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oh nooooo ! I just opened up a Capital One checking account today.
I decided I wanted a change from TD Bank (Commerce) because CO was offering rewards for everytime you used your debit card..etc. And I use my debit card all the time. Never carry cash.
Not sure what I should do after hearing everyone's negative complaints.
Whats the difference between the Corporate banks and the Credit Union banks? Which is safer to bank with?
There should be no motivation to screw customers, as you don't have stock holders who want a cut. The stock holders or share holders are the depositors in the credit union. So, in essence, when you put money in, you are actually buying shares. This is the reason that interest returns almost always are higher than that of corporate banks, and interest rates on loans are much lower. The profit motive is yours, not some detached ******* 1000 miles away.
I have that one with Citibank. I have never had to use it though, so I wonder if they add a "transfer fee" if someone actually does. These banks are all looking to nickel and dime us to death.
This Citibank feature is known as SafetyCheck. And as of a few months ago, anytime Citi has to move money from another source to cover a check INCLUDING overdraft, you are charged $10. This may be different for Citigold customers though.
Excuse me, but if YOU aren't spending money you DON'T HAVE IN YOUR ACCOUNT, they can't charge you overdraft fees, can they?
Why would you have 1K in your account, have a $975 check floating out there, and spend $50??? YOU put YOURSELF into an overdraft, not the bank!!!
Don't you know that, once you write that check... cashed or not.... the money no longer exists in your world??? That's how you have to look at it. Not "well, they didn't cash it yet, so let me grab $50 and I'll replace it later on"
If you can't keep track of your finances, then you need to sign up for overdraft protection.
Excuse me, but if YOU aren't spending money you DON'T HAVE IN YOUR ACCOUNT, they can't charge you overdraft fees, can they?
Why would you have 1K in your account, have a $975 check floating out there, and spend $50??? YOU put YOURSELF into an overdraft, not the bank!!!
Don't you know that, once you write that check... cashed or not.... the money no longer exists in your world??? That's how you have to look at it. Not "well, they didn't cash it yet, so let me grab $50 and I'll replace it later on"
If you can't keep track of your finances, then you need to sign up for overdraft protection.
Evidently, you didn't read my post. Go back and reread. When you get the point, try again.
id never write checks and try to play the time the clearing just right game.... never been an issue for us
Where I screw up, I have no problem paying a fee.
However, I've switched my dependence from a paper ledger to the electronic ledger. When I sit down and reconcile on the weekends, I assume that the numbers on the online ledger are accurate. They aren't. They change.
Last night I noticed that CapitalOne still has a pending hold on a transaction that they already cleared. In essence, the charge has been removed, but then the value of the charge has, in addition, been removed from my available balance. That transaction was completed 4 days ago.
How they clear deposited checks is also capricious. First off, the bulk of deposited checks are deposited on Friday and Saturday. CapitalOne doesn't do any banking on the record on Saturday. So, if you come home from work with your check on Friday, deposit it, and then debit something, that money won't be available until they decide. The date it clears will shift from week to week.
What isn't fair is gaming how debits and checks are paid in order to maximize fees, and dorking with how those debits and checks are documented in the ledger.
Please. If you keep track of your account properly, you won't have overdrafts. I have never ever had an overdraft (even when I had overdraft protection).
If you deposit a check, wait until it totally clears before you start spending it. Checks from different banks, different states, etc take different amounts of time to clear. And, to avoid this, you can have your paycheck direct deposited.
Bottom line is, 1. don't spend what isn't yours yet and 2. keep track of your deposits and debits (that's what receipts are for). If you make a CASH deposit on Thursday, spend it on Friday and they charge you and overdraft fee, you will have proof of the order of events if you hold onto your receipts. You can't cry foul for spending a check that hasn't cleared yet (FYI, checks can take up to 10 business days to clear)
id never write checks and try to play the time the clearing just right game.... never been an issue for us
Neither do I. Once I write a check, the money is gone as far as I'm concerned. If I deposit a check, those funds aren't touched until that check completely clears. I also check my accounts in the morning and the evening everyday to make sure no funny business is going on.
Please. If you keep track of your account properly, you won't have overdrafts. I have never ever had an overdraft (even when I had overdraft protection).
If you deposit a check, wait until it totally clears before you start spending it. Checks from different banks, different states, etc take different amounts of time to clear. And, to avoid this, you can have your paycheck direct deposited.
Bottom line is, 1. don't spend what isn't yours yet and 2. keep track of your deposits and debits (that's what receipts are for). If you make a CASH deposit on Thursday, spend it on Friday and they charge you and overdraft fee, you will have proof of the order of events if you hold onto your receipts. You can't cry foul for spending a check that hasn't cleared yet (FYI, checks can take up to 10 business days to clear)
This is where reading is a valuable thing. I didn't have an overdraft.
I'd go on, but you aren't interested in letting facts get in the way of your point that it's always the the person's fault - never the bank.
So long!
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Go back and read my post...
