Are you aware of how bad American banks are screwing Americans with shady practices and excessive fees?

Question

Many times the customer is TOTALLY INNOCENT yet gets charged by this robotic, computer-driven system regardless. For instance, if someone gives you a check that is "bad" (i.e., a check not covered by funds in the maker's account) and you deposit it and write other checks against it on good faith -- all the other checks you write will bounce. This is due to no fault of your own, yet you will get charged as much as $31 for each bounce.

I suggest everyone reads this article if you have ever incurred insufficient funds in your account. The point of this is we as people are getting screwed by banks and NO ONE is doing anything about it.

http://www.mecfilms.com/universe/articles/banklet.htm

The BANK'S computers and policy seem to be QUICK to debit and SLOW to credit. Thus increased fees are generated at the expense of the customer.

The reason I say "fraudulently appropriated" is because one of the strongest elements of fraud is the intention to deceive. Because of various ABA meetings that are public record, it is evident that senior management of banks are well aware of this bounced check fee practice and have expressly intended for it to be a profit center. In fact, at least one bank has acted to bolster its profits by such despicable practices as processing larger-denomination checks first so that the likelihood greater quantities of smaller-denomination checks will bounce.

Answer 1

Well i am not shocked by what I just read. No one will do anything about it cause important peoples pockets are being filled while the middle-class and lower-class of America becomes misinformed of how their banks operate and not one politician could give two rocks about it. I guess its time someone speaks up for us Americans.

Answer 2

Well I have had an incident recently where my bank charged me a 1.00 fee for calling the bank to speak with a representative and well lets just say it got ugly from there. I guess that's my fault for having only .98 cents in available funds at the time. But I guess its not my fault for not knowing that they charge me every time I call and speak to a rep. But I loved how quick the bank debited that 1.00 fee so that my account would go into the negative real quick. So basically I got screwed out of like 90 bucks cause i still had three transaction that showed online as already pending so one would think its already credited nope not according to my bank. So pretty much I read this article and now I'm completely pissed.

Answer 3

It doesn't matter if the bank gives a free checking or whatever it is they offer. The checking account's fine print ALWAYS, BUT ALWAYS says the same.

I learned the hard way...ONCE, and that was all it took. When someone gives me a check, I go to THEIR bank and have it cashed, then I take the cash to my bank and deposit it. It has never, ever been a wise move to write a check on a check that was given to you...never. ALWAYS wait the 7-10 business days before it clears. Then inquire with your own bank to make sure it did.

Answer 4

i think your soreness! attempt this; a definite economic institution (wachovia), will help themselves on your money any possibility they get! Say you deposit $a hundred on friday, then you are making a number of small debits over the weekend, a pair of them being eating places, totaling $ninety 5. You look on the acct. on Monday, and your acct. is unfavorable! Their clarification for that's that when the eating place makes use of your card, the economic institution (wachovia) quickly provides $10 to the bill for the top that in many circumstances comes later. nicely, they don't recognize which you purely tipped $2 in line with transaction, yet they not purely debit $10 each and every, yet then they charge you a nsf value of $30 in line with each and every nsf! It took me a week to get my a refund!! i don't economic institution there (wachovia) anymore!

Answer 5

I am and so is the Dow Jones Industrial Average down alot because of shady home loans. Bye Bye cash money hello accountability.

Answer 6

u got that right!!!! thats happened to people i know. i think banks r greedy even to the point of being evil. and look at the money u deposit into your savings. it doesnt sit there. they use it. and for what? WHO KNOWS! im sure much of our money is used for things we would NEVER want them to use it for and i think its hurting America. plus, the measley interest they give you? and how does that compare to what they get out of using OUR money to make their money. yeah yeah it makes me mad. Anddddd, many large banks arent even owned by the USofA. good luck to all of us. we r gonna need it!!

Answer 7

excuse the expression but you called oney there! BAnks have a license to steal!

Answer 8

Yes, that is why I quit B of A they rip you off big time!