2006-06-19 18:06:50 · 8 answers · asked by Diamond 1 in Education & Reference ➔ Financial Aid
~They don't. People are too stupid to read the contracts and/or to ask questions before signing up for "something for nothing" promotions. I take it you got burned again?
2006-06-19 18:09:41 · answer #1 · answered by Anonymous · 1⤊ 1⤋
This is how the banks make their money. If not for those "hidden charges" they would have to rely on people who do alot of overdrafting.
As a matter-of-fact, banks don't even mind it when you bounce your check because they in turn make money! Everytime you have an overdraft, it costs you anywhere from $20.-$35.00 for it. Even if you overdraft by 10 cents, it will cost you a bunch!
~SabrinaLily~
2006-06-19 18:23:45 · answer #2 · answered by purpleskym1 2 · 0⤊ 0⤋
Just make sure you read the fine print. Unfortunately, most people don't. It would be illegal for the bank to have hidden charges and they would also be liable for lawsuits if they did.
2006-06-19 18:13:37 · answer #3 · answered by THEM 2 · 0⤊ 0⤋
Try a Credit Union. No hidden charges or fees.
And banks can get away with whatever they like so long as you agree to it. Try www.gmacbank.com or www.ingdirect.com.
2006-06-20 04:18:00 · answer #4 · answered by Veritatum17 6 · 0⤊ 0⤋
This is because banks need those charges to cover their overhead they spent
2006-06-20 04:33:29 · answer #5 · answered by dalailing 1 · 0⤊ 0⤋
the rich get richer and the poor get poorer
I agree with that fact.
Go to ING ( no fees)
2006-06-20 05:20:00 · answer #6 · answered by Ben 2 · 0⤊ 0⤋
to make money from irresponsible people (like I have been... ;) )
They say it's legitimate because you sign the contract, but they raise it as much as they want and they know most people won't try to fight it anyway.
2006-06-19 18:11:28 · answer #7 · answered by teachingazteca 3 · 0⤊ 0⤋
the rich get richer and the poor get poorer
2006-06-19 18:10:46 · answer #8 · answered by jeremy d 2 · 0⤊ 0⤋