Ron wrote:
On Sep 30, 2:50 pm, "Percival P. wrote:
On 09/30/11 02:22 pm, Ron wrote:









...

BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425
...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

If my bank tries it, you can count me amongst the following:

This summer, an Associated Press-GfK poll found that two-thirds of
consum
ers
use debit cards more frequently than credit cards. But when asked how
the
y
would react if they were charged a $3 monthly debit card fee, 61
percent said they'd find another way to pay.

With a $5 fee, 66 percent said they would change their payment
method.

Yeah, let the assholes have to deal with a ****load of paper checks
again. What a crock!

...and you think per check fees will not become more rampant?!

Some banks/CU have a per check fee over a certain amount of checks per
month. Nothing prevents the "certain amount of checks" to be zero.

I can't even remember the last time I had check fees. I'm now with
Wells Fargo, formally Wachovia, formally First Union.

Our church is urging members to make contributions by EFT because
there's a per-check charge above 100 a month.

And the alternative some bank customers are talking about is credit unions.

Perce

Fortunately, I'm a USAA member, so if Wells Fargo tries to pull any of
that crap, I'll just take out all of my money and do my banking with
them.

USAA doesn't play those stupid games.

https://www.usaa.com/inet/pages/bank_main

Actually, USAA notified customers about a month ago that they were
ending the reward they pay for use of a debit card, because the idiots
in Washington have capped the swipe fees they charged merchants for use
of a debit card. Since the dunces cap applies to all debit cards, it is
hard to see how any bank or credit union will be able to avoid some sort
of charge, or reduction in service, to card users, they will just vary
in their approach.

The inescapable conclusion is that our government has chosen to reduce
costs for merchants, and to increase costs for card users. Perhaps they
dream that merchants will reduce their prices because of their reduced
swipe fee charges, but I don't know anyone who seriously believes that.

I do agree that USAA is an excellent bank, but banks are in the business
of making money, not losing it. Credit unions may not make a profit,
but they certainly cannot eat a loss.

On Oct 1, 12:10*pm, Notat Home wrote:
Ron wrote:
On Sep 30, 2:50 pm, "Percival P. *wrote:

Fortunately, I'm a USAA member, so if Wells Fargo tries to pull any of
that crap, I'll just take out all of my money and do my banking with
them.

USAA doesn't play those stupid games.

https://www.usaa.com/inet/pages/bank_main

Actually, USAA notified customers about a month ago that they were
ending the reward they pay for use of a debit card, because the idiots
in Washington have capped the swipe fees they charged merchants for use
of a debit card. *Since the dunces cap applies to all debit cards, it is
hard to see how any bank or credit union will be able to avoid some sort
of charge, or reduction in service, to card users, they will just vary
in their approach.

The inescapable conclusion is that our government has chosen to reduce
costs for merchants, and to increase costs for card users. *Perhaps they
dream that merchants will reduce their prices because of their reduced
swipe fee charges, but I don't know anyone who seriously believes that.

I do agree that USAA is an excellent bank, but banks are in the business
of making money, not losing it. *Credit unions may not make a profit,
but they certainly cannot eat a loss.

I used to be a member of Pentagon Federal Credit Union because of my
ex-wife. We had a joint account which she closed (during our
separation) and then opened up one in just her name. After we got
divorced I was informed that I was no longer a member because I failed
to keep at least $50.00 in my account. I explained to them what had
happened, and they didn't care. They basically told me it wasn't their
problem.

On Sat, 01 Oct 2011 12:10:00 -0400, Notat Home wrote:

Ron wrote:
On Sep 30, 2:50 pm, "Percival P. wrote:
On 09/30/11 02:22 pm, Ron wrote:









...

BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425
...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

If my bank tries it, you can count me amongst the following:

This summer, an Associated Press-GfK poll found that two-thirds of
consum
ers
use debit cards more frequently than credit cards. But when asked how
the
y
would react if they were charged a $3 monthly debit card fee, 61
percent said they'd find another way to pay.

With a $5 fee, 66 percent said they would change their payment
method.

Yeah, let the assholes have to deal with a ****load of paper checks
again. What a crock!

...and you think per check fees will not become more rampant?!

Some banks/CU have a per check fee over a certain amount of checks per
month. Nothing prevents the "certain amount of checks" to be zero.

I can't even remember the last time I had check fees. I'm now with
Wells Fargo, formally Wachovia, formally First Union.

Our church is urging members to make contributions by EFT because
there's a per-check charge above 100 a month.

And the alternative some bank customers are talking about is credit unions.

Perce

Fortunately, I'm a USAA member, so if Wells Fargo tries to pull any of
that crap, I'll just take out all of my money and do my banking with
them.

USAA doesn't play those stupid games.

https://www.usaa.com/inet/pages/bank_main

Actually, USAA notified customers about a month ago that they were
ending the reward they pay for use of a debit card, because the idiots
in Washington have capped the swipe fees they charged merchants for use
of a debit card. Since the dunces cap applies to all debit cards, it is
hard to see how any bank or credit union will be able to avoid some sort
of charge, or reduction in service, to card users, they will just vary
in their approach.

....or they use the "free" card as a marketing tool. I'm certainly not about to
pay for a debit card.

The inescapable conclusion is that our government has chosen to reduce
costs for merchants, and to increase costs for card users. Perhaps they
dream that merchants will reduce their prices because of their reduced
swipe fee charges, but I don't know anyone who seriously believes that.

Which is silly, since they didn't do the same for CCs.

I do agree that USAA is an excellent bank, but banks are in the business
of making money, not losing it. Credit unions may not make a profit,
but they certainly cannot eat a loss.

There is more leeway, however.

On Sat, 1 Oct 2011 07:41:01 -0700 (PDT), RonB wrote:

On Sep 30, 11:18*am, Red Green wrote:
BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

Looks like we need to go ahead and get our concealed carry permits so
we can carry more cash.

No need to carry cash. ;-)

We walked into a bank earlier this week to get a cashiers check for
$10K for a car purchase. The account we were removing the money from
was NOT small.

I'm sure the dealer was happy. ;-)

They wanted $10 to process a cashier's check.

We tied up two of their people for about 15-20 minutes dragging cash
out of the vault, counting it out to one-another and then to us. I
suspect that cost more than processing the check. I would have been
uncomfortable carrying that much cash but we were depositing it in
another bank 20 minutes away.

It takes that long to count 100 Franklins?

On Sat, 01 Oct 2011 10:42:05 -0500, Usafretcol wrote:

On Sat, 1 Oct 2011 07:41:01 -0700 (PDT), RonB
wrote:

On Sep 30, 11:18*am, Red Green wrote:
BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

Looks like we need to go ahead and get our concealed carry permits so
we can carry more cash.

We walked into a bank earlier this week to get a cashiers check for
$10K for a car purchase. The account we were removing the money from
was NOT small.

They wanted $10 to process a cashier's check.

We tied up two of their people for about 15-20 minutes dragging cash
out of the vault, counting it out to one-another and then to us. I
suspect that cost more than processing the check. I would have been
uncomfortable carrying that much cash but we were depositing it in
another bank 20 minutes away.

RonB

I had a similar experience with Regions day before yesterday. Withdrew
$25,000 from MM account and requested cash. Had to argue with rep as
he insisted on cashier's check. Tried to tell me they didn't have that
much cash. Got the cash and due to attitude, withdrew remaining
balance yesterday and closed account. Opened accounts with Credit
Union.

Now try taking $25K in cash out of the CU. Most banks don't have all that
much money sitting around. That kind of withdrawal, without notice, can
really put a crimp in the rest of their week.

On 10/1/2011 10:41 AM, RonB wrote:
On Sep 30, 11:18 am, Red wrote:
BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

Looks like we need to go ahead and get our concealed carry permits so
we can carry more cash.

We walked into a bank earlier this week to get a cashiers check for
$10K for a car purchase. The account we were removing the money from
was NOT small.

They wanted $10 to process a cashier's check.

We tied up two of their people for about 15-20 minutes dragging cash
out of the vault, counting it out to one-another and then to us. I
suspect that cost more than processing the check. I would have been
uncomfortable carrying that much cash but we were depositing it in
another bank 20 minutes away.

RonB

Unless you somehow identify yourself as a target that day was no
different than any other day.

On 10/1/2011 1:06 PM, zzzzzzzzzz wrote:
On Sat, 1 Oct 2011 07:41:01 -0700 (PDT), wrote:

On Sep 30, 11:18 am, Red wrote:
BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

Looks like we need to go ahead and get our concealed carry permits so
we can carry more cash.

No need to carry cash. ;-)

Yes, it does make a lot more sense to say buy a donut using a credit or
debit card to help the banks out.


We walked into a bank earlier this week to get a cashiers check for
$10K for a car purchase. The account we were removing the money from
was NOT small.

I'm sure the dealer was happy. ;-)

Or it was a win-win. You can get better prices if you make cash part of
the negotiation because the dealer knows the tribute they will need to
pay to the bank.

Not everyone loves banks.


They wanted $10 to process a cashier's check.

We tied up two of their people for about 15-20 minutes dragging cash
out of the vault, counting it out to one-another and then to us. I
suspect that cost more than processing the check. I would have been
uncomfortable carrying that much cash but we were depositing it in
another bank 20 minutes away.

It takes that long to count 100 Franklins?

zzzzzzzzzz wrote:
I bet if you keep a reasonable balance, you won't be paying this fee.
I don't ever pay any bank fees.
Usually $2500 will seal the deal.

My wife heard $20,000 to $50,000. ...like I'm going to leave that in
a bank.

BoA just told me $10K - if you have the right account. If you don't, you will
still pay.

On Sat, 01 Oct 2011 13:23:44 -0400, George wrote:

On 10/1/2011 1:06 PM, zzzzzzzzzz wrote:
On Sat, 1 Oct 2011 07:41:01 -0700 (PDT), wrote:

On Sep 30, 11:18 am, Red wrote:
BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

Looks like we need to go ahead and get our concealed carry permits so
we can carry more cash.

No need to carry cash. ;-)

Yes, it does make a lot more sense to say buy a donut using a credit or
debit card to help the banks out.

Wwwwwooooooosssssh!!

We walked into a bank earlier this week to get a cashiers check for
$10K for a car purchase. The account we were removing the money from
was NOT small.

I'm sure the dealer was happy. ;-)

Or it was a win-win. You can get better prices if you make cash part of
the negotiation because the dealer knows the tribute they will need to
pay to the bank.

Cash handling isn't free either.

Not everyone loves banks.

Not everyone loves lawyers or dentists either.

They wanted $10 to process a cashier's check.

We tied up two of their people for about 15-20 minutes dragging cash
out of the vault, counting it out to one-another and then to us. I
suspect that cost more than processing the check. I would have been
uncomfortable carrying that much cash but we were depositing it in
another bank 20 minutes away.

It takes that long to count 100 Franklins?

Ron wrote:
Fortunately, I'm a USAA member, so if Wells Fargo tries to pull any of
that crap, I'll just take out all of my money and do my banking with
them.

USAA doesn't play those stupid games.

https://www.usaa.com/inet/pages/bank_main


Thanks for that. I'll check them out for sure.

On 9/30/2011 5:18 PM, Oren wrote:
On Fri, 30 Sep 2011 10:16:20 -0700 (PDT), Frank
wrote:

My son works for them

[BofA]

I'm trying to find more details about this fee.

My card is Debit/Visa CC. If the Visa is used in lieu of Debit, does
the fee apply? What are the exemptions to the fee, based on account,
etc.?

If the fee applies to the Debit/Visa I'm leaving for a credit union.
They lost a 16 year customer.

Can your son offer some details?

I doubt it. He works out of the house in a computer group. Only has
contact with others when called to meetings. His current project is
very active but he said anyone works for them that is not worried about
their future employment, should be.

On 10/1/2011 12:10 PM, Notat Home wrote:
Ron wrote:
On Sep 30, 2:50 pm, "Percival P. wrote:
On 09/30/11 02:22 pm, Ron wrote:









...

BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425

...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

If my bank tries it, you can count me amongst the following:

This summer, an Associated Press-GfK poll found that two-thirds of
consum
ers
use debit cards more frequently than credit cards. But when asked
how
the
y
would react if they were charged a $3 monthly debit card fee, 61
percent said they'd find another way to pay.

With a $5 fee, 66 percent said they would change their payment
method.

Yeah, let the assholes have to deal with a ****load of paper checks
again. What a crock!

...and you think per check fees will not become more rampant?!

Some banks/CU have a per check fee over a certain amount of checks per
month. Nothing prevents the "certain amount of checks" to be zero.

I can't even remember the last time I had check fees. I'm now with
Wells Fargo, formally Wachovia, formally First Union.

Our church is urging members to make contributions by EFT because
there's a per-check charge above 100 a month.

And the alternative some bank customers are talking about is credit
unions.

Perce

Fortunately, I'm a USAA member, so if Wells Fargo tries to pull any of
that crap, I'll just take out all of my money and do my banking with
them.

USAA doesn't play those stupid games.

https://www.usaa.com/inet/pages/bank_main

Actually, USAA notified customers about a month ago that they were
ending the reward they pay for use of a debit card, because the idiots
in Washington have capped the swipe fees they charged merchants for use
of a debit card. Since the dunces cap applies to all debit cards, it is
hard to see how any bank or credit union will be able to avoid some sort
of charge, or reduction in service, to card users, they will just vary
in their approach.

The inescapable conclusion is that our government has chosen to reduce
costs for merchants, and to increase costs for card users. Perhaps they
dream that merchants will reduce their prices because of their reduced
swipe fee charges, but I don't know anyone who seriously believes that.

I do agree that USAA is an excellent bank, but banks are in the business
of making money, not losing it. Credit unions may not make a profit, but
they certainly cannot eat a loss.

Shrug. As soon as my credit union starts charging for using their ATM
card at POS terminals, I'll go back to using cash for everything, or use
the free CC instead. If they start charging to use their own ATMs, I
will have nasty words for them. I may use other-bank ATMs once or twice
a year, when traveling, and I never use those baby ATMs in gas stations
and stop-n-robs, with their usurious fees. At least my CU hasn't started
the 'extra fee to talk to a human' BS like some of the mega-banks have.

--
aem sends...

On 9/30/2011 11:05 PM, Ed Pawlowski wrote:

"Tony Miklos" wrote
I don't understand why anyone would stay with a debit card unless
their credit rating is so bad they can't get a credit card.


I'm in Italy this week and next. I can get cash at an ATM cheaper than
any other method.
Here, cash can get you nice discounts compared to a CC

Right, for getting cash in foreign countries an ATM card is often the
best option, especially if you have one from a bank that doesn't charge
huge foreign transaction fees and that absorbs any ATM fees charged by
the ATM owner. But for actual purchases, where there is no discount for
cash, why would anyone use a debit card rather than a credit card. With
the credit card you get a rebate (typically worth 1-2%) plus you have
legally mandated consumer protections that you don't get with a debit card.

On 10/1/2011 7:41 AM, RonB wrote:
On Sep 30, 11:18 am, Red wrote:
BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

Looks like we need to go ahead and get our concealed carry permits so
we can carry more cash.

We walked into a bank earlier this week to get a cashiers check for
$10K for a car purchase. The account we were removing the money from
was NOT small.

They wanted $10 to process a cashier's check.

We tied up two of their people for about 15-20 minutes dragging cash
out of the vault, counting it out to one-another and then to us. I
suspect that cost more than processing the check. I would have been
uncomfortable carrying that much cash but we were depositing it in
another bank 20 minutes away.

If it was a purchase from a dealer it's surprising that the dealer would
not have the ability to do Check 21 processing on personal checks.

On 10/1/2011 8:25 AM, zzzzzzzzzz wrote:
On Sat, 1 Oct 2011 08:02:00 +0200, "Ed wrote:


wrote

Personally I'm amazed that anyone uses debit cards since credit cards
offer consumer protections not available on debit cards,

Personally, I'm amazed that people don't know many debit cards offer the
same protection as credit cards.

Not quite the same. CCs are protected by law. Some/most DCs are protected by
contract. After a loss, CC: the CC company's money is on the line, DC: your
money is in the ether (which can cause all sorts of other issues).

Well stated.

The credit card protections are mandated by law, any debit card
protections are up to the bank and their is little recourse for the
consumer. And of course the really big issue is that even if the debit
card issuer eventually credits your account in the event of a dispute,
they have your money in the meantime.

I've never seen anyone come up with a coherent reason why they would use
a debit card when they can use a credit card, other than that they
wanted some cash back.

On 9/30/2011 9:41 PM, zzzzzzzzzz wrote:
On Fri, 30 Sep 2011 21:18:59 -0400, wrote:

On Fri, 30 Sep 2011 17:44:45 -0700,
wrote:

On 9/30/2011 4:29 PM, zzzzzzzzzz wrote:

Why haven't you already? BoA has always sucked.

I can't escape. They keep buying banks I do business with.

I had a mortgage and a CD with Countrywide and BOA took them over. At
the time, Countrywide had a 2% rebate credit card if you deposited the
rewards into a Countrywide CD. Of course BOA ended that 2% program.

Because they now own your mortgage doesn't mean you have to bank with them.

I have never banked with them.

By all reports they suck as a mortgage bank, too, but you didn't make that
choice.

They are a very annoying mortgage bank. They did not send me a 1098 or
1099 this year, which I didn't realize until a few hours before I was
taking by tax stuff to the accountant. I wouldn't have even needed those
if they had simply printed on the monthly statement the amount of
interest paid in the past year and the interest accrued from the impound
escrow account (for another mortgage on a rental property from
Citimortgage, they include YTD interest on each statement.

You can always change CCCs.

Already done.

The only good thing about the BOA Visa card is that it gets you into a
bunch of museums for freehttp://museums.bankofamerica.com/ so I will
keep the new card and use it once in a while so they don't close the
account.

That is interesting.

Yeah, there are a lot of museums near us that it will work at.

What's wrong with a CU?

I recall that a while back when I was using a CU for most stuff there
was some reason I needed to keep an account at a bank open, but I can't
recall the reason anymore.

On Sat, 01 Oct 2011 16:29:49 -0700, SMS wrote:

On 9/30/2011 9:41 PM, zzzzzzzzzz wrote:
On Fri, 30 Sep 2011 21:18:59 -0400, wrote:

On Fri, 30 Sep 2011 17:44:45 -0700,
wrote:

On 9/30/2011 4:29 PM, zzzzzzzzzz wrote:

Why haven't you already? BoA has always sucked.

I can't escape. They keep buying banks I do business with.

I had a mortgage and a CD with Countrywide and BOA took them over. At
the time, Countrywide had a 2% rebate credit card if you deposited the
rewards into a Countrywide CD. Of course BOA ended that 2% program.

Because they now own your mortgage doesn't mean you have to bank with them.

I have never banked with them.

Well, that's sorta what the thread is about.

By all reports they suck as a mortgage bank, too, but you didn't make that
choice.

They are a very annoying mortgage bank. They did not send me a 1098 or
1099 this year, which I didn't realize until a few hours before I was
taking by tax stuff to the accountant. I wouldn't have even needed those
if they had simply printed on the monthly statement the amount of
interest paid in the past year and the interest accrued from the impound
escrow account (for another mortgage on a rental property from
Citimortgage, they include YTD interest on each statement.

That's not the worst. I had a mortgage company (who bought my mortgage for a
really good company) that would "forget" that they deposited our payment.

*Ring* *Ring*
Mortgage company: "Hello, XYZ mortgage"
Wife: "We have been charged a late fee (again)"
MC: "The mortgage is due on the first and late on the 15th of the month."
MC: "If it's late there is a $35 fee." (this was 20 years ago)
Wife: "It was paid on the 8th."
MC: "The mail is sometimes slow. It has to be in our system by the 15th."
Wife: "It was."
MC: "How do you know?"
Wife: "BECAUSE IT CLEARED OUR *&$%&# BANK ON THE 8th."
MC: "How do you know that?"
Wife: "I work for the bank and have our account pulled up on the screen in
front of me, moron."
MC: "We'll refund the late charge this time.
Wife: "You're *$&@*#$ right you will.

repeat every six months

You can always change CCCs.

Already done.

The only good thing about the BOA Visa card is that it gets you into a
bunch of museums for freehttp://museums.bankofamerica.com/ so I will
keep the new card and use it once in a while so they don't close the
account.

That is interesting.

Yeah, there are a lot of museums near us that it will work at.

Where abouts?

What's wrong with a CU?

I recall that a while back when I was using a CU for most stuff there
was some reason I needed to keep an account at a bank open, but I can't
recall the reason anymore.

A *long* time ago, CUs weren't allowed to clear checks through the system.
They got around it by affiliating with a bank and issuing "drafts". Same
thing, usually. That changed at least 20 years ago, though. CUs also can't
do commercial accounts, so there are some differences but for most, CUs are
the way to go.

George wrote:
On 9/30/2011 2:47 PM, Malcom "Mal" Reynolds wrote:
In

,
wrote:
On Sep 30, 12:18 pm, Red wrote:
BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

My son works for them and they are being forced to unload a lot of
people.
Fortunately he's seems safe for now but they are dropping around
him. According to what I heard Limbaugh just say is extra expenses to
banks being incurred by the Durbin ammendment to Dodd-Frank. We
gotta unelect these morons.

but of course it has nothing to do with all of the sub-prime loans
BofA is currently underwater on, could it.

Limbagh explicitly omits facts. That would just confuse the dittoheads
if they actually had to weigh facts instead of just knowing he has
already done that for them...

And what facts would those be?

Dick Durbin offered and amendment to the Dodd-Franks financial reform act
which limited the interchage fee banks can charge on debit card transactions
to 22-25 cents per swipe. Prior to that, the average fee to the merchant was
44 cents per swipe.

As a result of this Durbin provision, banks will experience an estimated
loss of $8 billion annually. I'm guessing BoA will take about $2 billion of
that hit.

When you lose a $2 billion revenue stream, with no corresponding drop in
expenses, you've got to make up the revenue elsewhere.

On the plus side, merchants will pay less to honor debit cards thereby
resulting in dramatically lowered prices for the consumer. Look for these
massive price reductions beginning today (Oct 1st).

zzzzzzzzzz wrote:

Now try taking $25K in cash out of the CU. Most banks don't have all
that much money sitting around. That kind of withdrawal, without
notice, can really put a crimp in the rest of their week.

A customer of mine tells this story: He gives his wife a check on another
band for the household account. The bank declines to give her cash. He goes
to the bank to raise hell. They tell him the check could bounce, so they
have a "hold" policy.

He puts a $200,000 CD on the counter and says: "Cash it!"

All kinds of wiggling occurs topped by "we don't have that much cash in the
bank." His retort: "You're a branch of [name redacted], get on the ****in'
phone and order an armored car full of money. If I don't get my cash in
exactly one hour, I'm gonna call the cops and report you for theft and
conversion by bailee. Then I'm gonna call the Comptroller of the Currency
and demand your national bank charter be yanked. Then there's the state
banking commission, the rat abatement people, and anyone else I can think
of. And all that's before tomorrow morning when I contact my lawyer!"

He got his money. It took slightly more than an hour for couriers to deliver
cash from nearby branches, but he got his money.

On Sat, 1 Oct 2011 20:24:45 -0500, "HeyBub" wrote:

wrote:

Now try taking $25K in cash out of the CU. Most banks don't have all
that much money sitting around. That kind of withdrawal, without
notice, can really put a crimp in the rest of their week.

A customer of mine tells this story: He gives his wife a check on another
band for the household account. The bank declines to give her cash. He goes
to the bank to raise hell. They tell him the check could bounce, so they
have a "hold" policy.

He puts a $200,000 CD on the counter and says: "Cash it!"

All kinds of wiggling occurs topped by "we don't have that much cash in the
bank." His retort: "You're a branch of [name redacted], get on the ****in'
phone and order an armored car full of money. If I don't get my cash in
exactly one hour, I'm gonna call the cops and report you for theft and
conversion by bailee. Then I'm gonna call the Comptroller of the Currency
and demand your national bank charter be yanked. Then there's the state
banking commission, the rat abatement people, and anyone else I can think
of. And all that's before tomorrow morning when I contact my lawyer!"

He got his money. It took slightly more than an hour for couriers to deliver
cash from nearby branches, but he got his money.

SOunds like a tall tale to me. Banks are not required to close accounts over
set limits in the same day and there are limits on cash transactions, too. Not
to mention that if they ain't got it, you can't have it.

In article ,
SMS wrote:

the credit card you get a rebate (typically worth 1-2%) plus you have
legally mandated consumer protections that you don't get with a debit card.
And probably 4-8 weeks before the money is removed from your
account.

--
People thought cybersex was a safe alternative,
until patients started presenting with sexually
acquired carpal tunnel syndrome.-Howard Berkowitz

On Oct 1, 12:06*pm, "
wrote:


It takes that long to count 100 Franklins?

Yep - they were quite busy. The young teller appeared to be in
training and I think she went through the count twice before she came
to the window. Then she banded the cash in $1K bundles. She and the
boss asked if we wanted them to count it out. YEP! She un-banded it
counted it out again and re-banded it and made out the slip.

RonB

On Oct 1, 6:18*pm, SMS wrote:
On 10/1/2011 7:41 AM, RonB wrote:



On Sep 30, 11:18 am, Red *wrote:
BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425....

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

Looks like we need to go ahead and get our concealed carry permits so
we can carry more cash.

We walked into a bank earlier this week to get a cashiers check for
$10K for a car purchase. *The account we were removing the money from
was NOT small.

They wanted $10 to process a cashier's check.

We tied up two of their people for about 15-20 minutes dragging cash
out of the vault, counting it out to one-another and then to us. *I
suspect that cost more than processing the check. *I would have been
uncomfortable carrying that much cash but we were depositing it in
another bank 20 minutes away.

If it was a purchase from a dealer it's surprising that the dealer would
not have the ability to do Check 21 processing on personal checks.

We wrote a personal check to the dealer (Saturday) and asked them to
hold it until Tuesday. We had to take some of the cash from a second
back (higher rate) and put it in our main bank where our checking
account is.

Rural Life!

RonB

On 10/1/2011 7:18 PM, SMS wrote:
On 10/1/2011 7:41 AM, RonB wrote:
On Sep 30, 11:18 am, Red wrote:
BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

Looks like we need to go ahead and get our concealed carry permits so
we can carry more cash.

We walked into a bank earlier this week to get a cashiers check for
$10K for a car purchase. The account we were removing the money from
was NOT small.

They wanted $10 to process a cashier's check.

We tied up two of their people for about 15-20 minutes dragging cash
out of the vault, counting it out to one-another and then to us. I
suspect that cost more than processing the check. I would have been
uncomfortable carrying that much cash but we were depositing it in
another bank 20 minutes away.

If it was a purchase from a dealer it's surprising that the dealer would
not have the ability to do Check 21 processing on personal checks.

Last 2 cars I bought from dealers (never plan to make THAT mistake,
again), I just wrote them a check. Of course, in this state, they have a
sweetheart arrangement with state DMV so they also get to do the title
and plate application, and they won't LET you do it yourself, so they
had plenty of back-room time for the check to clear before releasing title.

End up walking at least slightly bowlegged every time I deal with a
dealer. Private party only from now on- I bring cash, or meet the seller
at my bank. They show up with clear current title in hand, or no
transaction. And I go get my own damn plates. Enough with these BS
'processing fees'. What part of 'the cost of doing business' do they not
understand?

Short of having a wreck or blowing an engine, it should be 4-5 years
before I have to mess with car-buying again. (knock on rusty metal)

--
aem sends...

On 10/1/2011 8:37 PM, zzzzzzzzzz wrote:
(snip)

That's not the worst. I had a mortgage company (who bought my mortgage for a
really good company) that would "forget" that they deposited our payment.

*Ring* *Ring*
Mortgage company: "Hello, XYZ mortgage"
Wife: "We have been charged a late fee (again)"
MC: "The mortgage is due on the first and late on the 15th of the month."
MC: "If it's late there is a $35 fee." (this was 20 years ago)
Wife: "It was paid on the 8th."
MC: "The mail is sometimes slow. It has to be in our system by the 15th."
Wife: "It was."
MC: "How do you know?"
Wife: "BECAUSE IT CLEARED OUR *&$%&# BANK ON THE 8th."
MC: "How do you know that?"
Wife: "I work for the bank and have our account pulled up on the screen in
front of me, moron."
MC: "We'll refund the late charge this time.
Wife: "You're *$&@*#$ right you will.

repeat every six months


Chortle. I love it. So seldom do most of us get to grind it to a Tier-1
CSR like that.

--
aem sends...

On 10/1/2011 5:37 PM, zzzzzzzzzz wrote:

A *long* time ago, CUs weren't allowed to clear checks through the system.
They got around it by affiliating with a bank and issuing "drafts". Same
thing, usually. That changed at least 20 years ago, though. CUs also can't
do commercial accounts, so there are some differences but for most, CUs are
the way to go.

I have a commercial account at a credit union. In fact they told me they
could no longer accept checks made out to my business into my personal
CU account anymore (they had been able to do that previously) and said
that it could only be done in a commercial account. All they needed was
my fictitious name notice to open the commercial account.

zzzzzzzzzz wrote:
On Sat, 1 Oct 2011 20:24:45 -0500, "HeyBub"
wrote:

zzzzzzzzzz wrote:

Now try taking $25K in cash out of the CU. Most banks don't have
all that much money sitting around. That kind of withdrawal,
without notice, can really put a crimp in the rest of their week.

A customer of mine tells this story: He gives his wife a check on
another band for the household account. The bank declines to give
her cash. He goes to the bank to raise hell. They tell him the check
could bounce, so they have a "hold" policy.

He puts a $200,000 CD on the counter and says: "Cash it!"

All kinds of wiggling occurs topped by "we don't have that much cash
in the bank." His retort: "You're a branch of [name redacted], get
on the ****in' phone and order an armored car full of money. If I
don't get my cash in exactly one hour, I'm gonna call the cops and
report you for theft and conversion by bailee. Then I'm gonna call
the Comptroller of the Currency and demand your national bank
charter be yanked. Then there's the state banking commission, the
rat abatement people, and anyone else I can think of. And all that's
before tomorrow morning when I contact my lawyer!"

He got his money. It took slightly more than an hour for couriers to
deliver cash from nearby branches, but he got his money.

SOunds like a tall tale to me. Banks are not required to close
accounts over set limits in the same day and there are limits on cash
transactions, too. Not to mention that if they ain't got it, you
can't have it.

Could be a tale. He did, however, stop in my store across the street from
the bank to use my 'phone. He had a transfer bag full of cash with him and
called the constable's office looking for an armed escort to another bank.

The constable's office declined, so I loaned him a pistol.

Everything worked out swell.

"HeyBub" wrote in
:

Dick Durbin offered and amendment to the Dodd-Franks financial reform
act which limited the interchage fee banks can charge on debit card
transactions to 22-25 cents per swipe. Prior to that, the average fee
to the merchant was 44 cents per swipe.

As a result of this Durbin provision, banks will experience an
estimated loss of $8 billion annually. I'm guessing BoA will take
about $2 billion of that hit.

Well, actually $8 (or $2) billion LESS profit, not a loss in the bottom
line, IMNSHO!

When you lose a $2 billion revenue stream, with no corresponding drop
in expenses, you've got to make up the revenue elsewhere.

On the plus side, merchants will pay less to honor debit cards thereby
resulting in dramatically lowered prices for the consumer. Look for
these massive price reductions beginning today (Oct 1st).

Sarcasm duely noted!
Banks should strive more to give honest service, with less beancounter
emphasis on profit. Then the profits will come automagically.

--
Best regards
Han
email address is invalid

On 10/1/2011 1:34 PM, zzzzzzzzzz wrote:
On Sat, 01 Oct 2011 13:23:44 -0400, wrote:

On 10/1/2011 1:06 PM, zzzzzzzzzz wrote:
On Sat, 1 Oct 2011 07:41:01 -0700 (PDT), wrote:

On Sep 30, 11:18 am, Red wrote:
BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

Looks like we need to go ahead and get our concealed carry permits so
we can carry more cash.

No need to carry cash. ;-)

Yes, it does make a lot more sense to say buy a donut using a credit or
debit card to help the banks out.

Wwwwwooooooosssssh!!

You are easily confused aren't you?


We walked into a bank earlier this week to get a cashiers check for
$10K for a car purchase. The account we were removing the money from
was NOT small.

I'm sure the dealer was happy. ;-)

Or it was a win-win. You can get better prices if you make cash part of
the negotiation because the dealer knows the tribute they will need to
pay to the bank.

Cash handling isn't free either.

Of course not but you are just parroting the FUD used by banks. If you
ever get a chance to see actual merchant costs you would be quite
surprised. Even common sense and simple observation will give you a good
idea.


Not everyone loves banks.

Not everyone loves lawyers or dentists either.

Sure, but I am confident lawyyers and dentists weren't part of the team
that tanked the economy.


They wanted $10 to process a cashier's check.

We tied up two of their people for about 15-20 minutes dragging cash
out of the vault, counting it out to one-another and then to us. I
suspect that cost more than processing the check. I would have been
uncomfortable carrying that much cash but we were depositing it in
another bank 20 minutes away.

It takes that long to count 100 Franklins?

On 10/1/2011 7:18 PM, SMS wrote:
On 10/1/2011 7:41 AM, RonB wrote:
On Sep 30, 11:18 am, Red wrote:
BoA heads up a cast of characters.

http://finance.yahoo.com/news/Bank-o...-5-apf-1381425...

Picture Summary:http://oi54.tinypic.com/vx1amv.jpg

Looks like we need to go ahead and get our concealed carry permits so
we can carry more cash.

We walked into a bank earlier this week to get a cashiers check for
$10K for a car purchase. The account we were removing the money from
was NOT small.

They wanted $10 to process a cashier's check.

We tied up two of their people for about 15-20 minutes dragging cash
out of the vault, counting it out to one-another and then to us. I
suspect that cost more than processing the check. I would have been
uncomfortable carrying that much cash but we were depositing it in
another bank 20 minutes away.

If it was a purchase from a dealer it's surprising that the dealer would
not have the ability to do Check 21 processing on personal checks.

If a business wants a bare negotiable or cash why would they want to
deal with personal checks?

On 10/2/2011 7:40 AM, HeyBub wrote:
zzzzzzzzzz wrote:
On Sat, 1 Oct 2011 20:24:45 -0500,
wrote:

zzzzzzzzzz wrote:

Now try taking $25K in cash out of the CU. Most banks don't have
all that much money sitting around. That kind of withdrawal,
without notice, can really put a crimp in the rest of their week.

A customer of mine tells this story: He gives his wife a check on
another band for the household account. The bank declines to give
her cash. He goes to the bank to raise hell. They tell him the check
could bounce, so they have a "hold" policy.

He puts a $200,000 CD on the counter and says: "Cash it!"

All kinds of wiggling occurs topped by "we don't have that much cash
in the bank." His retort: "You're a branch of [name redacted], get
on the ****in' phone and order an armored car full of money. If I
don't get my cash in exactly one hour, I'm gonna call the cops and
report you for theft and conversion by bailee. Then I'm gonna call
the Comptroller of the Currency and demand your national bank
charter be yanked. Then there's the state banking commission, the
rat abatement people, and anyone else I can think of. And all that's
before tomorrow morning when I contact my lawyer!"

He got his money. It took slightly more than an hour for couriers to
deliver cash from nearby branches, but he got his money.

SOunds like a tall tale to me. Banks are not required to close
accounts over set limits in the same day and there are limits on cash
transactions, too. Not to mention that if they ain't got it, you
can't have it.

Could be a tale.

Naw, anything written by "Heybub" has a 99.9% (wait 99.999999%) chance
of being a tale...


He did, however, stop in my store across the street from
the bank to use my 'phone. He had a transfer bag full of cash with him and
called the constable's office looking for an armed escort to another bank.

The constable's office declined, so I loaned him a pistol.

Everything worked out swell.

"Tony Miklos" wrote in message
...
On 9/30/2011 12:18 PM, Red Green wrote:

I don't understand why anyone would stay with a debit card unless their
credit rating is so bad they can't get a credit card.

I use credit cards (3) which one depends on where and what I'm buying. I
pay no monthly fees, no interest, and actually I get between 1 and 5%
back. Why pay them when they offer to pay me?

Ding, Ding, Ding, we have a winner. I get back at least $750 a year from my
BoA credit card and I never pay them one thin dime. I charge every purchase
over $5 and put every bill I pay online on the card and pay it off every
month. Couldn't be easier and I never have to worry about fees or
over-drawing my checking account. Plus, if your debit card is stolen and
your account drained, the bank has no obligation to return your money. If
someone steals your credit card (or even just the info) you're not
responsible for the charges.

In article ,
"h" wrote:


over $5 and put every bill I pay online on the card and pay it off every
month. Couldn't be easier and I never have to worry about fees or
over-drawing my checking account. Plus, if your debit card is stolen and
your account drained, the bank has no obligation to return your money. If
someone steals your credit card (or even just the info) you're not
responsible for the charges.

And because of this, the CC issuer's fraud units seem to be more
vigilant (sometimes TOO vigilant probably) in keeping an eye on the
accounts and freezing them.

--
People thought cybersex was a safe alternative,
until patients started presenting with sexually
acquired carpal tunnel syndrome.-Howard Berkowitz

SMS wrote:

I have a commercial account at a credit union.

Ok, you have a commercial account.

they told me they could no longer accept checks made out to my
business into my personal CU account anymore

But you have a commercial account. Why are you depositing business
checks into your personal account?

and said that it could only be done in a commercial account.

Well, that's ok - isin't it? After all, you do have one. You said you
did.

All they needed was my fictitious name notice

What is a "name notice" ?

to open the commercial account.

But wait - you already have a commercial account. ?!

h wrote:

Ding, Ding, Ding, we have a winner. I get back at least $750 a year
from my BoA credit card and I never pay them one thin dime.

Where do you think they're getting this money to pay you?

They're getting it from retailers who are paying increasing amounts for
CC processing charges and in turn they are raising the price you pay for
retail goods to compensate.

On 10/2/2011 10:48 AM, Home Guy wrote:
h wrote:

Ding, Ding, Ding, we have a winner. I get back at least $750 a year
from my BoA credit card and I never pay them one thin dime.

Where do you think they're getting this money to pay you?

The tooth fairy?



They're getting it from retailers who are paying increasing amounts for
CC processing charges and in turn they are raising the price you pay for
retail goods to compensate.

Of course they are. There is no magic involved. I actually like the idea
of the bill that led to debit card fees. Originally it was supposed to
cover both debit and CC and envelopes got to the right people so it only
covers debit cards.

I think it is a good thing because it will force competition among the 4
banks who control most of the banking in the US (anyone see any problem
with that?) So maybe BoAs $5 is too high. If so they now find themselves
in a competitive environment and the market forces will adjust things.

I think all debit and CC charges should be clearly broken out so the
buyer can see them and decide at purchase time. So say someone wants
rewards they pay a higher charge to cover their rewards.

"Bob F" wrote in :

Ron wrote:
Fortunately, I'm a USAA member, so if Wells Fargo tries to pull any of
that crap, I'll just take out all of my money and do my banking with
them.

USAA doesn't play those stupid games.

https://www.usaa.com/inet/pages/bank_main


Thanks for that. I'll check them out for sure.



Might be worth including in your R&D.

http://www.ally.com

Red Green wrote in
:

BoA heads up a cast of characters.


http://finance.yahoo.com/news/Bank-o...-apf-138142509
2.html?x=0


Picture Summary: http://oi54.tinypic.com/vx1amv.jpg

....and today's bashing on the same subject.


http://finance.yahoo.com/banking-bud...ecking_savings

On 10/2/2011 12:58 AM, SMS wrote:
On 10/1/2011 5:37 PM, zzzzzzzzzz wrote:

A *long* time ago, CUs weren't allowed to clear checks through the
system.
They got around it by affiliating with a bank and issuing "drafts". Same
thing, usually. That changed at least 20 years ago, though. CUs also
can't
do commercial accounts, so there are some differences but for most,
CUs are
the way to go.

I have a commercial account at a credit union. In fact they told me they
could no longer accept checks made out to my business into my personal
CU account anymore (they had been able to do that previously) and said
that it could only be done in a commercial account. All they needed was
my fictitious name notice to open the commercial account.

Since you have a business you may want to ask your accountant why they
didn't flag that years ago. Commingling of personal and business assets
is not considered good form.

"aemeijers" wrote
And I go get my own damn plates. Enough with these BS 'processing fees'.
What part of 'the cost of doing business' do they not understand?


They understand it very well and are able to push it off as a line item on
the invoice.

Same as the "hazardous material disposal fee" that automatically add 2% or
so the the bill. I took my car to the dealer about replacing the broken
They removed the charges. In addition, my next two cars were from a
different brand and dealer. I pass that dealer every day and often wave to
the salesman.