Banking scams that dirrectly effect you .

First move if need mods really not sure were to post this ty. SECOND Public computer NO spell check 3rd (delexic)
Now most of the post dealing with what and how banks have and are incressing there revanew
usaly revolve around the Big huge banks and how they got the houseing market and bail outs.
This post I thought wouldnt it be better to make it known of banking scams done to every day people that effect YOUR walet as I type.
So in that if you know of a scam your bank is using to get extra money from your walet please add it .
The more people know about what scams are being used on them the better they can use there banking power as a group to force our banks to deal with us honstly. Using print that is readable without a maganfing glass would be a good start.
Ok so right befor the big houseing scam (yes people knew when they signed but the thought of owing a home is powerfull insentive to ignore or convince your self that some how you can pay it off.
My bank captial city started a new programe which sounded great to most .Normaly when you have a checking account and over draw by a small enough amount the bank would cover the over draw but it would cost you from 25 to 35$ fee .Now ovesly no one wants to pay 35$ for a over draw of 1.25$ ((yea happing to me twice (a High learning curve is inharent here as the money is taking right away hitting hard .) this reduces overdraws and limits the banks extra money it can make for over draws .
So they add to every ones checking account a 500$ over draw net .the idea as premoted was it could be used as a safty net and also includes a over time repayment on the over draw and the charges applyed to it.
Sounds good? Well this is nothing but a Unsigned loane with repayments of UNLIMITED instrest as because it is not giving as a lone by passes the legal instrest limits alowed by law.
so your 500$ over draft with fees and long tearm payments very quickly becomes a 1000 $ payed back .
My self I told the bank DONT ADD IT NO way no how if i do over draw ill stick with the over draw fee ((knowing I am staying on my account to be sure i dont pay that fee.
Withing a month half the town had used up that over draw and now owed the bank tonns of money. Well it was hard enough when they had to pay a 25$ fee per check now they have a monthly bill added way higher then the 25$ that will be added ever month untill payed up .Which being close enough to over draw meens they never have the extra money to clear the account and wala the bank has a never ending sorce of money that by passes instrist caps.
Ps you feel because I am delexic you cant read this post then please feel free to use any link to close it.
I dont need you telling me I am delexic as Ovesly I am aware of it.
On the other hand if you know of a bank scam being use now add it so people can be aware and save them self from being scamed.

reply to post by midnightstar


first, thanks for letting us know you are dyslexic and on a public computer without spell check, I was able to read your very interesting post, even with the few misspellings...I hope other banks don't start doing what you described...

for dyslexic people and people who are bad spellers, they could add a line at the bottom like what I have in blue about sierra lamar...it will always show with your post so people would know...just an idea

[ good idea the blue line at the bottom of your post .If i can figer out how to add that kinda thing I will sure love to .

Recently closed an account and asked for a cheque, so I could open another account in a building society. Was told this could be done at a cost £20.00, as it would be a banker's draft. I did ask for the cash, but as it was above £250.00 they wouldn't do it without giving 10 days notice.

yea my solution to the closing a account was to draw the money out in what ever amount untill account was at a dollar . then telling them I was closing it .
they didnt like it tough . lol ove corse this was my younger years when I was poorer .I had captial city for 20 25 years or so

reply to post by midnightstar


While Capital City may have recently started charging interest on account overdrafts, this is hardly a new idea.

I had a chequing account that charged interest anytime you went into overdraft over 28 years ago. I don't remember there ever being a flat fee charged for going into overdraft or per additional item after going into overdraft.

If you are using overdraft on a regular basis, that might be a hint that you really need to review your spending to figure out why that is.

wow finiancial advice . No I am not over drawing and yes the banks can and will charge for EACH bounced ((overdrawn check ))to teh tune of 25 or 35$ depending on the bank. but with this the banks can now Charge a monthly fee on over drawn checking account to the tune of 500$ which they would never would have chashed a 500$ bounced ((overdrawn check befor this .
Itw as nothing but a scam to get people indeated .
As to my accounts they are fine and always have been thanks

Yep, overdraft charges....in 72 they went from 2 dollars to 4 dollars for a bounced check.....we were in college and the proffessor told us it was illegal for the bank to charge that fee, unless they could prove that check's fee would keep them from bankrupcy.
Hey, the banks used to let us "kite" checks......speaks well of the old buzzards.

reply to post by GBP/JPY


I remember when the bounce fee was about $5.00 and it was always per item....wells fargo will give you a little money if your auto deposit comes in a little later and you need something, they float you some and you pay with small amount of interest, much lower than those money borrowing places.