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#107 - notaboss (07/30/2014) [-]
Honestly pisses me off when people go on about how banks are crooked and scummy. Yes, there are fees. Lots of them. You know what those fees pay for? Loans to help people get a car, home, new business.    
   
You know why you got charged that overdraft fee? Because YOU SPENT MONEY THAT WASN'T YOURS. You couldn't handle your own finances, so the bank will get a fee for that.    
   
As for the whole "the bank took money from someone that didn't have any" argument; if you have no money for food, is Walmart going to give you free bread and milk? If you have no money for gas, is BP or Chevron going to fill up the tank? No. They're providing a service. Don't like it? Don't use it.   
   
tl;dr I'm a douche bag that needed to vent.
Honestly pisses me off when people go on about how banks are crooked and scummy. Yes, there are fees. Lots of them. You know what those fees pay for? Loans to help people get a car, home, new business.

You know why you got charged that overdraft fee? Because YOU SPENT MONEY THAT WASN'T YOURS. You couldn't handle your own finances, so the bank will get a fee for that.

As for the whole "the bank took money from someone that didn't have any" argument; if you have no money for food, is Walmart going to give you free bread and milk? If you have no money for gas, is BP or Chevron going to fill up the tank? No. They're providing a service. Don't like it? Don't use it.

tl;dr I'm a douche bag that needed to vent.
#121 to #107 - guardianranger (07/30/2014) [-]
I agree with about all you said except some banks really are just assholes. My bank took my entire paycheck and "Held it" Because I bought gas with the card. I called them and they told me "It was probably the gas station, we don't do that." Then I was told by the manager it is not them ,but indeed the bank because they've had lots of problems with them doing this. Now, you may say "Did you read the fine print blah blah..." Yes, I read it thoroughly and asked if there was anything I should know that might not be in the paperwork. They told me straight to my face that everything is in it. Again, I read it thoroughly and completely. (I always read before I sign) so I couldn't buy food for my family until Wednesday. (it was Friday when they did it) They told me It would take at least 3 days to process then return and they didn't work on weekends. I would not use banks except with almost any job anymore your paycheck has to go straight to a bank. No more paychecks, they all have to be direct deposit now.

TL;DR : Just venting too.
User avatar #123 to #121 - trocadero (07/30/2014) [-]
Most banks have those precautions in place. If you deposit your paycheck through an ATM the first $100 is available while the rest goes on hold. But if you go into the branch and you're friendly they can "forget" to put a hold on it. Also most banks will release the hold if you come into the branch and provide a valid reason why you need the funds available.

TL;DR Tips on avoiding the holds from a bank teller at BMO
#153 to #123 - notaboss (07/31/2014) [-]
The US federal law has pretty strict guidelines on when and why banks can place a hold. For example:

Person A and Person B both have $5,000 checks.

Person A has an account with an average balance of $800.00, and in the last 12 months they've overdrawn their account 16 times. There will most definitely be a hold placed on this check (unless it's a cashier's check).

Person B has an account with an average balance of $50,000, and has never overdrawn their account. This check can be made available immediately, or even cashed.

tl:dr there's a reason that a hold was placed.
#141 to #123 - IamWhoIam (07/30/2014) [-]
I bank with BMO. You guys actually treat us like people.
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