TCF bank penalizes kid with $4.85 in his account by charging him $234.95 in fees in two weeks

Its called freedom!

Open up your keister and get sum!

reply to post by taccj9903


i get the feeling that banking institutions, credit reference agencies and the like operate a kind of passive encouragement towards getting individuals in the red. the reason why? perhaps so when credit is applied for further down the line ----'but sir/madam, it seems you went overdrawn several years ago and there is a marker against your credit history. i'm sorry but the 6.57% APR loan term is reserved for platinum covered customers only. We can, however offer you the loan at 24.6% available only today!'
f

reply to post by fakedirt


That among other reasons certainly makes sense. It's just another scam of creating money from nothing, and I don't even get the chicks for free.

reply to post by taccj9903


strange but true. my cousin during the process of securing a mortgage (mort-french for death?) was wound up by credit reference crap on the television. he logged into a site offering a free 30 day credit review. i bumped into him and he was p***ed off. upon asking why, he replied that just by reviewing his credit rating and phoning to complain regarding some discrepancy, he was informed his rating, again was marked and brownie points lost.
i laughed like a devil!
f

reply to post by fakedirt


I've always been told that each time your credit is checked, whether by you or a third party, that the credit rating takes a hit. The reasoning behind such madness is that the more you apply for credit the bigger the risk you become. I always have kept the philosophy of acquiring and keeping horrible credit rating that way no one will want to steal my identity.

reply to post by taccj9903


nice reasoning. personally i don't do credit/loans and i refuse to have a credit card. if i can't afford it, i'm not having it. besides i don't need anything that would warrant a walk to the bank in my best bib and tucker whilst warming up the nose for a bit of brown.
f

Closing bank accounts -

Meet in person with the bank's officer, the platform people, not the teller.

Advise of your desire to close the account.

Demand a Teller's Check for the amount in the account at the time of closing.

Stay there until the platform officer completes the closing. Ask for proof that the account is closed.

Photocopy the check handed to you, and keep it with the papers showing the account was closed.

Game over. The account will be properly closed within the next 24 hours on the computer system.

Verify the closure the next business day by calling the bank and inquiring about the closure. Also ask if you have any outstanding balances due. There should be none.

Municipal Credit Unions are not banks. They do not have FDIC insurance, nor are they real banks per se.

Becareful with Credit Unions. They can be more dangerous then the regular banks to begin with.

Given today's peanut interest rates on savings, MMA's or CD's, I would rather put the money in my mattress or pillow. It would help me sleep at night knowing that NOBODY is making any money off of my money. (Banks typically invest portions of their funds on hand overnight. They can't do that if they don't have my money to play with.)

-E2