I hate banks (Rant)

[kenimpzoom]

I hate banks. <br /><br />I need a new ATM card cause I wore this one out (or maybe the wife did?) Anyway, it doesnt work any more. So I ask for a replacment, but I want to be sure I still get the high daily withdrawl limit. I travel a lot and I need to be able to get a wad of cash quickly sometimes. I argued with the teller to make sure it has the high limit. She cant guarantee anything. I say fine, if it isnt right, "I'll be back".<br /><br />Last time I did this they gave me a new card, but limited me to only 300 bucks a day via ATM. If I want more I have to go to the bank. I dont have time to go to the bank. So I ask them to raise my limit. They refuse. I say, but my old card had a high limit. They say they cant raise mine on new card cause I had a couple of bad checks (my fault, I forgot about them). Maybe they can raise it later. Then they say, all other banks have a low limit. I say "just cause all banks do it, doesnt make it right" (reminds me of my mother). Then they say its also for my protection. I say BS. The limit if you use ATM card for a credit card purchase is 3000, but ATM cash is only 300. If someone found my card wouldnt it be easier for them to forge my signature to make a 3000 dollar purchse than it would be for them to use ESP to get my PIN to make a 300 dollar withdrawl?<br /><br />In the mean time, I suddenly get another ATM card in the mail to replace the worn out one. IT HAS THE HIGH LIMIT!! I tell no one cause if they find out I am withdrawling large chunks of my own money, they may hunt me down.<br /><br />After all it is my money, they only let me get out a certain amount at a time. Hmmm. I wonder if they have a vested interest in keeping my moeny in the bank. You think????<br /><br />Again I hate banks. Problem is, if I change banks I get the same treatment. Were all trapped!!!<br /><br />Not to mention the 5 bucks they make if I dont use their ATM. Not to mention the 30 bucks they charge if I go one cent into the red!!!<br /><br />I HATE BANKS!!!!!!!!!!!!!!!!!<br /><br />Ok I feel better now.<br /><br />Ken

 

[Stratosfied]

Re: I hate banks (Rant)

Ken, at one time it was not uncommon for my wife to get paid 20K from her business. I regularly made deposits of 5-6k. (this is when she bought me my boat ). One time I made a deposit of 1105.00. The receipt said 11050.00! This is a simple mistake. But did they correct it, you bet they did. Now if you or me would have done the math wrong we get slammed with a big fee. Banks just seem to be a big rip off and now I pay most of the bills that I have to mail with USPS Money orders.

 

[samagee]

Re: I hate banks (Rant)

The other part of the problem with a low withdraw limit is on the weekends. Your daily limit includes Friday afternoon until Monday afternoon, or Tuesday morning depending on the bank. I have been there. Although they usually didn't reset my withdraw limit. I had an ATM eat a debit card once, because it got stuck. I actually stood there until I heard it shredding the card inside the machine. I then called the bank to let them know imediately what had happened.<br /><br />Now that more places have the debit and credit card machines at the cashier, I don't normally have to withdraw large amounts of cash. About the only time I do that anymore is at a flea market or I see something at a yard sale.

 

[SpinnerBait_Nut]

Re: I hate banks (Rant)

Ken they(banks) do have an interest in your money, where do you think they get money to make loans, etc.<br /><br />From people that have savings and checking accounts in their mank.<br /><br />They use your money to work with.

 

[kd6nem]

Re: I hate banks (Rant)

Credit unions work like banks except they still remember what customer service is!

 

[cajun555]

Re: I hate banks (Rant)

My bank sent me a new guidline for making a check deposit: Say for instance you give me a check, I deposit it and I now have a deposit reciept from the bank. Now the bank loses destroys or otherwise mutilates the check, the bank will charge back my account the deposist I made. Now I go back to you, have you stop payment on original check, you issue me another check minus the charges for stop payment and I redeposit check. The bank will credit my account the full amount of originale check. <br /><br />Its hard to believe they can do this, or they would do this and I've got a deposit reciept. It shouldn't be my fault that they can't take care of there on buisness.

 

[dogsdad]

Re: I hate banks (Rant)

Years ago, I went to an ATM to get my cash for the 4th of July weekend. I was otherwise broke. For some reason, I stuck the card in the machine and then piddled around with my checkbook before entering the amount of money I wanted. When I looked up, it was just in time to see my ATM card get swalllowed by the machine. I was flabbergasted, to say the least, and words errupted from my mouth in a manner of which I am not proud. I stopped my ranting when I noticed the little camera built into the machine that was pointed right at my face. I often wondered if there was an active microphone too.<br /><br />I spent the holiday weekend broke, or at least severely hampered. <br /><br />I do find it odd how banks always seem to benefit by mistakes, whether they be mine or theirs. I learned a long time ago that anytime there's an overdraft, the sequence of checks processed is always such that overdraft fees are maximum.<br /><br />It's not just the banks, though. American business has generally taken a turn toward the shady side, and it seems everyone is pushing the envelope to get away with most shennanigans possible. If they don't go to jail for it, they seem to think it's okay.<br /><br />One exception is the firearms industry. This is one area where the customer is still valued, even after the company already has his money.<br /><br />I think it's all just a sign of the times.<br /><br /> <br /><br /><br />-dd-

 

[CoachHolland]

Re: I hate banks (Rant)

Originally posted by dogsdad:<br /> Years ago, I went to an ATM to get my cash for the 4th of July weekend. I was otherwise broke. For some reason, I stuck the card in the machine and then piddled around with my checkbook before entering the amount of money I wanted. When I looked up, it was just in time to see my ATM card get swalllowed by the machine. I was flabbergasted, to say the least, and words errupted from my mouth in a manner of which I am not proud. I stopped my ranting when I noticed the little camera built into the machine that was pointed right at my face. I often wondered if there was an active microphone too.\

That's to protect morons like me who tend to forget that their card is in the machine and drive off.<br /><br />I've done that on two occassions. My bank now has a little note stating not to forget your ATM card after you're done.

 

[SoulWinner]

Re: I hate banks (Rant)

You guys want to really get freaked out about banks??? Do a key word search on "fractional reserve checks" or "fractional reserve notes." Only a very few people know how the banking industry in the United States works, and some of the games they can legally play with money. IBoats forum members should form our own bank, and play the game!<br /><br />I used to hate my bank. Then one day I announced to the entire staff of the Bank that they were cordially invited kiss my behind behind, and that thier financial institution sucked (remember, I told you all I was rough around the edges...) This was after 14 years of doing business with a bank that treated their customers like trash, unless you had hundreds of thousands of dollars in there. At the time we were depositing more then 90% of their customers, but still hadn't made it into their "High Roller" status. Anyhoo, the Branch President closed my account for me....on the spot. I was overjoyed!!! It is such a pain in the neck to change banks, but when you get kicked out of a bank, the choice to do it is made for you, and I had been wanting to use Compass Bank for years (We were using Regions Bank at the time). Compass actually appreciates your business, and has lots of customer service perks to attract new customers. Well, we don't have Compass in our town, and I didn't want to have to go to Pensacola to get to the bank, so I opened our new accounts with Bank of America (BOA). They are very similar to Compass with lots of free stuff, a totally different approach to customer service, and little innovative things, like putting your picture on your ATM/debit/credit card. I love Bank of America, and I have noticed that everyone has a gripe about thier bank, with the exception of BOA. I don't know anyone who doesn't like BOA!

 

[kd6nem]

Re: I hate banks (Rant)

I HATE Bof A! (Not to be contrary, SW.) But when I was a young college kid (maybe 1981 or so) they had a nasty habit (for which they later got into much trouble) of running the deposits after the outgoing checks. That is stinky enough, but they were running my checks through and bouncing the same one twice in a day, on not just one day! The funds were there, but they were ignoring them. My grandfather banked with them. My dad not only banked with them but was a loan officer for them. Over 80 years of tradition gone. Me, never again!<br /><br />Marine Midland not much later did some interesting things with my student loans. They refused my payments for a couple years after they screwed up their computer system. They lost my loan. Of course I was fortunate to have lots of documentation for the dozen or more hours on the phone with them and multiple letters they brushed off. They suddenly got really rude, but I was able to make them back off when I proved it was their error. That was a real bear. Almost had to get an attorney involved. <br /><br />Now Washington Mutual (mortgage dept.) has TWICE sent my homeowner's insurance their payment. But it never got there. Last time it was by overnight courier, supposedly. I am still investigating. I do not care for the attitude of a local branch (I'm so spoiled by my credit union, I guess), nor for all the hassles WM has put me through over the last couple years since they acquired the mortgage company which had aquired my originating mortgage company. Every time a merger happens the customer things get all screwed up because their left hand has no idea about their left. I suspect something happened along these lines since I was just issued a new account number again. But to be perfectly honest, this time I don't for sure know where the problem lies. (Insurance company assures me it is not them, and to date I've never had problems with them. Maybe a first??) Wherever the blame belongs, I'm pretty steamed about having to pay a $600+ insurance bill TWICE! <br /><br />So I am in the process of refinancing. With whom? My CREDIT UNION. Their rates are better than anyone to boot! By the way, guys, have I mentioned that I really like my credit union?

 

[muskyone]

Re: I hate banks (Rant)

i hate boa thay get sued all the time they were holding my deposits for 12 days and bounceing cks wich made no sence becuse when i found out they were holding my pay cks that long i would go through the drive through and cash them then go inside and and deposite the cash dang my spelling sucks mybe i should go yell at my english teacer now

 

[brother chris]

Re: I hate banks (Rant)

I, as well, hate it when they limit me to how much of my money I can have a day. What are you...my parents? It's MY money. <br />Sometimes I need to take money out for rent, and on the same day I need money for....other stuff. There shouldn't be a limit on how much you can take out if your credit it good. <br />It's all bunk!<br />Whew....I feel better.

 

[SoulWinner]

Re: I hate banks (Rant)

Yes, Credit Unions ARE better than banks. You can develope a closer relationship with them, and the are way more responcive to the needs of the customer.<br /><br />BOA has overcome some of thier problems in recent years. Still not perfect, but better then Regions. One reason I like BOA is they are a ntional chain, with international branches. I keep deluding myself that oneday I might break tiny little burg in which I fritter away my days and see this country, or maybe the world, and I could still use my own bank where I went. Will it ever happen? I don't know, but it is something to dream about. <br /><br />Seriously, everyone should do a little research on fractional reserve notes and the banking industry in general. knowledge is power, and in this case knowledge will tell you how little power we have when it comes to banking in general and monitary systems specifically.<br /><br />Musky, you cracked me up. Thanks for the laugh bro!

 

[CoachHolland]

Re: I hate banks (Rant)

I think that when you're dealing with national banks and banks that have gone through a lot of mergers, then you're looking at getting problems. I've dealt with several over the years, but was never happy until a few years ago when I went with a local bank for both my business and personal accounts, along with a loan or two.<br /><br />Everyone there knows me by name. I can call them up on the phone and speak with someone and get something done that would normally require me to be there in person with anyone else. They've made a couple of mistakes in the past, but have always been quick to handle them for me. As far as daily limits, their's must be pretty high. The largest counter withdrawal I've made was around 10K and it was no hassle with them at all.<br /><br />The ATM card that was swallowed (that was my fault) was replaced in a day. I've discussed my needs with them and I have a higher daily limit on it than normal.<br /><br />Anyway, they have a few branches around town and a few branches in surrounding communities. The personal service has been nothing but impressive.

 

[dogsdad]

Re: I hate banks (Rant)

I agree about the credit unions. Mine is Motorola Employees Credit Union, and I couldn't ask for better treatment or service. <br /><br /><br />-dd-

 

[kd6nem]

Re: I hate banks (Rant)

WM admitted THEY are the ones who screwed up, but they so far have no clue how to fix it. They owe me $600 right now! Think I'll charge them penalties, interest, and late fees!!! Got my insurance cancellation notice today, though it is really still in effect since I charged it to my Visa card. But WM did not call me back today as promised. Maybe I'll call up the Clark Howard show. I gotta get this refi wrapped up quick, before WM REALLY screws up!

 

[ae708]

Re: I hate banks (Rant)

The bank I used before I moved to another town had a $500 per day limit on the ATM. I told the girl that I was going to Greece for a few months and she gave me her email addy at work. She told me that if I needed anything... withdrawal increase, emergency wire transfer, etc, to just drop her an email and it would be taken care of that day. This was a small local bank. Great to work with. I sure wish they had a branch here. <br />Another thing that happened while I was there.... when I used the ATM at the Bank of Greece I was charged $1.00...not the $1.50 to 2.50 that I am charged in the US. This from a bank thousands of miles from my home bank... not just on the other side of town.

 

[kd6nem]

Re: I hate banks (Rant)

For what it is worth I should add this update: It looks like WM is finally getting their act together. I gave up on the phone cust svc people and found a really decent one by e-mail. Looking up now.<br /><br />I don't want to leave all with only half the story. I'll tell it how it is without sugar coating, but it is only right to say they are getting it fixed now.

 

[Link]

Re: I hate banks (Rant)

Good deal BP<br />BTDT like everyone else.<br />SW you talked me into looking that up <br />However another (somewhat honest way) banks make money.<br />This does not effect the customer<br />In 1984 while getting Travelers Checks at a Credit Union in Korea for a trip to Hawaii a friend spotted me who was a manager there so we went to lunch together.<br /><br />(I highly suspect this is part of what you might find in SW post he wants you to read even though I haven't read it yet. Everyone is encourage to purchase Travelers Checks instead of cash when going out of country "because if lost or stolen can be replaced" hehe)<br /><br />Anyway he explained that Travelers Checks were "FREE" money to banks to invest. The average time for a TC to come back is 60 days.. Your/my money they have at no cost for two months.<br /><br />So I asked him "what if I had used one to pay for our lunch" (it was my turn to buy). He said it would be deposited tonight with a daytime stamp and would reach his credit union (a two minute walk) 60 days from now with a <br /><br />This was from a little one story (about 3000 sq ft) credit union. And they were/are making millions every year from just Travelers Checks.. <br /><br />Since it did not hurt me the customer or the retailers where I spent the money I considered this a smart use of others money..<br /><br />Mabe someone here more educated in this will be able to explaine who got the short end of the stick on this one.<br /><br />Link

 

[kd6nem]

Re: I hate banks (Rant)

Update: WM sure knows how to prolong the misery! Looks as though I'll be refunded MOST of my money. They decided to keep not quite a hundred to put in my escrow account. So nice of them. So I'll only be out my $500 for about two months. Then it will take me another year to gradually get the other hundred back. How very thoughtful of them! Why would anyone want to do business with an outfit like this??? Don't they realize if I had waited to pay my insurance that I could have probably sued them? I bailed them out, and this is how they repay me??? I asked them to cut the nonsense and just overnight a check for the full amount, but by now my expectations are so very low... Grrrr...