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Bank Of America What a joke.

Discussion in 'Off Topic Threads' started by Auctioneer, Feb 27, 2012.

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  1. Auctioneer

    Auctioneer Well-Known Member

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    Just walked out of a Bank Of America bank. They wanted $6.00 per check to cash them. $6.00. I said NO. I called a branch and asked about opening a account and everything they have will cost you either $8.50, $12.00 or more per month. All I wanted to do ws put ONE dollar in the account and thats it.

    Jefferson said that banks need to be kept in check so they wouldn't distroy this country. He was so right. Banks think everyone is there for them to milk like a cow.
     
  2. Erik W

    Erik W Member

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    Like it or not, most people conclude that they must establish a "meaningful" relationship with a financial institution of some sort or forever suffer the conseqences with high fees. With banks, the threshhold of a "premier" (no fee for anything) relationship is pretty high; lots of $$ on deposit for little interest. More people are going to credit unions for somewhat better treatment with more modest relationships, but even there, a $1 deposit is not going to help.
     
  3. BigM-Perazzi

    BigM-Perazzi Well-Known Member

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    That's to prevent homeless people from opening an account with ONE dollar and writing bad checks against the account.....
     
  4. KKBUILDER

    KKBUILDER TS Member

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    It must of went up a dollar.The last time I cashed a check drawn there it was $5.00 without account there.I tell customer now to cash it for me,or I want cash.good luck
     
  5. Auctioneer

    Auctioneer Well-Known Member

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    I just got back from my Credit Union. Yes I'm with a Credit Union. They said there will be a 2 day wait to cash them once deposited. I asked them to call Bank America and they did. There is a code each bank has to ID themselves to each other. B of A refused to say yes or no if the funds were there or not. Privacy reasons. Any other time my C.U called another bank they got an answer. All I wanted to do was cash the checks. Nothing more or less. What a bunch of AH's.
     
  6. vpr80

    vpr80 Active Member

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    What kind of a moron opens an account with $1 and expects it to be free. Don't you think that the branch that you walked into needs to pay the teller that works there, pay for the lights, pay for the real estate, pay for the security guard, etc. And you want them to do it all for free so that you can deposit $1?

    And I don't know where you got the notion that "cashing" a check is a free service. If you wanted CASH, then you should have asked for it from whomever gave you the check. Cashing a check requires risk on the person doing it and no one has ever done it for free. Otherwise, wait a day or two like every other normal person for the check to clear.
     
  7. Auctioneer

    Auctioneer Well-Known Member

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    vpr80, you must be a 5 year old who doesn't or can't understand anything.
     
  8. oldgahchamp

    oldgahchamp Active Member

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    My Bank does not charge to cash checks for me. There is no "sevice charge" either. Also, I am Treasurer of a Trapshooting League and we have 2 accounts there, one is a regular checking acount and one is a Scholarship Fund and both are FREE, and after each shoot, they gladly do about 50-60 shoot report photo copies, again, FREE. I am also a credit union member with no fees but great dividends. Bank of America was once renamed Bank of Amigo wasn't it? Lary Evans
     
  9. Oscar Ray

    Oscar Ray TS Member

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    If the check is drawn on the bank you are trying to cash the check in, you do not have to have an account, and I have never heard of paying to cash a check. I belong to 2 credit unions and absolutely love them. I pay no fees what so ever and get free checking. I just closed the account I had at Suntrust Bank because they instituted outrageous fees. My wife and I each had a checking account, a joint savings account and our mortgage thru Suntrust. I had direct deposit of my retirement check, so I had money going into the accoount every month. Well they started with a fee of $7.00 if your checking account went below $500 at any time during the month, and a $4.00 if your savings account went below $1,000 at anytime during the month.

    The local bank (Metro Bank) is a great value also, Free checking, no minimum balances and Oh Yeah, they are only closed 4 days a year, Thanksgiving, Christmas, New Years day and Easter. They are open every other day of the year to include Sunday. If you are 50+ you can get a safe deposit box free the first year then a reduced rate after that.

    Oscar
     
  10. Wildcat Lewis

    Wildcat Lewis Member

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    Oscar

    When you forget to cash your Bank of America check from Silver Dollar Shooters club before leaving the club (which they are always glad to do) be sure to deposit or cash it at one of your other banks. Believe me, B of A will not cash it without charging you a fee unless you maintain an account with them! Now you have heard of it-----------I hadn't either untill it happened to me last spring!

    Lewis
     
  11. need to shoot more

    need to shoot more Active Member

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    I was asked to pay $10.00 to cash a check that my employer has with this bank but I do not the bank is Wachovia
     
  12. powertrader

    powertrader TS Member

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    i bought BAC at $4.70, sold it at $8.70. I luv um.
     
  13. Oscar Ray

    Oscar Ray TS Member

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    Lewis,

    Thanks for the info, that is outrageous! I have to get on my sister who works for BOA in North Carolina. She has been with them a long time and has enought time in to retire, but she really cannot afford to. She goes to work everyday, wondering if she still has a job. Last year, she went in on monday and found out she was the only 1 left on her team, the other 4 had been layed off, 1 had 22 yrs with the bank.

    I opened an account with Metro for my shooting/gun fund and they treated me like gold. They even have 10 free transactions per month for using an ATM that is not theirs, to go with the free checking.

    Oscar
     
  14. Auctioneer

    Auctioneer Well-Known Member

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    I bank at a Credit Union and the check that I was trying to cash was a B of A check. So I went to a B of A to cash it. As I stated above they wanted $6.00 per check. It was a check from someone who has an account with B of A. Now I can't get the money till it clears my account at the CU. That will be late Wed.
     
  15. vpr80

    vpr80 Active Member

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    You people live in LA-LA land to expect anything for free. These banks are a BUSINESS, yeah I know this is a tough concept to understand. As such, they exist to make a profit. If they provide (or used to provide) certain services for free, it was because they made their profit elsewhere in the business. Given the new regulation, low interest rates, etc etc etc they simply can't run business as usual and must now compensate the lost profits in their other business lines and charge for certain banking services. Because guess what, as I said before, that bank branch that you are trying to use, is NOT free to own and operate.

    And Auctioneer, trust me pal, you don't want to argue finance with me because, unlike most people that live with you in LA-LA land, I actually do know what I am talking about.
     
  16. hmb

    hmb Well-Known Member

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    Mac, Direct deposit fees passed where? HMB
     
  17. halfmile

    halfmile Well-Known Member

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    Once again, there has been an increase in the money banks extract from their customers.

    I had M & I, just bought out by Harris. Now the minimum is 1500, and the monthly went from 12 to 15 if you don't keep the minimum daily balance.

    OTOH I have a coupon for a $150 gift if I open an account with Chase. they have other coupons online. So if I park 1500 there for 6 months I get $150, that's 20% interest.

    Go figure.

    HM
     
  18. Auctioneer

    Auctioneer Well-Known Member

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    vpr80, I take it your one of those people working in a bank or a banker. That explains your attitude. I bet you even voted for Obama. The banks need to remember it isn't there money.

    Lets put it this way vpr80, you go and shoot trap. You pay for the round of trap either before you shoot or after you shoot. The person who is running the trap field comes out and says that you didn't pay enough. You owe us X$ to clean up your lead, X$ to clean up your broken targets, X$ to pick up your wads. OH yeah one more thing. You used the bathroom 2 times while here. That and extra cost of $$$.

    Not much diff then a bank charging you to cash their own check. How would you like it if that happened to you the next time you went shooting?
     
  19. oldgahchamp

    oldgahchamp Active Member

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    Our CU gave us $50 to open our checking account. In addition, if we refer new customers, they will give us $25 and the new customer also gets a $50 gift. We went to the CU for a home equity loan to buy an income property, and they processed everything in a week, and on top of that, they also pay great dividends. I still can't understand how regular banks can complain about not making any money when they only pay 1/4 to 1-1/2% on CDs and charge from 6% to as much as 23.99% for loans and credit cards. The last time I checked, an 8% loan is a 800% mark-up over a 1% CD. In my opinion, most banks have licenses to steal and they are taking advantage of them. Larry
     
  20. DoubleAuto

    DoubleAuto Well-Known Member

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    Wonderful Auctioneer. If someone on here doesn't agree with you your answer is "they must have voted for Obama". What a cop-out.
     
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