Your local bank will never “set up the bar”.
Last year, I called a credit union where I had an account to find out the balance of that account.
They said the could tell me, but it would cost me a dollar.
“WTF??”
Yes, they said, I could obtain the balance on line, but to obtain it over the phone is subject to a $1.00 service fee. Oh, and would I like to participate at the end of the call in a short customer service survey?
I said “Are you gonna charge me a dollar to do that also?” I hung up on the cheap bastids.
Needless to say, I closed my account there.
I’m of two thoughts here. Of course, the escalating fees should have been waived by a better trained employee of the bank, considering the overall situation. However, I’m sure all of the banks fee schedules and rules were made available when the kid signed the documents opening the account.
If you’re going to dance with minimal balances, you better pay attention.
I used to think old people were stupid for stuffing money under the mattress instead of in a bank account, but I can see where they were coming from now...
I used to think old people were stupid for stuffing money under the mattress instead of in a bank account, but I can see where they were coming from now...
Maybe this kid will become an OWS protester; I could see why.
Only three hundred dollars?
I have personally seen a foolish young relative skewered for closer to eight hundred dollars by US Bank for a roughly similar mistake.
This news is not new. Almost the same thing happened to me when I was a teen, over 20 years ago. It also happened to my brother when he opened his first account.
Simple as that.
Hilarious Louis C.K. bit on bank fees. CAUTION; VERY SALTY LANGUAGE!
http://www.youtube.com/watch?v=J0rSXjVuJVg
I hope the young man learned a lesson. Go into any business transaction with your eyes open and don’t expect anything for free.
The problem is less the bank than the Congress. The banks have very effective lobbyists who get the Congress to let them do almost anything they please.
Bank regulators don’t and the banks are allowed to get very creative about the fees they can charge, much like the airlines.
I’m expecting the airlines to start adding a surcharge to their tickets for the flight attendants making announcements during the flight.
Only a moron does business with a “bank”. Credit unions are they way to go. Been a member since 1984 and never looked back. No fees.
can’t wait for the kid to learn about federal & state taxes the hard way....doub’t ABC News/Yahoo will have an article on that
Wells- fargo - recieved a check from an auctioneer that was drawn on his wells fargo account... Went to wells fargo to cash it. Wanted to charge me 10.00 to cash a check drawn on their bank because I didn’t have an account with them.
Then they asked me if I’d like to open an account.
Waited until I could deposit it at my credit union.
WTF - I thought they were a BANK.
more support for my theory that a Populist anti-Banker Jihad looms in our political future