I really hate my bank

[mods- move to whatever forum is more appropriate]

Like any normal person, I'd be pretty upset about this, but somehow I have to give myself part of the blame as well.

The story starts today as I have finally taken my reimbursement check to the bank. (I hadn't because it was cold the last few days). I go in and ask the teller if she could cash it for me, as I wanted to take a taxi to Walmart so I could pick up my medication.

I wait as she types in my info, then she tells me that she can't process the check because my account had gotten way into the negative. This came as a pretty huge shock to me because I had some money from summer work and I rarely used my debit card. So instead, I deposited the check, yet still leaving me in the red.

Before I get criticism on not being wise with my money, the fact of the matter is this particular bank charges a maintenance fee of $5.00 every week. Take also in account that the most money I ever receive is in the 100-120$ range. With that I have to purchase phone cards (35$) and my medication ($4). Prior to calling it in, I had to payback student loans at $62. Also, I mainly cash out my checks, so I am sure that I do have money on me.

Well after taking care of expenses, and purchasing equipment to help me along on stop motion, I found out that without depositing the bits of cash I do get, $7.00 is taken from my account every day, adding up to 35$ a week.

I have brought this up with a friend, and he offered to help me set up a new account at a different bank. I try to be careful with my money, but I keep ending up behind is that what I have to say.

I hate banks too...fees, fees and more fees...Just to use your own money which they also count on their ledgers with the Fed.

What really sent me over the edge is when banks started saying you could not cash a check at their bank that was drawn on one of their own accounts - unless you also had an account there - otherwise you have to deposit it to your own bank and wait if you don't have matching funds in your account. WTH!?

That started on 2008/2009 when they were worried about people hoarding cash for a crash. I don't know how I would have made it through high school or college if that policy was in effect.

Anyways, yeah - banks SUCK!

I just can't understand people lining up to give their hard earned money to billionaires who put it behind 3 feet of concrete and steel...

And the billionaire is the only one with the keys?

Crazy huh?

Peace

reply to post by kosmicjack


Yeah...there's not much you can do, and I'm a young one.

Either give it to the banks/banksters or stuff it in a mattress/coffee can/whatever. I know my partner has some of his cash stuffed into a case, so that sounds quite plausible

reply to post by TheToastmanCometh


I hate your bank too... and my bank! Both of them...

And the rest of them out there... they're all rip off artists.

Ask one of the tellers if they have a free account... IF they don't go to another bank and find one that does...

Otherwise cash your checks and take all the money out immediately...

Interact is a killer too... usually costs $1.50+ each time you use it...

yup.... I hate all banks!

They advertise a 1% interest rate on your money... as if that is anything... then yoink it away and then some with bankin fees

reply to post by TheToastmanCometh


I went with a small bank to avoid fees, you know, because I shouldn't pay someone to hold my money.

reply to post by TheToastmanCometh


I have said here many times previously for everybody to dump their bank/credit unions.
There is only one purpose for a bank, and the money made is NOT going to you.
The banks cannot survive without us, but we can thrive without them.
And as for negative accounts and these reimbursement checks, maybe you would not be in the red in the first place if banks were honest in the first place.
Anybody eligible for a reimbursement check should have all of their accounts in the negative wiped as well.
The mice thing about having no bank, I see on a daily basis just exactly how much cash I have and know what I can spend.

g146541
reply to post by TheToastmanCometh

 

I have said here many times previously for everybody to dump their bank/credit unions.
There is only one purpose for a bank, and the money made is NOT going to you.
The banks cannot survive without us, but we can thrive without them.
And as for negative accounts and these reimbursement checks, maybe you would not be in the red in the first place if banks were honest in the first place.
Anybody eligible for a reimbursement check should have all of their accounts in the negative wiped as well.
The mice thing about having no bank, I see on a daily basis just exactly how much cash I have and know what I can spend.

I completely agree.

But me and most people are trapped using banks. How can we stop? I dont think my employer (large company) would be able to pay me without a bank account. and that would lead to a whole world of hurt.

I honestly hate banks but cant get away from them

reply to post by TheToastmanCometh


I love my bank! The only fees they have ever charged me have been for wire transfer fees and using out of network ATMs. I've been with them for many years and been nothing but happy with them! Maybe you should shop around- there is a bank or credit union somewhere that has an account that is more fitting to your needs with less or even zero fees. Good luck!

reply to post by TheToastmanCometh


There are a lot of online banks that have good deals - no fee checking, free atm usage (because they dont' have a local atm's), foreign atm fee reimbursement (up to a couple of bucks), apps for cashing checks (no need to put on pants!), lower interest rate credit cards, etc.

Good luck though. Sounds like your bank really does blow.