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I use USAA. Instead of adding fees they removed the debit card reward program. They actually had its member vote about it and the majority voted to remove the debit rewards vs adding fees.
I do have a BOFA account which I am closing tomorrow. I used them as my local bank but never liked them or their service. USAA is unbeatable!
But I also signed up with WINGS Financial Credit Union. I need to have local branches for everyday "banking needs".
My meaning was the relative comparison of BOA fees to what the good percentage of Americans pee away paying high interest rates and and other frivoulus things. Think about it, a lot of people will live with high interest rate credit cards or think nothing about a five dollar latte every day, but they will freak out about a five dolar monthly fee. Not many people complained about the fees involved when they tapped their homes in order to take money out.
My meaning was the relative comparison of BOA fees to what the good percentage of Americans pee away paying high interest rates and and other frivoulus things. Think about it, a lot of people will live with high interest rate credit cards or think nothing about a five dollar latte every day, but they will freak out about a five dolar monthly fee. Not many people complained about the fees involved when they tapped their homes in order to take money out.
Don't lump the responsible people who pay their bills on time & live within their means, with greedy people who cashed out on their homes to live high on $5-$7 coffee!!! Corrupt bankers & politicians caused the economic problems & are trying to make the people who live a responsible life to pay for their irresponsibility. They are using my deposits to make themselves money. They had best not charge me for their use of my money or run up retail prices with excess swipe fees.
Don't lump the responsible people who pay their bills on time & live within their means, with greedy people who cashed out on their homes to live high on $5-$7 coffee!!! Corrupt bankers & politicians caused the economic problems & are trying to make the people who live a responsible life to pay for their irresponsibility. They are using my deposits to make themselves money. They had best not charge me for their use of my money or run up retail prices with excess swipe fees.
It seems those of us that did not overwhelm ourselves with debt and have a little cash in the bank are a minority after the smoke cleared from this last economic expansion that was artificially expanded based on the use of credit. Blame goes out to a lot of different entity's, those who lived within their means will be contributing for others mistakes for a while.
Don't lump the responsible people who pay their bills on time & live within their means, with greedy people who cashed out on their homes to live high on $5-$7 coffee!!! Corrupt bankers & politicians caused the economic problems & are trying to make the people who live a responsible life to pay for their irresponsibility. They are using my deposits to make themselves money. They had best not charge me for their use of my money or run up retail prices with excess swipe fees.
I agree. BOA has so many lawsuits that they are drowning. There fees are to recoup some of their mistakes. What mistakes? Poor management, corruption, a lose of many shareholders and customers, Countrywide lawsuits, malicious practices and on and on. They are trying to keep their head about water while still paying greedy management millions of dollars each year. Instead of making top management held accountable they just switch management and pay the old management that they moved down the ladder or fired big severance packages. Yet they lay off thousand of employees for management corrupt.
SEC has charged Bank executives with hiding millions during the financial crisis today. There will be more to come from these big banks.
I wonder what will happen if the credit unions start charging money, becoz believe it or not, in a world of evolving banking, nothing is going to be free forever, and that includes stone age institutions like credit unions too. At some point, they need to invent the wheel too and move forward.
And that's what is making me chuckle at this outrage.
If people think they can park their money for free in some place, they might as well dig a whole beside the dog kennel and put it in there, right? What is the need for a bank even?
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