We're overdrawn :(

[babylady4]

I hate it when you use your debit card as a credit card and they still ding you with overdraft fees even though the transaction has not gone through yet, then if you are still overdrawn they will hit you again with an overdraft fee....

And this IS a CREDIT UNION.

 

[WriterofWords]

I know how you you feel. My credit union will have my direct deposit waiting in the wings but will try and squeek through any checks they can to bounce to get the fees. Then I call them and say hey,,, my check is there why the fees,,, and they refund them. They also used to do the direct deposits the day before like the 14th instead of the 15th but stopped that darn it.

 

[Chicksdigit]

Quote:
But you can close your Checking account with them or just open another account at another Bank and not let them make the monty off of you. They advertise and advertise for your business and then they shoot themselves in the foot by messing you around. I wouldn't put up with it there are too many banks willing to
get the opportunity to mess with you to be held hostage by the one because you have a Mortgage with them. They all want to get as much as they can from you but some are a lot more reasonable in their Usury.

 

[Guinea Goonie]

mom'sfolly :

Paying exclusively with debit cards is not a good idea either. Like credit cards, companies can put a "hold" on monies over the actual charge. So if you have paid for a hotel room, they can hold more than your payment for a period of days. This is completely unregulated, and allows companies to use your money and makes it unavailable to you.

I like my credit union. The other thing I hate is fees for ATMs. ATMs were supposed to make banking cheaper because no one had to pay tellers. However, banks saw that they could be milking that cash cow....if I use one ATM near home, they charge me three dollars, and my bank charges me $2. Extortion, plain and simple. If I was to withdraw $100 of my own money they would charge me 5% just for convience; the percentage would be even higher if I withdrew less money.

Off to pay the water bill. Thank god it has been raining.

Holy crap, I forgot about the institutions that put a "hold" on your debit card.
It has been such a long time since I did this, I forgot about this one.
I use My capitol one card for those "redbox movies" for a buck and hotel rooms and also for plane reservations.

I have not been out of the COUNTY (not country) and the state for a long time now.

Also, many times if you are out of town, you will be hit with a 2 dollar convenience fee for an atm withdrawal EVEN AFTER you get hit for one for 2 bucks up front.
Yep, i remembered this one.

OH, you gotta love the banking system. They have made it SOOOO easy for you to mess up and PAY UP.​

 

[mom'sfolly]

Yep, gotta love all the tricks they do to make their money.

We moved from a state that for mortgage escrow accounts (taxes and insurance) companies were required to pay interest on escrow accounts. The additional upside of this is that they always calculated the escrow to the dime, we never had a year with a check back or had to pay more. Here in Texas, they don't have to pay interest, and the escrow amount is off all the time....ARGH! But at least we went with a company that doesn't sell it's mortgages; that's on headache we don't have.

Banks seem to be able to nickle and dime us to death.

So many credit cards have hidden fees too; like interest payments starting at 21 days when they only bill once a month.

I think we need more banking oversight, but that's just me.

 

[crzychickenlady]

I didn't make it all the way thru the thread, but I have to respond.

Banks are the enemy! I had an account with BOA and they racked up all these extra fees that made absolutely no sense, they were actually charging me 2 NSF fees for each one! I went to the bank, wrote letters and got nowhere, so I told them where they could stick their account! Oh and btw...it took me 2 months to get to that point, in which time they charged me even more in interest and penalties, I ended up owing 3 times what i had actually been overdrawn!

Switched to USBank....same thing with these bozos! Except they added penalties for each day that you were overdrawn! I was getting charged $30 - $40 NSF fees, plus $7 a day for each day that my account was overdrawn! In the end I owed USBank about $800 for an overdraft that was less than $150!
They are now trying to sue me for that $800! Bankruptcy here we come!

There was a story on the news not too long ago about banks and these practices, hopefully something can be done about this! They are trying regualte health care...why not regulate the banking industry..then maybe we all could afford to have health care! LOL!

I went to medical school and I had a professor that had a catchy little saying..."It's not illegal, but it sure the hell is unethical"

Hospitals and banking....could be the same industry, LOL!

Oh and I figured out a much better way to manage my money, I DO NOT have a bank account now, If I don't have the cash I just dont get it. I pay my bills with money orders or moneygram, that way I don't have to worry about bank fees and overdrafts.
I don't think I will ever have a bank account again unless it's just strictly saving!...But than again, I can always buy savings bonds, LOL!

 

[GrayDragon]

And what truly sucks it they'll charge you for their errors as well.

I think a lot of the problems would stop if we instituted a rule where every time someone makes a mistake on our accounts, we automatically get a $45 credit.

Phone company added a charge they shouldn't have? You get $45.

Bank didn't honor the direct deposit that went in at midnight until past 3pm? You get $45.

Bank decides it wants to hold your check for five days? Fine, but they have to pay you at $45 or 10% of the check's face value, whichever is larger.

Electric company randomly changed the day of it's debit without your approval? You get $45.

Fine them at least what they fine us.

That's change I can believe in

 

[Camelot Farms]

Been there... here's a hug. (((hug))). Tell the bank its worth 100.00 and you would like to deposit it.

 

[cmjust0]

Quote:
I use the same system. You can create an awesome cushion in a year!
And you can do it even faster if you round up to whole dollars.

That would drive me NUTS. I handle all the household finances (I know -- half of the ladies just cringed, half of fell out of their chairs, and the other half applauded) and if I'm off by a single penny at any point in time, I have to break out all the receipts and figure out what got screwed up. It's all in a spreadsheet, with each page of covering about 5 months....I'm currently on page 22.

To illustrate, my last natural gas bill was 101.93.. I paid it on 12/10/2004, just after moving out of our old house.

Ridiculous, right?!?

 

[HEChicken]

Quote:
I'm a lady and I'm not cringing.

I handle all our finances, and I use Quicken to track them. I also like to be down to the penny and track EVERY expenditure using the Quicken Cash Account feature, that allows me to even track the cash in my wallet. Get a drink out of a vending machine? It gets entered in Quicken. I know it sounds like drudgery but once you get used to tracking it, it gets easy. I keep all receipts and enter them every few days, so I always know EXACTLY how much we have in which account. I can also run reports to track spending. I really believe that tracking spending is the best way to take charge so that things like this don't continue to happen. Until you track every penny you spend, you don't realize where the money is going. Just knowing that helps you to cut spending and to instantly see when things are getting out of whack.