A letter to my bank (funds, payment, rent, rates)

[jtur88]

Originally Posted by Petunia 100

Just curious. Where do you imagine the money comes from to pay those salaries?

They borrow money from me at 1.25% interest, and loan it at 10-15% to secured borrowers with high Fico scores with a defalut rate of less than 5%.

[Petunia 100]

Originally Posted by jtur88

They borrow money from me at 1.25% interest, and loan it at 10-15% to secured borrowers with high Fico scores with a defalut rate of less than 5%.

You're getting 1.25%? Sweet!! Where are you getting that? Is it a jumbo cd or something?

[Zone Read]

I don't pay fees for checking accounts and am not required to have a minimum balance. I don't pay bounced check fees since I don't bounce checks. I don't pay interest on credit cards since I pay off my balance in full before the statement close date. I make tons of airline miles and hotel points by paying for everything with credit cards and taking advantage of the bonuses. Live within your means, pay bills on time and shop around for the best bank and you won't have any problems.

[chancellor14]

Originally Posted by jtur88

My bank sent me a survey, and there was a space for comments. Here's what I wrote:

"Same as for all banks -- stop charging heavy fees and penalties for penny-ante ****. Learn to be the friend of struggling people, not just another of their enemies with greed in their black hearts. Your competitors are the payday loan sharks, and your reputation is no better than theirs. How hard can that be? Your staff is paid a salary to be there for the customers' needs, both regular and irregular services. Just do it. Be better than the other guys."

I agree completely people here seem to be "best-friends" with the banks. All those charges just make life harder for the people and give the bank extra profits

[Lowexpectations]

Originally Posted by chancellor14

I agree completely people here seem to be "best-friends" with the banks. All those charges just make life harder for the people and give the bank extra profits

I'm not best friends with Chase but I don't bounce checks and I don't pay any fees whatsoever

[davebarnes]

Originally Posted by Driller1

I have to keep a business bank account....it is the law.

My business account is at my credit union. Has been there for years.

[Driller1]

Originally Posted by davebarnes

My business account is at my credit union. Has been there for years.

I am going to check local credit unions out.........really I never thought of them.

[Petunia 100]

Originally Posted by chancellor14

I agree completely people here seem to be "best-friends" with the banks. All those charges just make life harder for the people and give the bank extra profits

All what charges? I get free checks, free bill pay, free cashier checks, free brokerage trades, free notary services, free, free, free. The interest rate is abysmal, but I keep just what I need in the brick and mortar bank and stash the rest elsewhere.

I suppose if I bounced checks I'd be paying fees. I'm not going to try it in order to find out.

[Pitt Chick]

Originally Posted by chancellor14

I agree completely people here seem to be "best-friends" with the banks. All those charges just make life harder for the people and give the bank extra profits

Nope... not "best-friends" (sic).
Not even friends. Banks are a business, not a source of friendship. Sad that you think otherwise...

I get zero charges. No fees, no penalties, nada. Free checks too!

[Malloric]

The only fees that my credit union charges is $15/year for the ATM card. That's honestly a bit annoying, but whatever. I usually get $120/yr dividend for having an account there for basically forever. Not many banks do that.