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We had Commerce in Kansas (it is the same bank, right?) Regardless, they were TERRIFIC to work with, but truly - I never phoned them - I went over to see them (they were close by) and I just enjoyed the tellers, LOL. So I liked going by there!!! Great service.
Thank you for the Rep. Yeah it's the same bank, I did the same thing, I never really called them, just went in person. Never had one problem with them!
Thank you for the Rep. Yeah it's the same bank, I did the same thing, I never really called them, just went in person. Never had one problem with them!
You know, I never hve gone to my bank in the mornings - I always bank b/n lunch and 2 pm - hate to go early cause I like to knock out the bulk of my work b/f lunch if possible.
I wonder if my bank DOES have coffee and cookies in the mornings?
That is what we need, Nirvana. A bank that serves good coffee!!! At least that would make everything more pleasant to deal with, LOL!!!!!
I disagree... No one forces us to use Banks, but obviously they are pretty much a needed entity. Credit is needed for so many things and I predict in the near future cash will be harder to use. Credit is luxury and yes there is some trickiness in there. But in most cases you don't have to pay fees. the major Banks don't charge fees for regular use, atm, teller, etc. I know they are big companies and appear to be evil, but they try to make money like everyone, but they make money off our money, which is kind of ahead scratcher sometimes. Again not one has to use them, but I like the interest, protection and my Amazon points.
Of coarse, everyone has a choice to use or not use CC's. Like you say, it'll eventually be a necessity. So it's about time someone put the reins on these companies.
All companies are out to make a profit of coarse. I have no problems with that. However, the American CC industry alone earns a profit of $30 BILLION every year. NOT $30 million; $30 BILLION! And they still want more. Just like the oil companies.
Fees and points have no limits. They are the fine print, the name of the game, the bread and butter of the consumer lending industry. Basically interest rates may be limited, but the fees are carte blanche, and CC companies take full advantage in every way possible. Let's call a spade a spade and let's call these fees what they really are.....INTEREST.
The banks and CC companies can charge any number of fees, in any amount, and call them anything they want; activation fee, annual fee, monthly maintenance fee, sign-up fee, credit protection fee, late fee, over limit fee, we-are-greedy-fee and the net effect is that we, the "consumer", could end up paying 50%, 60% in "interest". Basically the banks are allowed to be legal loan sharks.
Ever here of "Providian""? Well they are/were a CC company. This company was investigated for fraud and ended up paying somewhere around 300 million dollars to settle allegations of unfair and deceptive business practices.
I could go on and on about this subject, but I'm too tired, gotta hit the hay.
I do feel for those who have unusual circumstances and find these random fees popping up. What I don't get is why are people paying fees at all. I know not everyone is as analretentive as I am about their finances, but in the course of day to day finances, why do we pay fees? They usually occur because we do something out of the norm, miss a payment, etc. Banks have started offering more services which means more unique things can happen. They offer these services because people want them and helps them with their money. When Banks first started opening, they had 1 function, they would keep your money safe for you, then came loans. For the most part Banks would hold your money and pay you interest, they would loan out money and charge interest. They would charge more interest on what they lent than what they paid and thus they made money with that difference. If we never borrowed money we never would have these payments or fees. People wanted more conveniences, like ATMs, Debit Cards, Credit Cards, Drive Throughs, Online Banking, Multiple types of accounts, etc, thats when things started getting costly. Keeping things simple and you are fairly safe.
Credit Card companies do make a lot of money, but they don't have to. You can stop using them, you could pay it off every month and thus get a great credit rating. The Customer really has all the control in whether Banks or Credit Card companies make money. With oil companies we have less control, but are working on it with alternatives.
Ani, I feel your pain on this one. My son started working and driving last year so we opened a checking acct with ATM for him.
Being a naive kid, he deposited his paycheck one week and started buying things on his ATM, not realizing his paycheck is held for a few days before clearing at his Best Bank in Town. But, they promptly allowed the debit card purchases to go through and then plunked on $35 charges on each transaction.
We're not talking big deals either. He bought lunch where he works for $4.50 (now $39.50 thanks to the bank) and then still being hungry, he bought a $1 cookie (which cost him $36.00). His lunch came out to more than $75 that day thanks to these wonderful bank policies. He had several more charges before he realized he was operating in the deficit.
Why don't they reject transactions when the account is out of money??? Because todays banks are greedy and without conscience.
I am now my son's bank. He gives me his money and I play banker for him. Too bad I can't give him an ATM card! Anyway, I do keep $10 in his Biggest Bull in Town bank account just to make them eat the expense of maintaining his account and sending him a statement every month.
I'd like to bring his account over to my bank, but I'mnot so proud of them either. So, let us know when you find a good bank to recommend.
Holds suck. But be aware of them along with other policy and adhere to it. There's ALWAYS some buyer beware.
The reason for holds is simple - fraud. A brand new account isn't just going to be hold-free from day one. Ever since 9/11 and the Nigerian check fraud scams, there is a lot at stake.
JENNEJ - just took time to read your link . . . and that appears to have NOTHING to do w/ terrorists, yet that is what Customer Service told me when I called them! They said this was in response to 9/11 and terrorists who were laundering money.
Geeezzz. Reg D has nothing to do w/ legislation enacted after 9/11 if I read that info correctly.
Most CS reps don't know why Reg D is in effect, but it applies to ALL banks.
It's not YOUR bank RIPPING YOU OFF, it's federal law, like it or not.
Ani, what a mess of a nightmare....I would be upset too!!
We use BBT and I am sure we don't have a charge to see the teller as we go every week and then when I asked DH he said it is because we have our mortgage there, and some premium account. Am I going to have to deal with all that when we pay off the mortgage in a few years?!?! Pay to see the teller???
You don't ever "pay to see a teller" at BB&T. I've banked there for a while...that sounds like a load of crap. My mortage isn't with them and I have a "Free" account and I don't pay to see a teller.
Yeah - that is the strangest rule I have ever come across about using a teller - it is designed, I am sure, to cut down on use of the drive through windows - and encourage use of ATMs. I have called b/f about those charges and so has DH and they were adamant (but I just called the customer service number- not the branch bank). If we had gone back to the branch and said something - I bet they would have taken them off.
As for the phone charges - that can be avoided by just going in person to see the manager, so in the future, that is how I will do things.
In all fairness, I do have to say - the staff at the branch bank is very accommodating.
Most of the time it's better in person.
Think about it this way - if you're a CS rep, you get calls all day about people bitching - some rightfully so, some not. You also have a sheet of rules to abide by.
If you're in person and work at the branch, you can see who is talking to you...and while complaints do happen in-branch, it's not a constant, all-day thing. It's mostly based on human nature that the branch is a better resource for such things.
You don't ever "pay to see a teller" at BB&T. I've banked there for a while...that sounds like a load of crap. My mortage isn't with them and I have a "Free" account and I don't pay to see a teller.
I don't know what your point is to come on this old thread and try to start a fight.
Yes, BB&T only allows a fixed number of encounters w/ a teller and w/ phone calls a month. And I personally do not care if you believe it or not. I have gotten charged for those services, wh/ astounded me and that was the only way I knew they had such restrictions. Now, maybe it depends on what type of checking account you have. But yes, I have been charged for exceeding their allowed number of teller use as well as phone use during a cycle. And the only way I found out is b/c I questioned the charge.
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Because todays banks are greedy and without conscience. 
Anyway, I do keep $10 in his Biggest Bull in Town bank account just to make them eat the expense of maintaining his account and sending him a statement every month. 
