U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 09-26-2012, 06:39 PM
 
Location: Planet Eaarth
8,954 posts, read 19,392,399 times
Reputation: 7193

Advertisements

Banks want to make more and more money for less and less service.

"Facing new government regulations and a lackluster economy, the financial industry is forcing customers to pay more just to park their money at the bank"

Is the era of free checking accounts over? - The Week
Rate this post positively Reply With Quote Quick reply to this message

 
Old 09-26-2012, 06:49 PM
 
Location: On City-Data
16,781 posts, read 15,249,996 times
Reputation: 19881
I think it is fair to charge a reasonable fee for their service. Right now, my bank stores my money for me, clears my checks for me, provides ATM machines for me, provides any denomination of cash and coins for me, etc. and I pay them absolutely nothing (except what they make off of using my money to lend to others).
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-26-2012, 06:53 PM
 
19,676 posts, read 17,725,332 times
Reputation: 7630
It was free? You mean like an air craft carrier is "free".
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-26-2012, 06:57 PM
 
Location: On City-Data
16,781 posts, read 15,249,996 times
Reputation: 19881
Quote:
Originally Posted by gwynedd1 View Post
It was free? You mean like an air craft carrier is "free".
Are you referring to FDIC?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-26-2012, 06:58 PM
 
Location: The Triad (NC)
32,214 posts, read 74,603,453 times
Reputation: 39560
Quote:
Originally Posted by Grandpa Pipes View Post
Era of free checking accounts is over
Banks want to make more and more money for less and less service.
They were NEVER free.
What's different today is the difficulty of hiding the income needed to pay for their services.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-26-2012, 09:07 PM
 
Location: Planet Eaarth
8,954 posts, read 19,392,399 times
Reputation: 7193
Quote:
Originally Posted by Retroit View Post
I think it is fair to charge a reasonable fee for their service. Right now, my bank stores my money for me, clears my checks for me, provides ATM machines for me, provides any denomination of cash and coins for me, etc. and I pay them absolutely nothing (except what they make off of using my money to lend to others).
WHOA!! Banks DO NOT physically "store" money for anyone. They bundle all the money they have in accounts and then lend it out as loans!!

Me thinks that you need to do some homework on how banks work!!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-26-2012, 09:13 PM
 
24,497 posts, read 38,779,844 times
Reputation: 12889
Currently my cash account does not charge me any fees and even eat ATM fees that other banks charge. However, I don't mind the banks charging a fee for letting me park my money there. The use experience that comes along with a bank account is well worth it for me.

As a bonus for them, they've managed to use my money to supplement their revenue, and it doesn't negatively impact me at all. Whenever I want my money, they give it to me. Excellent!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-26-2012, 09:36 PM
 
5,730 posts, read 9,500,820 times
Reputation: 7990
I'll never pay for a checking account.

Not for personal, or either of my LLC's

I'll go straight credit union (where my retirement check goes) first!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-26-2012, 09:52 PM
 
24,497 posts, read 38,779,844 times
Reputation: 12889
Quote:
Originally Posted by Themanwithnoname View Post
I'll never pay for a checking account.

Not for personal, or either of my LLC's

I'll go straight credit union (where my retirement check goes) first!
I am a member of the Navy Federal Credit Union. However, I don't really use them for my primary checking account. Their online interface sucks.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-26-2012, 10:12 PM
 
19,676 posts, read 17,725,332 times
Reputation: 7630
Quote:
Originally Posted by Retroit View Post
Are you referring to FDIC?
No. More like the ponzi expansion of credit to things not manufactured which means the banks collect the bulk of the inflation tax with no added value in the placement of credit. It is now being rolled onto the public account also in the hands of the banks when we gave them cash for trash. You don't want to know how much that free checking costs you.

Do you think that the interest spread on the collective average balance in checking account pays for this:

Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads

All times are GMT -6. The time now is 05:32 AM.

© 2005-2022, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top