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View Full Version : That's it, I am closing my bank acct. today...



Adam Wood
05-20-2011, 03:59 PM
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1141154



FirstLight (1000+ posts) Fri May-20-11 11:53 AM
Original message
That's it, I am closing my bank acct. today...
I know we have all talked at length about the evil banks and that we should just take our money out...

With all the electronic payments and interconnectedness of the web and our banking, it is just difficult to extract oneself. I was hanging on to this acct because it was the last vestige of 'normalcy' I had left. No other banks will give me an acct because of bad credit and ex-husbands getting me on the checking blacklist. So this acct was part of my 'road to recovery'
But today I am done. I am canceling all my online attachments to this acct, killing my paypal, etc.

Bank of America has swindled hundreds of dollars from me and my family for months. If my balance is low and I know a payment is pending and I deposit cash...they hit me with overdraft fees, pay the payment and THEN take the deposit and use that to cover their charges.
leaving me with negative balance, even though I put in money to cover my butt.
Last month, I even went so far as to ask the teller and the manager at my branch what they coould do to curb this since I am on a fixed income and play life so close to the vest... supposedly he did something in the conputer to make it so that I'd get rejected before an overdraft would happen(you know, the old fashioned way when you would get a call and have to go pay your check in person)
... nope, they just took another $70 from me!
So I guess I am going "off the grid"
nothing but the cash in my wallet and my foodstamp card
when will this end? Off the grid, usin' mah foodstamp card....

FDK
05-20-2011, 04:45 PM
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1141154


Off the grid, usin' mah foodstamp card....


Good find.:D

Odysseus
05-20-2011, 05:02 PM
Oh, the entitlement mentality at work, or should I say perpetually out of work?

FlaGator
05-20-2011, 05:07 PM
Call me silly but try putting the cash in the back before the balance gets low. Banks don't charge an overdraft fee unless a payment comes due and you don't have the money to cover it. Why is the concept so difficult for some to grasp?

Arroyo_Doble
05-20-2011, 05:08 PM
You are in for a rude awakening when you realize the amount of money the bottom feeders in the finance industry will cost you if you want to conduct any business. BofA will look like peanuts.

Novaheart
05-20-2011, 07:44 PM
Call me silly but try putting the cash in the back before the balance gets low. Banks don't charge an overdraft fee unless a payment comes due and you don't have the money to cover it. Why is the concept so difficult for some to grasp?

Moreover, even shitty no-count banks (like Chase and bofa) put deposits through first, then post items. I'm guessing this person doesn't get the deposit in before the cut off.

FDK
05-21-2011, 09:32 PM
To be fair, there's a few DUmmies trying to explain some basic concepts of money management.


NeedleCast (1000+ posts) Fri May-20-11 01:00 PM
Response to Original message
5. Soooooo...why not just turn off automatic payments?

If that seems to be the problem, why not turn them off and pay things manually, thus avoiding the overdrafts.

Look, I agree BoA is a giant corporate monster and it's only desire it to make money, but if I had a nickle for every post where a DU'er has complained about their bank doing this when it could have easily been avoided, I'd have enough nickles to load up a sock and beat some sense into them.

There aren't enough nickels in the world for that. Even if you include Canadian ones.


GreenStormCloud (1000+ posts) Fri May-20-11 06:17 PM
Response to Original message
48. I have been with BofA for years with no problems.

Every day I log into my account and check the balance and balance it against Quicken. On a Word page I keep a list of ALL up coming expenses. If an autopayment is comin out on a date then I enter that into Quicken when my paycheck is deposited. No I am not rich. Right now my Quicken checking account balance is $3.91 but the bank says $87.00. There is an outstanding autopayment of $83.09 that hasn't hit yet. So I know not to spend any of that $87.00.

If you do your bookkeeping carefully and daily you won't have any problems with the bank.