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If my bank does this then we'll either return to checkbooks or go back to cash only. Some of us lived many adult years before debit/ATM cards were invented. We'll adapt to that life once again.
True enough, although I recall that in the early 1970s my bank charged various fees including 1) failure to keep minimum balance; 2) a fee (a cent or two) for each check written (I recall that if I wrote a lot of checks during a month my fee may reach $1 or so). There were probably more fees but I can't recall what they were.
In short, I was quite pleased when it got to the point of 'free checking' and 'free atm' and 'free debit' etc.
I especially liked how I no longer had to purchase those American Express traveller's checks when going abroad (or even traveling within the country).
Anyway, $60 per year is not going to break me. I imagine most banks will follow suit at some point. Since I get direct deposit to my account, plus have various autodrafts in play, it would be too much of a hassle to try to move to another bank.
[quote=mhouse2001;21089861]So it's the Democrats or liberals fault your bank is charging you $5 but there's not a peep about the profits they make with fractional banking and charging interest on loans? You buy a $150,000 house and pay $300,000 for it and that's OK? Tell me when enough is enough. Are we supposed to just let the banks run amok and charge 1,800% interest?
QUOTE]
You can pay cash for you house just like I did which means you pay what it cost...The bank is doing you a favor and they don't have to, they take the risk and can charge you whatever and you don't have to sign and buy the home...this is called the land of the free!
Yes it is Democrats fault! Dodd/Frank wanted the banks to loan money to lower incomes since it was their right to buy a home even if they couldn't afford it! This is the result from liberal decisions!
Apparently the free money BofA got to loan us at high rates isn't enough for them. Greedy pigs. Personally, I feel that beating the crap out of the execs at BofA is the thing to do. I live in Charlotte and see their building every day. Meet them in the parking garage and smack them over the head with a tire iron. Who's with me???
I can't believe so many people are STILL with those banks that caused this fiasco.
Local banks and credit unions. I don't pay ANY fees and haven't for years.
Put your money where your mouth is..don't like those big banks then don't do business with them and don't give them your money.
Quote:
Originally Posted by reconmark
Credit Union, only way to go. I laugh at people doing business with the banks, I stopped over twenty years ago when they started charging me to take my own money out of an ATM.
I've held my nose with BofA because I couldn't find a better alternative with branches everywhere. Now I'm unemployed. It seems you have to have an employer in order to get into a credit union. And I don't live near where I went to school. Any advice?
Quote:
Originally Posted by bentlebee
You can pay cash for you house just like I did which means you pay what it cost...The bank is doing you a favor and they don't have to, they take the risk and can charge you whatever and you don't have to sign and buy the home...this is called the land of the free!
Yes it is Democrats fault! Dodd/Frank wanted the banks to loan money to lower incomes since it was their right to buy a home even if they couldn't afford it! This is the result from liberal decisions!
I don't blame the liberals on this one because I don't blame the mortgage disaster for the economic collapse. I blame the banks and their greedy 'instruments' to create money out of nothing.
By the way, I can buy a house for cash and have come real close to doing so. But most people cannot do this and end up paying twice what the house is worth. I believe in Muslim and other countries, there is no interest, no usury. It's morally wrong there but we can't get enough of it here.
So it's the Democrats or liberals fault your bank is charging you $5 but there's not a peep about the profits they make with fractional banking and charging interest on loans? You buy a $150,000 house and pay $300,000 for it and that's OK? Tell me when enough is enough. Are we supposed to just let the banks run amok and charge 1,800% interest?
Yes. Government should not tell banks what they can charge. Banks should charge whatever they choose.
If you don't like it, go to a different bank. Or better yet, don't get a loan.
Banks that gouge customers eventually will go out of business.... or change their pricing.
Remember, this is the same bank that pulled up American flags placed in front of their branch for a memorial for the return of a US Marine who died in combat. Their "branch manager" had pulled them up and said it was company policy not to fly any flags. This happened in 2009 and upset so many people that an entire county government pulled their money out of their bank along with many around the country. I was never with BofA and I never will be.
I've held my nose with BofA because I couldn't find a better alternative with branches everywhere. Now I'm unemployed. It seems you have to have an employer in order to get into a credit union. And I don't live near where I went to school. Any advice?
Many credit unions offer memberships based on location (in a particular county, city, state, etc). Also, do any of your relatives and/or friends have a credit union membership? If so, you can qualify that way as well.
Just make sure that the credit union you join is a part of the CO-OP network. You'll have access to thousands of ATM's, banking locations, etc.
Maybe start off going here CO-OP Financial Services and seeing what credit unions are near you. Call them up/check their websites and see if they can help.
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