OOPS! Turns out you should never question a bank

[BillyZaned]

oh, and Ace... by not paying that fee, and leaving the bank with a negative balance... your credit is going to drop big time... good luck buying anything or getting approved for a loan...

"um, sir, we seem to have a problem, seems that you have been to collections for unpaid overdraft fees in the past"

and whoever is giving you the advice to "wait" for the court case, is an IDIOT

 

[C. Lee]

The banks are really pushing the limits of legality with their charges.

I have a friend who got a job...and the ONLY method of payment is on this bank issued debit card. He does not receive a paycheck or anything, his money is directly deposited into an account. When he activated the card, there was a three dollar activation, then he HAD to call to get a password set up...and was charged again for setting that up. He wa charged again for setting up a direct deposit account into his primary checking, and is charged every time that happens. I hear that more and more businesses are switching to this format of paying their employees.

It seems like it's getting a little out of hand when access to your own money costs you money.

Sounds like you need to shop around the different banks in your area. Different banks have different policies on things like those. The one I use doesn't have all those seperate fees.

 

[Ace of Knaves]

lol... well, my new car, gorgious condo, mulitple HDTVs, and my huge bank account seem to differ.... plus, I never said 300 an hour, your logic and memory are pretty funny....

but hey, have fun overdrafting your accounts..... lol... blame the bank for your irresponsibilty.... because I'm sure by you going to another bank, and leaving a negative balance, your former bank will just forget about you...

Collections calling...

It's all internet talk man, for all we know you could be some little boy sitting in your parents basement. And frankly, I'm not the only person on here you thinks you reek of ********.

And yes in the lounge you said you get 300 dollars an hour...for labouring. Which is utter, utter ********.

 

[PemLam]

lol... well, my new car, gorgious condo, mulitple HDTVs, and my huge bank account seem to differ.... plus, I never said 300 an hour, your logic and memory are pretty funny....

but hey, have fun overdrafting your accounts..... lol... blame the bank for your irresponsibilty.... because I'm sure by you going to another bank, and leaving a negative balance, your former bank will just forget about you...

Collections calling...

Wouldn't be so damn big if you'd finally pay off those loans and credit cards! t:

 

[Ace of Knaves]

and whoever is giving you the advice to "wait" for the court case, is an IDIOT

Not really. I'm not going to pay a charge and then find out a month later that all bank charges have been dropped, which it looks like will happen.

 

[C. Lee]

And as I said, the bank I was using doesn't allow you to do that. It will let the transaction go through, then charge you later. You have no choice in the matter.

See this is why the banks are being taken to court. Because they CAN and SHOULD deny the transactions if you have insufficient funds. But they CHOOSE not to so they can make some money of their customers.

Actually....you do have a choice in the matter....you use a bank that gives you that option.

 

[BillyZaned]

I wasn't aiming that at you C. Lee.

And as I said, the bank I was using doesn't allow you to do that. It will let the transaction go through, then charge you later. You have no choice in the matter.

See this is why the banks are being taken to court. Because they CAN and SHOULD deny the transactions if you have insufficient funds. But they CHOOSE not to so they can make some money of their customers.

no, there being taken to court,... because people refuse to read the fine print, and don't understand how finacial istitutes work....

like LEE said, your in adult land now... so, its time to grow up and take responsibilty for your own actions, and stop blaming others when you **** up.... it's called life.... deal with it

 

[Ace of Knaves]

Actually....you do have a choice in the matter....you use a bank that gives you that option.

Yes I understand that.

But it should be STANDARD that the banks have that option. ****, it shouldn't even be an option.

Not enough money? Can't make the transaction.

It shouldn't be

Not enough money? Well we'll let it go through...we'll just charge you an extortionate amount later on.

 

[BillyZaned]

Wouldn't be so damn big if you'd finally pay off those loans and credit cards! t:

lol... true,..... but actually, talking to my wife, I'm going to keep my student loan, and not pay it off right now.... the interest is tax dedutable, and it's actually a good loan to have...

I just did pay off both my credit cards, and paid off 8k to my car on top of it...

I'm now going to restructure my auto loan into a 30 month car loan with low interest...

so right now, I only have my mortgage, student and car loan..

 

[BillyZaned]

It's all internet talk man, for all we know you could be some little boy sitting in your parents basement. And frankly, I'm not the only person on here you thinks you reek of ********.

And yes in the lounge you said you get 300 dollars an hour...for labouring. Which is utter, utter ********.

one, it was THIRTY dollars for standard pay, and 65 for government contracted work... and with how much I will be working, this year they averaged 65 hours a week, and it's a slow year according to my cousin who OWNS the company.. and anyone who lives in Wisconsin, knows what pavment company I work for... since it's the biggest game in town being a 50 million a year business...

go back and read my posts..... don't rely on that memory of yours either... seems to be off by a little bit

 

[Heretic]

Sounds like you need to shop around the different banks in your area. Different banks have different policies on things like those. The one I use doesn't have all those seperate fees.

No, you misunderstand. This card was given to him by his employer and his payment is put on this card every payday (he works a crappy mall retail job). The corporation has a deal with the bank and pay all of their employees with this direct deposit card. Obviously the employee doesnt know this until AFTER they are hired, and in this economy people need any job they can get.

The only way he could have avoided these fees was to quit his job, and not get paid for his time worked.

 

[bgates87]

Banks have a right to protect themselves from being taken advantage of. If you ask questions that make you seem suspicious and express an attitude of distrust towards banks and disdain for their policies then you should expect them to not trust you either.

 

[C. Lee]

No, you misunderstand. This card was given to him by his employer and his payment is put on this card every payday (he works a crappy mall retail job). The corporation has a deal with the bank and pay all of their employees with this direct deposit card. Obviously the employee doesnt know this until AFTER they are hired, and in this economy people need any job they can get.

The only way he could have avoided these fees was to quit his job, and not get paid for his time worked.

No, I read your post....the way they have it set up is bad, I don't deny that....but you said that after the initial setup, every direct deposit after that he was charged a fee again. I have direct deposit of my income...and I don't get charged a fee everytime it is done.

 

[BillyZaned]

No, I read your post....the way they have it set up is bad, I don't deny that....but you said that after the initial setup, every direct deposit after that he was charged a fee again. I have direct deposit of my income...and I don't get charged a fee everytime it is done.

and aren't the checking fee's the bank charges you, gone, becuase you do direct deposit?

 

[terry78]

You people are a stitch, I swear.

 

[Heretic]

Banks have a right to protect themselves from being taken advantage of. If you ask questions that make you seem suspicious and express an attitude of distrust towards banks and disdain for their policies then you should expect them to not trust you either.

You're putting the cart before the horse...

I entered the bank and deposited money into the account of someone that has an account there...someone who routinely has large deposits put into his account by their clients.

I was immediately asked for ID and social security card...therefore they did not trust me FIRST. Depositing money is not suspicious...and there should certainly be no reason for my social security as it's primary purpose is to track individuals for taxation purposes. The first thing to enter my mind was that this money would be reported as coming FROM me...therefore it is money I earned and I should be taxed on...so I asked a very basic question, hoping to clarify that this was not MY money, and never was.

So...the bank didnt trust me FIRST...leading to an innocent question for clarification...which led to them reporting me to the IRS and FBI...

So, what you SHOULD have posted was something like this...

"The bank will not trust you, even if you are simply giving them money, and they will act as if you are suspicious. If you question their actions in any way, they will amp up their suspicions and involve federal investigators."

 

[BillyZaned]

You're putting the cart before the horse...

I entered the bank and deposited money into the account of someone that has an account there...someone who routinely has large deposits put into his account by their clients.

I was immediately asked for ID and social security card...therefore they did not trust me FIRST. Depositing money is not suspicious...and there should certainly be no reason for my social security as it's primary purpose is to track individuals for taxation purposes. The first thing to enter my mind was that this money would be reported as coming FROM me...therefore it is money I earned and I should be taxed on...so I asked a very basic question, hoping to clarify that this was not MY money, and never was.

So...the bank didnt trust me FIRST...leading to an innocent question for clarification...which led to them reporting me to the IRS and FBI...

So, what you SHOULD have posted was something like this...

"The bank will not trust you, even if you are simply giving them money, and they will act as if you are suspicious. If you question their actions in any way, they will amp up their suspicions and involve federal investigators."

first off, it's not that they didn't trust you... it's their procedure that most likely the bank manager you talked too, has no controll over....

also, care to tell us how much money were talking about...

 

[Heretic]

No, I read your post....the way they have it set up is bad, I don't deny that....but you said that after the initial setup, every direct deposit after that he was charged a fee again. I have direct deposit of my income...and I don't get charged a fee everytime it is done.

The bank that the corporation deals with charges the cardholder for every direct deposit, and again, the cardholder has no way of NOT doing this, other than quitting his job. The bank charges a fee for ATM transactions as well...so there is NO WAY for him to get his money without a fee. This is not a choice the cardholder can take as he is stuck with this bank for as long as he has his job.

 

[BillyZaned]

I don't think a company can force you to use a certian bank for your payroll check... I may be wrong, but .....

 

[BillyZaned]

An employer may require that employees receive their pay via direct deposit to a bank or credit union account, but the employer may not specify the financial institution. Some employers offer payroll account cards to their employees who can't or prefer not to maintain a bank account. These cards operate as prepaid debit cards, and may have additional features that make them much like traditional bank accounts.

 

[terry78]

I just order a prepaid debit card and get my **** DD onto that. It has an actual checking account and routing number, which I prefer to use as opposed to a local bank.

 

[Heretic]

first off, it's not that they didn't trust you... it's their procedure that most likely the bank manager you talked too, has no controll over....

also, care to tell us how much money were talking about...

I understand that the bank has no control over this. It is a law and it automatically pops up whenever a large deposit is made. However, the bank should have at least answered my questions, rather than just "the government says so" without any explanation as to why they do it. When a person asks an innocent question and the answer is essentially "you dont need to know...but the info goes to the FBI, and if you refuse to give us the info then further steps will be taken as to why you refused".

Whatever happened to treating the customer with respect, instead of immediately filing reports to the feds and then not answering why?

 

[BillyZaned]

The bank that the corporation deals with charges the cardholder for every direct deposit, and again, the cardholder has no way of NOT doing this, other than quitting his job. The bank charges a fee for ATM transactions as well...so there is NO WAY for him to get his money without a fee. This is not a choice the cardholder can take as he is stuck with this bank for as long as he has his job.

after doing some googling.... 1 of 3 things is going on

1) your lieing about "your friend"
2) You don't have all the facts, because what is going on is illegal
3) The employer is commiting an illegal act

 

[BillyZaned]

I understand that the bank has no control over this. It is a law and it automatically pops up whenever a large deposit is made. However, the bank should have at least answered my questions, rather than just "the government says so" without any explanation as to why they do it. When a person asks an innocent question and the answer is essentially "you dont need to know...but the info goes to the FBI, and if you refuse to give us the info then further steps will be taken as to why you refused".

Whatever happened to treating the customer with respect, instead of immediately filing reports to the feds and then not answering why?

how much money are we talking about?

 

[Cunning Stunts]

No it's ********, it's daylight robbery. It does not cost the bank 65 quid to cover me going 36 pence over my limit. That's a fact.

And it is actually illegal, as the FSA high commission has taken all the banks to court and is going to make them drop every charge they have withstanding.

They ain't getting a penny from me, I just changed banks.

See what banks do, what they are gonna get into trouble for, is instead of denying a transaction that will put you over your limit, the bank will allow that transaction to go through. Therefore allowing you to go over your limit.

The banks are not really allowed to do this, and have been getting away with it up until now.

Yeah, Bank of America charges $35 per overdraft, so one day a scam hit my account, which caused me to overdraft on FIVE freakin' transactions. I wasn't happy. They reversed it though.

That said, charging that much is certainly, like you said, daylight robbery. It pissed me the eff off. Thankfully, Bank of America fell under fire about it, and like, a week ago or something, changed their policies.