BofA Fees
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- randommail0
The silver lining:
I now have a good reason to get a money clip. Perhaps I can find something vintage from the 60s.
- fyoucher10
They'll likely lose a helluvalot of customers.
There are so many banks that don't charge fees. My credit card (through USAA), doesn't charge me to use ATM's and even reimburse the fees that other banks charge.
- iheartfun0
Looks like your safe with Citibank and PNC and probably all credit unions
- monospaced0
fucking pissed
- monospaced0
So, let me get this straight. They are discouraging me from spending my money and keeping it with them? Yeah...they need to take another look at why people use banks at all.
- VikingKingEleven0
There will be no cash withdrawls or check writing. If cash withdraws are allowed there will be a cap of $20 a day or some ridiculously low figure.
This is purposely done to continue to sew discontent against the banks.
Its also part of the 'redistribute wealth' class warfare that obama is so proud of. You don't own your money the govt does. Instead of passing higher taxes he will do taxes through corporate regulations.
Good luck people.
- Like others said all banks will do this, some of the fees may fluxuateVikingKingEleven
- Credit union sucka.JSK
- @viking - That make no sense at all.ItTango
- 12 grade rebuttalutopian
- akrok0
switch: how about schwab?
https://www.schwab.com/public/sc…
- scarabin0
credit union
credit union
credit union
- might have to marry my chic just to get into oneIronmonkey
- JSK0
I remember when banks used to charge $1 per transaction for using debit card.
- monospaced0
I've been considering ING for a long time, especially because of their outstanding interest rates. Any thoughts on moving over to them?
I'm already practicing using only cash and credit cards. Not easy.
- Tausk0
ING is getting bought out in US. No more ING.
- fuuuuuuuuu...monospaced
- Word? I have an acoount with them and I think they are decent.stoplying
- same here. I'm also a stock holder, they announced this last year.bulletfactory
- formed0
@ VKE - huh? I'd reread your post, that makes no sense. Why would the banks (the ones that are charging) want discontent against themselves?
The class warfare you mention has already occurred, look at the growth of the wealthiest since this downturn, that's where all the money has been redistributed to.
Money under the mattress seems like a good option. Why pay a bank for no services? No interest gain in an account
- ItTango0
As a former banker (while in school), I can tell you that fees are, and always have been, the only reason retail banking exists. Retail (general consumer products) vs Private Wealth Management or Commercial Banking.
Since the banking relationship for most retail customers centers around a basic checking account, there is little or no money to be made by their bank. The most common loan product for these customers is Overdraft protection.
In an effort to turn basic retail customers into profitable investments, banks roll out the fees. e.g. In the early 90's banks figured out that simply returning a check due to an overdraft was not nearly as profitable as paying the overdraft and charging a ridiculous fee. The last thing anyone wants is to have their car note or rent check returned. And almost no one wants to move their checking account 'cause it's a pain in the ass. Boom!
Suddenly, these "plain ol' customers" are generating just as much revenue as wealthy or commercial clients.
The thing is, most retail products are nothing (from a bank's balance sheet point of view) but cost center items. Without socking you with fees, they have little or no incentive to provide them.
And because of the regulation limiting what banks can charge for their merchant service transactions, they're looking to feed on something else.
- monospaced0
Once upon a time banks were so happy that you kept your money with them that they'd give you money just to do it. Now it's the opposite. Such bullshit.
- They are middle men. Making money on the pass through. Nothing more.ItTango
- Still, I shouldn't be losing money by using a bank! At least a respectable fucking interest rate would be nice.monospaced
- JSK0
Good stuff ItTango.
The problem is that everybody wants something for nothing.
Besides, there are products where you don't pay any fees if you have a balance.
- dibec0
crooks. greedy crooks.