09-29-2016, 02:33 AM
(09-28-2016, 12:12 PM)Mike M (the other one) Wrote: 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.
(09-28-2016, 03:33 PM)xxlt Wrote: Most free checking accounts require a minimum balance, which can be tough to maintain when you are living paycheck to paycheck/homeless/etc. If you can't keep the minimum balance you not only don't get free checking, you incur a ton of bullshit fees on top of a base fee for your checking account. Subject of OP is not as stupid as people think.
I've never had a minimum balance with any bank I've used over the years, you can usually find one with a little research. Don't get me wrong I've certainly been screwed by banks with overdraft fees when I was younger. I've lived paycheck to paycheck, but I also didn't manage my money well either then. It's all about finding the right bank for you. I do admit though that I've benefited while on active duty in the military or as vet, for example, I'm not charged for money orders. However when I signed up with chase at the time because they were offering free checking with no min requirements of balances for anyone. It wasn't until I'd been with them for a while and needed some money orders and found out they didn't charge for vets. I didn't even have to show papers, I'd already built a good relationship with the tellers and manager, which I highly suggest, they knew I was a vet through casual conversation, and told me Chase didn't charge vets for money orders and were shocked I was in there system as a vet. They changed it then and there. They've helped me many times when things were tight. I guess my point is build a relationship with your banking staff, they want to help you. Also I guess do some research (that's not directed at either of you, just to those having trouble with their banks. Don't get me wrong there are some shady banking facilities out there.
