Re: I HATE BANKS (part 3)!!!!
You overdraw your account and it's the bank's fault?<br /><br />First off, overdraft fees are not 100% profit. A fairly high percentage of the accounts that are paid into the overdraft (negative balance) never receive another deposit, the accountholder simply walks away. The bank is left with a chargeoff. Those fees offset those chargeoffs bankwide, sometimes very near breakeven.<br /><br />I HOPE that my bank will ALWAYS pay my large items first, that way my car payment and house payment get paid, and something small and less significant is rejected.<br /><br />Also, learn to balance your account. Never use the ATM balance for anything, it's worthless. Use a checkbook that you track thoroughly.<br /><br />It never ceases to amaze me that people will spend a greater part of their lives working for their money, and will spend as little time as possible caring for it. The bank is a safeguard, a storage location that provides services, not your personal recordkeeping assistant.<br /><br />As for the credit unions.... I will pull out my soapbox. Credit Unions were granted a charter to do business to provide deposit accounts and loans to groups of disadvantaged people that probably could not receive service otherwise. Today's credit union operation goes well outside of those boundaries and operates illegally. Credit Union are in direct competition with banks for customers, they no longer serve the poor destitute and disadvantaged peoples they once did. Furthermore, let me put into perspective the reason behind my animosity. If you owned your own business (many of you do), and your neighbor across the street did the exact same business you did, competed for the same customers, offered the same products, and his building and facilites were just as nice as yours..... but he didn't have to pay a single cent of income tax because he claimed to be non-profit, therefore he lowers his prices making it difficult for you to stay in business (maybe you would even raise your fees?!), would you be upset? Furthermore, he "retained" earnings (known as profit) of millions to billions each year while you paid a burdensome tax, would that seem fair to you?<br /><br />Credit Unions operate precisely that way, I hope for the day the lawsuits are successful and they either 1) leave or 2) begin paying taxes. We will see.<br /><br />Drowned Rat... if I'm not misunderstood (correct me if I'm wrong) the bank that took the car payment is not the same bank that your checking account is with. So, the fault lies with the lender who took the payment early.... but good luck getting them to reimburse a different bank's fees.
