It’s expensive to be poor

[Mike M (the other one)]

(09-22-2016, 02:30 PM)RICHMONDBENGAL_07 Wrote: So I didn't read through all of it because I'm lazy, but I think I got the jist.  I have my child support payments set up through the state to come directly out of my pay CHECKS, no fees involved.  I have free checking with Chase... this guy needs to learn the system.

That's not fair, if the guy doesn't have a steady and stable job. It usually takes 2-4 weeks for a new employer to set up CS, in that meantime he's falling behind. If he's behind, then he can't claim the kid(s) on his year for taxes (if he has that agreement).

But yet, I think the banks are stupid for overcharging for all of these ATM Fees.
I can go online and get my balance for free, write an electronic check for free, transfer money for free.
But if I want to go to the Carnival, I have to stop and get out cash from an ATM, and if I use the wrong ATM I can pay up to $5 for one withdrawal.

All of these Fees are just underhanded ways the banks make money.

here's another example of how they can try to get you:
My Paycheck is auto deposited on Thursday night (because it was time stamped early on Thursday, you'd expect it to be processed first), but the bank will process the debits (from highest to lowest) before they process any of your credits.

So say you have a balance of $200
debits of $175, $20, $7, $2
They will ding you overdraft fees for the $7 and $2 dollar transactions, then deposit your paycheck $500, rather than ding you for the $175 debit or deposit your check first so that it's all covered.

Then in my case, I went to the bank, fought with them and got it all cleared up and my money put back in. But fighting with a bank takes time and you won't always get your money back.