If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Yahoo)   Not News: Bank of America charges $30 to stop a check. News: Every six months. Fark: Forever   (finance.yahoo.com) divider line 377
    More: Stupid  
•       •       •

35192 clicks; posted to Main » on 27 Jul 2010 at 3:39 PM (4 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



377 Comments   (+0 »)
   

Archived thread

First | « | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | » | Last | Show all
 
2010-07-27 04:56:26 PM
The Southern Dandy: Anyway, USAA seems like a pretty two bit operation, but their insurance is the cheapest I could find. I just won't bank there.

Weird. Your experience is completely opposite to any banking interaction I've had with USAA. I do all my banking with them and every time I've interacted with them, they've been exceedingly professional and helpful in all ways. I've never had any issue, except for an account being temporarily unavailable (a few hours) due to systems maintenance one evening. Not a big deal.

As for insurance, I've found I get cheaper rates with Progressive. USAA contracts with Progressive for motorcycle insurance, so they (hopefully) aren't that bad. I haven't had to file any claims yet, and hopefully won't ever. I always check back with USAA every six months to see if they'll beat Progressive's rates, but it's never quite low enough to make the switch back.
TheGhostofFarkPast: /has USAA credit card
//will probably never use it got better rates elsewhere


Really? My USAA MasterCard is about 8% and my USAA American Express is 10%. I rarely carry a balance, so it's not a big deal, but I'm surprised you can get better rates.
 
2010-07-27 04:58:36 PM
twfeline: Wells Fargo.

I was overdrawn $2. They charged me $30 EVERY DAY that I was overdrawn.

It went on for a week, before I checked my account online and noticed.


Yeah, ridiculous, right? The same freaking thing happened to a friend of mine. He said he received no notification whatsoever until he deposited a paycheck and his paycheck seemed to disappear.

Another dude I know got charged a $30 overdraft fee, then a second one a week later, but there was a bank error so really there was no overdraft. They still held him responsible for the $30 for the second week, took the $30 out his bank account, putting him in the red, and then hit him with a third $30. Then he went crazy (unrelated), so I stopped talking to him. The End
 
2010-07-27 05:00:56 PM
Felgraf: I don't think I've ever had any problems with BB&T...

Same here I got 9 overdraft fees from something that was only mildly my fault and I got them waived and $700 more constant credit so it does not happen again.
 
2010-07-27 05:03:13 PM
I know everyone has their own stories but basically, TCF screwed me over every chance they could. BOA screwed me over every chance they could. Wells Fargo went out of their way to help me/hasn't dicked me over once.

I'm a WF fanboy. Seriously.
 
2010-07-27 05:03:23 PM
know how I know the bank is a bunch of lying shiatbags?

"...He added that the Bank of America's goal was not to get rich $30 at a time...."

To those of you who aren't aware, THIS is actually BOA's farkING MISSION STATEMENT!!! THEY EXIST TO GET RICH OFF OF BULLshiat FEES.


/never had an account there, but they farked my parents account up unfathomably

//use a local credit union where you actually have a stake in your financial institution, and don't buy shiat you can't afford = the big banks lose.
 
2010-07-27 05:04:08 PM
Snakeophelia: When my CU received the check, they did not seem to notice that the check # was way out of sequence and the amount was far more than I'd ever written a check for - in fact, for about 5x what I had in my account.


Can you imagine the reaction of the general public if their bank completely locked down their account every time you wrote a check out of sequence OR spent an amount that they, the bank, thought was too much for you to be spending?

That's why they didn't call you.
 
2010-07-27 05:04:24 PM
heypete: The Southern Dandy: Anyway, USAA seems like a pretty two bit operation, but their insurance is the cheapest I could find. I just won't bank there.

Weird. Your experience is completely opposite to any banking interaction I've had with USAA. I do all my banking with them and every time I've interacted with them, they've been exceedingly professional and helpful in all ways. I've never had any issue, except for an account being temporarily unavailable (a few hours) due to systems maintenance one evening. Not a big deal.

As for insurance, I've found I get cheaper rates with Progressive. USAA contracts with Progressive for motorcycle insurance, so they (hopefully) aren't that bad. I haven't had to file any claims yet, and hopefully won't ever. I always check back with USAA every six months to see if they'll beat Progressive's rates, but it's never quite low enough to make the switch back.
TheGhostofFarkPast: /has USAA credit card
//will probably never use it got better rates elsewhere

Really? My USAA MasterCard is about 8% and my USAA American Express is 10%. I rarely carry a balance, so it's not a big deal, but I'm surprised you can get better rates.


I'm sorry I should clarify, their regular rates aren't bad but between my wife and I we are mostly looking at transfer rates, and we can still get some good 0% for 9-12 months elsewhere. My wife has an amazing score so we mostly just use her credit for some pretty low rates year to year.
 
2010-07-27 05:04:43 PM
renstar: I only got my USAA CC because they charge only 1% for foreign currency transactions, my other cards are like 3-4%. Everything else is pretty competitive.

FWIW, CapitalOne doesn't charge anything for foreign currency fees (other than what Visa/MasterCard).

Then again, it's CapitalOne...

/told CapitalOne to pound sand and close my account this weekend
 
2010-07-27 05:04:57 PM
I use citizens no fees and far better service.
 
2010-07-27 05:05:01 PM
Mominator: video man: Is this the thread where I can act all smug about my credit union?

Sorry, sport. It's common practice at most if not all financial institutions to only do stops for six months, even at credit unions.

I love credit unions too, so much that I work for one. Why anyone would still be with a bank is beyond me.

Was that smug enough? ;)


That's not what TFA says.

Anyway, USAA FTW.
 
2010-07-27 05:05:10 PM
Personal cheques are only valid for 6 months, so it is still effectively $30.
 
2010-07-27 05:06:15 PM
Talk about sneaky overdraft fees. M & T bank has taken it to a new level. Yes the usual debits first, then deposits, and the always the largest check or debit first but to insure that the money machine keeps rolling they do not notify you of an overdraft for 10 days. Yes 10 days by then all kinds of little debit card purchases can accumulate at $37 a pop. Stay away from M & T Bank. (Guess they need the extra money to pay back TARP and the millions in compensation to the bosses
 
2010-07-27 05:06:28 PM
sattizahn: Wow, that's weird. I have BoA, and I've never been charged any fee. Counting, stops, anything. It might be different since I have a business account, though...

BULLshiat.


/writes EFT software
 
2010-07-27 05:07:33 PM
Bank fees ....


robbierussell.net
 
2010-07-27 05:07:40 PM
lwpengy: Talk about sneaky overdraft fees. M & T bank has taken it to a new level. Yes the usual debits first, then deposits, and the always the largest check or debit first but to insure that the money machine keeps rolling they do not notify you of an overdraft for 10 days. Yes 10 days by then all kinds of little debit card purchases can accumulate at $37 a pop. Stay away from M & T Bank. (Guess they need the extra money to pay back TARP and the millions in compensation to the bosses

You're farking kidding.
 
2010-07-27 05:09:24 PM
heypete: renstar: I only got my USAA CC because they charge only 1% for foreign currency transactions, my other cards are like 3-4%. Everything else is pretty competitive.

FWIW, CapitalOne doesn't charge anything for foreign currency fees (other than what Visa/MasterCard).

Then again, it's CapitalOne...

/told CapitalOne to pound sand and close my account this weekend


CapitalOne farking rules. When I was unemployed for 3 months they were cool with me making the 15$ minimum payment each month which I borrowed from my GF. No hounding at my door or on my phone, despite that my card was all but maxed, sans the 15$ a month I was putting back into it.
 
2010-07-27 05:09:28 PM
video man: mrtoadswildride: video man: Is this the thread where I can act all smug about my credit union?

Yes, as long as I get to be smug about my bank having more than 6 ATMs...in the entire world.

Seriously....I would simply tell BoA this, "Is it worth losing a customer over $30?" If it is then thank you for your time I'll be closing my account as soon as I hang up the phone. If not, I suggest you find a way to make this permanent."

/I gave a similar speech to Circuit City when they screwed me on a rebate.
//Never shopped there again
///laughed when they went under

ATMs? You buy stuff without a credit/debit card?


Ummm you are aware that you can put money INTO ATMs...and then you don't have to deal with lines, deposit slips, or people?

And Yes, I like to carry around $20 in cash just in case.

/Although, I guess if you have never left your mother's basement you probably don't have to worry about needing/depositing money in different states???
 
2010-07-27 05:10:02 PM
heypete: FWIW, CapitalOne doesn't charge anything for foreign currency fees (other than what Visa/MasterCard).

Yeah, thats what the 1% fee is, so it works out the same, nothing over and above VISA/MasterCard. Plus not having to deal with CapitalOne.
 
2010-07-27 05:10:10 PM
have not read all the comments, so forgive me if repeating, but an oral stop payment is only valid 6 months, a written stop payment is permanent. Of course BOA isn't going to tell you that. Just keep renewing your oral stop order at 30 dollars a pop forever, we promise it's the only way to be sure.
 
2010-07-27 05:10:24 PM
mrtoadswildride: Yes, as long as I get to be smug about my bank having more than 6 ATMs...in the entire world.

that's what surcharge alliance networks are for.

example: Privileged Status
 
2010-07-27 05:11:29 PM
I'm not American, but for the sake of Cool Bank Stories, Bro:

So, a few years ago, I started getting hit with $30 overdraft fees, anywhere between one and five times a day, even though my account still seemed to have a few thousand in it. After a month of fighting (and eating the fees), it came to light that one of the bank workers was embezzling from customers' accounts and changing something so that our balances appeared normal on receipts. I was never reimbursed for the stolen cash or the fees.

/Changed banks soon after.
//Laughed like a hyaena when they went bankrupt.
 
2010-07-27 05:12:36 PM
TheReverendLei: CapitalOne farking rules. When I was unemployed for 3 months they were cool with me making the 15$ minimum payment each month which I borrowed from my GF. No hounding at my door or on my phone, despite that my card was all but maxed, sans the 15$ a month I was putting back into it.

So, you were under your limit, making a minimum payment and were pleased that Capitol One didn't complain?
 
2010-07-27 05:13:00 PM
Pick: I thought most checks were not valid after 90 days? I've tried to cash some with the disclaimer printed on the front and the bank refused to cash it.

Ive had people cash checks from me that were over a year old, on accounts that I closed, and were out of state. Banks will do anything if it means sticking you for more money, I blame the joos.

/sarcasm


But banks are a racket, its why I would go to a credit union if I could get decent rates.

A company I worked for also helped develop software for a CU that would flag a check permanently if the customer stopped payment or the bank suspected fraud, every check, not just their checks. It didnt cost much, the software was bought by someone then stopped distributing it, I always suspected it was a banker somewhere that bought it so they could keep their fees high.

/banks suck The Southern Dandy: Anyway, USAA seems like a pretty two bit operation, but their insurance is the cheapest I could find. I just won't bank there.

Great, cheap insurance and two bit? My GF got hit by a lady using USAA insurance so I guess shes screwed when it comes time to get her car fixed or her neck looked at since somehow she hit us hard enough to slide her pathfinder over, while we were sitting still, in a parking lot, and she was backing out of a space.

/dumb coont
 
2010-07-27 05:13:22 PM
video man: lwpengy: Talk about sneaky overdraft fees. M & T bank has taken it to a new level. Yes the usual debits first, then deposits, and the always the largest check or debit first but to insure that the money machine keeps rolling they do not notify you of an overdraft for 10 days. Yes 10 days by then all kinds of little debit card purchases can accumulate at $37 a pop. Stay away from M & T Bank. (Guess they need the extra money to pay back TARP and the millions in compensation to the bosses

You're farking kidding.


Not at all when I received the notice found out whole paycheck was gone and there was grocery shopping and a few other items not listed. Paid on Thurs, shopping on Thurs got the notice on a Saturday
 
2010-07-27 05:13:38 PM
Hender: Because I have USAA and I love them.

I have USAA also and wish to have their babies... or at least fornicate with USAA.

 
2010-07-27 05:13:42 PM
mrtoadswildride: video man: mrtoadswildride: video man: Is this the thread where I can act all smug about my credit union?

Yes, as long as I get to be smug about my bank having more than 6 ATMs...in the entire world.

Seriously....I would simply tell BoA this, "Is it worth losing a customer over $30?" If it is then thank you for your time I'll be closing my account as soon as I hang up the phone. If not, I suggest you find a way to make this permanent."

/I gave a similar speech to Circuit City when they screwed me on a rebate.
//Never shopped there again
///laughed when they went under

ATMs? You buy stuff without a credit/debit card?

Ummm you are aware that you can put money INTO ATMs...and then you don't have to deal with lines, deposit slips, or people?

And Yes, I like to carry around $20 in cash just in case.

/Although, I guess if you have never left your mother's basement you probably don't have to worry about needing/depositing money in different states???


See:

Kazan: mrtoadswildride: Yes, as long as I get to be smug about my bank having more than 6 ATMs...in the entire world.

that's what surcharge alliance networks are for.

example: Privileged Status


This. I can suck it up if I need to use an ATM that's not fee friendly to my CU. Doesn't happen too often. If ever.
 
2010-07-27 05:14:47 PM
shavethewhales: have not read all the comments, so forgive me if repeating, but an oral stop payment is only valid 6 months, a written stop payment is permanent. Of course BOA isn't going to tell you that. Just keep renewing your oral stop order at 30 dollars a pop forever, we promise it's the only way to be sure.

'In addition, a written stop payment order often expires after 6 months. It can be renewed for another 6 months.

If you issue a stop payment order orally and do not confirm it in writing, it lapses after 14 calendar days.'

From Here (new window)
 
2010-07-27 05:15:11 PM
It doesn't take a degree in economics, or a masters in astrophysics, or a phd in quantum mechanics to be able to see that the "banking" system is, and always has been, about screwing average people out of their money. All countries, all colors, all and everytime.

Under the pretense of keeping your money safe for you, or being willing to loan you some, or making you some pittance of interest, the entire concept was founded upon, and exists purely to part the peasants with their currency.

There's a reason why every major religion (however buried or hidden it is today) considers usury a crime. There's a reason why the one man that some people consider perfect went on his only one recorded violent streak, throwing the money changers out of the temple.
 
2010-07-27 05:15:22 PM
Lars The Canadian Viking: Personal cheques checks are only valid for 6 months, so it is still effectively $30.

FTFY

/seriously? who writes their checks with a q?
//commies that's who
 
2010-07-27 05:15:28 PM
FTFA - But there is apparently nothing in the Uniform Commercial Code that says that the bank has to extract $30 for a stop-payment order, and then suggest that it might be smart to chip in another $30 six months later. In fact, some of Bank of America's rivals have what might be called a once-is-enough policy in this area, calls to phone reps revealed. Chase charges $32 to stop payment on a check, but that sum will stop the sucker for good. You get the same deal at Citibank for $30. At Charles Schwab, a stop-payment order is free, and permanent.


Charter One has this, if anyone is interested.
 
2010-07-27 05:15:43 PM
Anyone get all slobbery ghey for USAA yet?

Oh, well, just add me to the party!


/ hell, yeah, they're just that good!
 
2010-07-27 05:16:06 PM
ZeroCorpse: This is among the many reasons why I don't use standard banks. I do all my banking through a prepaid credit card. I pay $5 maintenance fee each month if I don't make 30 purchases or load $1000 onto it. If I do one of those two things, I pay nothing for the card, nothing for direct deposit, and there are no overdraft fees or low-balance fees. I don't need to write checks, either.

You suckers can keep on paying $30 NSF fees and maintenance fees. Prepaid plastic is the way to go, now.


that's a DDA account - aka Checking w/ a Debit card.

just yours doesn't have checks

btw:
You now have to opt-in to NSF-auth-and-fee, the default BY LAW is now NSF-decline.

so no more "there is $9.58 in my account, i just charged $10.99 and got hit by $32 overdraft"

by law, unless you've given your bank permission to do that it's

Acquirer Auth Request (10.99) -> Financial Network -> Issuer CAS
CAS: DENIED
 
2010-07-27 05:16:57 PM
My bank is about to be replaced by Capitol One, should I be scared?
 
2010-07-27 05:17:03 PM
I've met a lot of thieves and bad men in my time, but the worse crooks I ever came across were banks. Before I left America I probably took 10 years off my life expectancy dealing with their shenanigans. Fees, fines, and f*ck-ups on their part that still ended up costing me money. I watched them hold checks to ensure I'd be hit with overdrafts, lie to me about having done what I'd ask them to do and then level a new fee at me, and be general assholes in pretty much every way imaginable. Before I moved, I closed my bank account and lived off cash. That was difficult enough nearly 10 years ago, it'd probably be impossible now.

Also, people still use checks? That is bizarre. I can only assume the reason those things are still around is because they allow people to overdraft. And the bank gets to collect more fees.

Cocksuckers.
 
2010-07-27 05:18:28 PM
EvilEgg: Stop payment for six month, switch banks. And you're done.

This, end of thread
 
2010-07-27 05:18:43 PM
Monthly bank fees = none
Cancelling a cheque = free
Withdrawing from ATM = free
VISA with my bank monthly/yearly/fees of any kind = none

Candadian banks. They're awesome.
 
2010-07-27 05:18:44 PM
MisterBill: TheReverendLei: CapitalOne farking rules. When I was unemployed for 3 months they were cool with me making the 15$ minimum payment each month which I borrowed from my GF. No hounding at my door or on my phone, despite that my card was all but maxed, sans the 15$ a month I was putting back into it.

So, you were under your limit, making a minimum payment and were pleased that Capitol One didn't complain?


$15 minimum payment? Card all-but-maxed out? Did you have a $500 credit limit?
 
2010-07-27 05:19:13 PM
Lars The Canadian Viking: Personal cheques are only valid for 6 months, so it is still effectively $30.

Except when the bank cashes checks older than six months, they can, and usually will, do it.
 
2010-07-27 05:19:16 PM
I canceled my Bank of America checking about 6 years ago, when they decided to hit me with a fee out of nowhere for a phone call to customer service that never occurred...and when I did have to call them to get said fee removed, they would tack on another indentical fee the next month, which I would have to call to have removed, ad infinium.

Then, 6 months after I had closed out the account in person, I find out that they spontaneously re-opened it so they could charge 6 months worth of fees for not maintaining a balance. One screaming rant at a bank manager later, I vowed to never use their checking or saving services for the rest of my life.

I'm with USAA now and have never been happier. fark BOA.
 
2010-07-27 05:19:21 PM
A Fark Handle:
/seriously? who writes their checks with a q?
//commies that's who



My Queen.
 
2010-07-27 05:20:06 PM
Bacontastesgood: BofA = Buttfarked on floor in Ass

Redundant much?
 
2010-07-27 05:20:24 PM
swahnhennessy: Also, people still use checks? That is bizarre. I can only assume the reason those things are still around is because they allow people to overdraft.

If there was an electronic means of paying my rent without additional fees, I'd do it. Sadly, there's a lot of inertia in the US banking sector.

I'd really like to see electronic push transactions being possible here. I don't trust pull transactions.

Also, checks can be written for arbitrary amounts, subject only to a brief verification hold if needed, while credit cards and whatnot can be declined, or have a daily limit.
 
2010-07-27 05:20:56 PM
My BOFA story.

I had deposited one check every month (check from the same location) into my local boa branch for about 2 years. Every time I deposited it, it went into my account the next business day. So, one time I deposit my check, a couple days later I pay some bills. About a week after that I go to the branch to withdraw some money, then find out i'm about $250 short of what I should have. Turns out they decided not to deposit the money into my account till about 7 business days later. $250 worth of over draft charges that they won't reverse, I close said account, move over to wells fargo (who have been awesome to me for the last five years).

/those dicks
//cool story bro!
 
2010-07-27 05:21:46 PM
MisterBill: TheReverendLei: CapitalOne farking rules. When I was unemployed for 3 months they were cool with me making the 15$ minimum payment each month which I borrowed from my GF. No hounding at my door or on my phone, despite that my card was all but maxed, sans the 15$ a month I was putting back into it.

So, you were under your limit, making a minimum payment and were pleased that Capitol One didn't complain?


I had a Chase card a while back and they would call me when my card sat above a 70% balance for more than 3-4 months. As I said a while back FRAUD report on my CheckSystems report had tarnished my standing with any financial institution. Even the credit union I was with and had a credit card under (at the same time I had the WaMu account that got closed) started asking a lot of questions.

tl;dr BoA and CapitalOne seem to give little shiat to my past credit history, as long as I stay in good standing with them. Which is a lot more than I can say for almost any other bank/credit card.
 
2010-07-27 05:23:03 PM
Lars The Canadian Viking: My Queen.

What Lars' Queen may look like...

i113.photobucket.com
 
2010-07-27 05:23:06 PM
wage0048: MisterBill:
$15 minimum payment? Card all-but-maxed out? Did you have a $500 credit limit?


Started as a 300$ student saver card a few years ago, I've had 4 extentions applied since then and it's at 2k now. For some reason the minimum payment has never gone up.
 
2010-07-27 05:23:06 PM
heypete: If there was an electronic means of paying my rent without additional fees, I'd do it. Sadly, there's a lot of inertia in the US banking sector.

I'd really like to see electronic push transactions being possible here. I don't trust pull transactions.

Also, checks can be written for arbitrary amounts, subject only to a brief verification hold if needed, while credit cards and whatnot can be declined, or have a daily limit.


I was starting to get a little homesick, but I think this thread made me love Sweden a bit more.
 
2010-07-27 05:24:28 PM
heypete: The Southern Dandy: Anyway, USAA seems like a pretty two bit operation, but their insurance is the cheapest I could find. I just won't bank there.

Weird. Your experience is completely opposite to any banking interaction I've had with USAA. I do all my banking with them and every time I've interacted with them, they've been exceedingly professional and helpful in all ways. I've never had any issue, except for an account being temporarily unavailable (a few hours) due to systems maintenance one evening. Not a big deal.

As for insurance, I've found I get cheaper rates with Progressive. USAA contracts with Progressive for motorcycle insurance, so they (hopefully) aren't that bad. I haven't had to file any claims yet, and hopefully won't ever. I always check back with USAA every six months to see if they'll beat Progressive's rates, but it's never quite low enough to make the switch back.
TheGhostofFarkPast: /has USAA credit card
//will probably never use it got better rates elsewhere

Really? My USAA MasterCard is about 8% and my USAA American Express is 10%. I rarely carry a balance, so it's not a big deal, but I'm surprised you can get better rates.


I've got %6.6 fixed on a Citibank Platinum card for the life of the card. Not sure if they're still offering that rate though.
 
2010-07-27 05:24:52 PM
www.liketelevision.com


APPROVES!!!!
 
2010-07-27 05:24:53 PM
I had written a short novel here, but since people don't want to read that, I'll just say fark Scotiabank. I had an account with them for about 10 years*, and at first they were great, but after 2-3 years I had nothing but problems. Finally, after ~$75 of BS fees in the last month I said enough and switched


*Actually it was technically much longer since when I tried to open the account with them they found a dormant account in my name that someone had started for me when I was a baby. Unfortunatly, whoever opened the accound never put any money in it for me.
 
Displayed 50 of 377 comments

First | « | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | » | Last | Show all



This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »






Report