or mayonaise jar.

cnh

You're right. Danger Boy's post leads to a whole other set of questions for me...perhaps another thread would be more appropriate to discuss Credit Card legislation, etc.

Enough for now...

cnh

ND13

Move to a locally owned smaller bank. My wife works for one and we even get any fees(which can be up to $4/transaction these days) from other bank's ATMs put back into our account. Plus they never received a single penny from the gubment.

shack

cnh wrote:

I don't personally have any financial problems but I come from a working class background where everyone I left behind is in life-threatening debts to these banks. Those are the people I worry about. They are not the most financially astute, or educated, they don't understand the things you and I might. But they happen to be the backbone of our work-force and a large part of our tax base. If you think banks don't treat people differently on that basis...I can't really say any more. Of the 200 people I graduated from elementary school with 4 or 5 went on to college. The rest....well...they could use a bailout and a holiday from our banking practices.

****...****...****!

The banks are not to blame for these people being in financial difficulty.

THESE PEOPLE ARE TO BLAME FOR THEIR OWN ACTIONS!

The banks didn't force them to go into debt. They made it easy...yes...but the individuals made the decision to spend more than they made. I am sick and tired about the poor, poor folks who can't pay their credit card debt, can’t make the house payment on the home they should have never bought, can’t afford to make the car payment on the big expensive new car, etc, etc, etc. If you can't pay for something...don't buy it.

And don't get me started about fees. The 80-20 rule is in effect for most banks. We make 80% of our income off of 20% of our customers. These are good borrowers and good depositors and people willing to pay a fair fee for services we provide. We would be much more profitable by NOT DOING BUSINESS with the other 80%. The funds they deposit into their account each month and write out before the check clears costs us much more than any fee we are able to charge them. We would love to NOT do business with them. But of course we can't do that. It's called REDLINING and it is illegal. Most fees that banks charge are legit and often don't cover the costs to the bank. If you want to take the OPs complaint (I’m assuming it was an excess withdrawal on a Money Market account)…by law we have to notify him of the excess withdrawals and penalize him, etc... Does anyone really think that we can generate the notice, mail it to him, respond to his complaint about the fee, etc for $1? It doesn’t even come close.

I'm also tired of the poor uneducated folks can't understand what's happening EXCUSE. Everyone in this country has the opportunity for a minimum of a high school education. That is more than enough to understand and cope with the banking industry...IF...they take advantage of the education instead of just going through the motions. On top of that...all that paperwork that people complain about...while lengthy...contains all the information about EVERYTHING we do. And it is in language dictated to us by the govt....and all banks have to disclose the same way. There is not a legitimate bank out there that will not explain in detail the way an account works, the fee structure, penalties and so forth. Of course no one ever asks before the fact...they simply **** about something they never were concerned about until it hit them. There is also tons of free information provided by the govt., schools and banks to help people understand banks and debt and financing…if they just ask.

As you can tell...I could go on and on....

I have great sympathy for those who get into trouble for various reasons...illness, injury, loss of jobs, and things beyond their control. I was on the board of our local Consumer Credit Counseling Agency for many years and have worked with those problems. On the other hand I have little sympathy for those who chose to live beyond their means and now can't (or choose not to) pay.

You all go ahead and keep bashing the banks and bankers. We are easy targets right now…and yes some of it is justified. Most of it is not.

I'm out of this one.

ben62670

I owe BOA around $700 in charges. An automatic payment went through that I spaced. It put me seriously less than a $1 overdrawn. I didn't check it for 2 weeks PayPal was trying to verify that account and was trying to hit it for $1 everyday. I tried to work with them and they wouldn't. They kept nailing me for those $1 hits even though they weren't paying it. I closed the account, but for some reason it stayed open. Then I was told that I can't close an account that is in the red. I just tried to look, and my account isn't available for viewing.

cfrizz

Great post Shack, and as usual right on the money!

dorokusai

These are the folks responsible for this ridiculous situation....you don't want to wake up and find these idiots in your house.

shack

dorokusai wrote:

These are the folks responsible for this ridiculous situation....you don't want to wake up and find these idiots in your house.

These guys make Madoff, Stanford and Lay look like small time petty thieves....

cfrizz

Who's the guy in the middle?

dorokusai

Bill...and that's all I'm allowed, legally, to tell you.

agfrost

Hell yeah, Shack.

Jay

cnh

Should we have the pep rally now to restore morale?

avelanchefan

I have never had one issue with BofA. They have always been very fair to me. I was charged with the checking to savings fee, I did like 7 in a months period. I gave them a call, asked why they charged me, they politely explained and removed the charge.

Also about a year ago I got a new toy. The company took my checking information and started a direct monthly debit, to which I did not know of. (I did not look at the fine print...my fault) Any ways I went to pay them the first month, plus they took out the direct debit.....which means I double payed the first month. Bounced a lot of checks in a two day period before noticing the error. Called BofA again and they removed every overdraft charge except for the first one. Ended up being over 250 dollars worth.

Now I am not saying BofA can be arseholes but everytime I have made an error, they fixed it at their expense with no complaints, and a thank you at the end of the call.

The same could not be said of Wells Fargo, I had more issues with them in a two year period than I care to remember. The last straw was I gave them a 17,000 dollar check (my check BTW) to pay off a vehicle. I knew there was some change left but unsure of the amount. I waited for about 25 days before calling them to ask what the balance was. They told me I still owed a car payment for that month. I was like WTF? A car payment? I just sent you a 17000 dollar check. Yeah but that was for a payoff...we never saw a car payment that month. So they charged me some rediculous late fee, and I gave them the remainder money I owed, then I immediatly told the lady after getting my conformation number that this would be the last transaction I ever do with WF. I dont give a flying freak what kind of loop holes or laws there are, you give an insitution a 17000 dollar check they better count it as payment.

average_guy

avelanchefan wrote: »

Have you done a lot of transfers from Checking to Savings and Vise versa? You can only do six transfers per month, then they start getting real chitty about it. (Its some type of law from what they told me) That may be it.

If it is a law then you can be sure they lobbied for that law from its creation to its passage.

mmadden28

Askook25 wrote: »

without intimating they are taking they are Debiting money for AQB.....

__________________
.http://..........Chase.. Auto Loan....

^^^^NICE TRY
Reported

nadams

Askook25 wrote: »

without intimating they are taking they are Debiting money for AQB.....




Learning Englishing will helping be posting.

Hawkeye

A big tip of the hat there Shack! Right on the money and brutally honest.

Gordon

dragon1952

dorokusai wrote: »

These are the folks responsible for this ridiculous situation....you don't want to wake up and find these idiots in your house.

The 2 on the ends look wast-ed! (I believe that's Russ and Doro) Good job, fellows!

Pauly

They can barley hold their eyes open....

Hmmmmmmmmm


Pauly