It’s expensive to be poor

[*TheLeonardLeap*]

(09-29-2016, 02:33 AM)RICHMONDBENGAL_07 Wrote: 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.

Yeah, you almost always get infinitely better results if you go into the bank in person and just have a friendly conversation on the topic. Compared to calling on the phone or going in with a predetermined hostile attitude.

Had my vet status on the account so no fees or anything, but somehow it got switched back to a normal account (probably greedy bank) and I noticed my balance wasn't quite as high as I thought it should be, but I knew it wasn't the people at the bank, they're just normal people. So I went in, talked to one about how I opened the account as a vet, I get my military disability checks auto deposited in the account, etc. They apologized, were happy to help, switched my account status back, and refunded the fees that I was wrongly charged.

It's amazing how much can get done with a conversation in person and a friendly smile. Apparently some people have just never learned that lesson, or forgotten it, though. Employees are people, too, and don't represent the corporation itself.

(09-29-2016, 11:58 AM)Mike M (the other one) Wrote: No problems here, I'm with a Credit Union now. No minimums and when I get charged for an ATM Fee, I bring the receipt in and they reimburse me. I discovered most of those banking things when I was younger and living paycheck to paycheck. So I got very picky about who I banked with. PNC is who killed me in my youth, 5/3rd is terrible as my son has found out. You can have the minimum in there, but they still take a monthly fee from you, so once it falls below the minimum from them taking monthly fees, you get dinged again and again each month. He left the $20 (min) in there, but after 2 months it was -$35, told him to pay it, close it and I opened him one at my Credit Union.

I also find it crazy that banks will take a small % of your paycheck if you opt to cash it there and you don't have an account or your employer doesn't have an account with them. Unfortunately, it's called Greed.

Yeah, there's some bad banks out there, but with a little bit of shopping around, it's not hard to find a good one. Just gotta remember that they are the ones who want your business and are often willing to match/beat any offer or deal others make. Same with shopping for a car.



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This thread just reminds me that I hate large parts of the education system. They feel the need to teach everyone Algebra II, Pre-Calculus, and what some stuffy dead British poet had to say, but they don't teach money management, how to negotiate for a car, how to find the right bank, how to do a job interview, how to make a resume, how to change a car tire, how to go about getting your first apartment.

A whole lot of useless shit is taught (useless for most, not all I guess) and very very few practical things you will really need in your life.