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Sort of the same things the Very High Banking Fees are already doing -- especially to folks on the Poor End of things, as an Economic Tax on the transaction(s).
Some Examples:
1. Check Cashing Fees -- even at the Teller Window of the Bank at which the a check is drawn (how can THAT even be legal?) It is about like me charging a Vendor for paying his bill.
They are charging you a fee because they are performing a service for you, a non customer. If you were a customer of theirs you could make a deposit without issue. Why wouldn't it be legal?
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2. Intentional Overdraft Fees -- from slowing (or even reversing) the clearance of Good Checks.
I'm pretty sure that this has been eliminated and many lawsuits and settlements occurred to address this. Another way around this is simply not to write bad checks
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3. Merchant Fees by the banks on VISA, MC, and other CC payments.
Why not charge merchant fees if the customer's form of payment cost you money to process? I don't really run into this issue though
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Many more, but I think that sets the idea?
All fees, and taxes on the Money, itself.
Just Negative Interest is a little more blatant and obvious. But don't worry, if things become so, it will become the New Normal, and folks will say it is all Okay (if it does not directly hit them) like 1, 2, 3, above.
1, 2 and 3 above are self generated issues, if you don't like it change your behaviour instead of making excuses
They are charging you a fee because they are performing a service for you, a non customer. If you were a customer of theirs you could make a deposit without issue. Why wouldn't it be legal?
I'm pretty sure that this has been eliminated and many lawsuits and settlements occurred to address this. Another way around this is simply not to write bad checks
Why not charge merchant fees if the customer's form of payment cost you money to process? I don't really run into this issue though
1, 2 and 3 above are self generated issues, if you don't like it change your behaviour instead of making excuses
omigod. Too Funny.
Absolutely proof.
You do follow that 20 or 30 years ago these ALL would have been completely unacceptable and now you (not picking on "you" at all, you follow?) can completely "justify" them?
All I am saying is that Negative Interest is completely the same in application.
You do follow that 20 or 30 years ago these ALL would have been completely unacceptable and now you (not picking on "you" at all, you follow?) can completely "justify" them?
All I am saying is that Negative Interest is completely the same in application.
Folks will cave in
They are so ready for negative rates, one can't find a better time to implement.
You do follow that 20 or 30 years ago these ALL would have been completely unacceptable and now you (not picking on "you" at all, you follow?) can completely "justify" them?
All I am saying is that Negative Interest is completely the same in application.
Charging someone a fee for a service was complelty unacceptable 20-30 years ago? A bank bouncing checks was in acceptable 20-30 years ago? Structuring payment order for increased bounce checks is unacceptable and as I stated above I believe that's been addressed.
What bank in the US has a negative interest rate? Let's start there.
That is a bizarre J.Tomas thing. He saw some article speculating on the possibility of negative interest rates which morphed into him claiming "most" see negative interest rates coming, and from there he's now acting like we have negative interest rates.
This would be the same guy who started the "retail is in a major recession!!!" thread back in November based on Target closing some stores, despite November, December, and January all showing no recession in retail spending. Apparently the numbers are lies since they don't agree with his tidbits of info like Apple stock being down to prove a major recession.
Some people have conclusions and they'll suspend reality to chase them.
No bank in the US has negative interest rates because the Fed has not instituted negative interest rates.
But Yellen did say that it's not off the table and they are studying the legality of doing it.
Other countries have gone negative.
BOJ went negative last month.
Local Japanese banks are still positive but %0.001 gets you one penny a year on $1000 while the ATM fee is $1.00
The WSJ reported two days ago that there has been a run on safes by consumers.
They are buying them all up as well as reserving safety deposit boxes in the bigger banks.
No bank in the US has negative interest rates because the Fed has not instituted negative interest rates.
But Yellen did say that it's not off the table and they are studying the legality of doing it.
Other countries have gone negative.
BOJ went negative last month.
Local Japanese banks are still positive but %0.001 gets you one penny a year on $1000 while the ATM fee is $1.00
The WSJ reported two days ago that there has been a run on safes by consumers.
They are buying them all up as well as reserving safety deposit boxes in the bigger banks.
The days of hiding your money in your mattress are coming back! If you're only earning a penny on a thousand dollars, there's absolutely no reason to keep your money in a bank....see where that will lead?
The days of hiding your money in your mattress are coming back! If you're only earning a penny on a thousand dollars, there's absolutely no reason to keep your money in a bank....see where that will lead?
I'd still keep it in the bank because trying to insure large sums of physical cash in a renter's policy is next to impossible.
The days of hiding your money in your mattress are coming back! If you're only earning a penny on a thousand dollars, there's absolutely no reason to keep your money in a bank....see where that will lead?
Switzerland as well. There's been a steep rise in the 1000 franc in circulation..over 17%.
People are withdrawing money in big bills and keeping them at home.
Now the Central Banks are talking about getting rid of the big bills so they are no longer in circulation and that includes the US and the $100 bill.
The bankers say it's because that's what the criminals use and if taken out of circulation crime will go down
I don't think it will stop withdrawals.
Other economists say the only way to force negative interest rates on the public is to go to a cashless society and then people have no choice.
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