Banks: One Of The Biggest Rip-OFF Con Jobs Ever

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JD Spydo
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Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby JD Spydo » Sun May 26, 2019 5:47 am

When I was younger even at the tender age of 7 I had about 5 yards I mowed in my neighborhood that I grew up in. I was making more money than anyone my age at the time. My dad even taught me how to work on and maintain lawnmowers at a young age. It was at that time my parents instilled in me the overall importance of saving money and thus starting a bank account. I lived by that rule of thumb even into most of my adult life until about 6 years ago I got so mad at a bank I was dealing with that I just quit doing business with any of them.

I did go to a credit union for a while which was a slight improvement. But the bank I was dealing with up till about 6 years ago was stacking fees upon fees upon fees. It seemed as though it was never going to stop. Then one day I needed a Cashier's Check and one Money Order to pay a couple of medical bills I owed. They wanted close to $22 for those two pieces of commercial paper and I had an account with this bank for close to 20 years. I immediately liquidated my account and left very angry and since then I've been getting all my money orders at my local Post Office which charge me less that $2 for each Money Order.

My point is that I've determined that banks are no longer a good institution to deal with any longer. To add insult to injury I just did a job for a friend recently and he had to leave town the day I finished so I accepted a check from him for just slightly less than $300. That bank had the audacity to charge me $8 just to cash that check. No I didn't have an account with that particular bank>> but I did call it to my friend's attention when he got back and he was just as livid as I was. It's to the point to where dealing with a bank is similar to going to a Casino>> the house is always going to win>> or even go as far as to cut your throat financially. The business plan for banks has changed dramatically>> the banks are going to rip you off any which way they can. And the interest you draw on an account now a days is truly a laughable joke :rolleyes: I've concluded that Banks have truly become an evil in our society and I will find any way I can to keep from doing any business with any of them. I would like to know all of your thoughts on Banks here in the USA>> or even banks in the country you might be living in,. They aren't the local business out to be a help to community anymore. They truly operate similar to a Casino in my opinion. They have changed for the worst and have become predatory IMO.

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby awa54 » Sun May 26, 2019 9:07 am

Not that I think $8 is a fair fee for cashing a check (or that charging to cash a check drawn on that bank is acceptable), but with interest earnings so low these days, banks have to find other ways to generate income so they can keep their doors open...

Good luck with your quest to forgo bank patronage in our increasingly cashless economy, in that sense financial institutions have us all as a captive customer base. :(
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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby Evil D » Sun May 26, 2019 9:44 am

Nothing like paying a company to hold my money. I guess it's better than carrying around a bunch of cash and potentially getting robbed. Instead we allow the company to rob us on a smaller scale repeatedly.
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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby ChrisinHove » Sun May 26, 2019 10:00 am

There are banks out there that proclaim the highest ethical values. They may be worth exploring.

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby rangefinder » Sun May 26, 2019 10:09 am

Banks are like any other business, you need to shop around. There are still many small community banks and credit unions that are cheap to work with and welcome people with small balances. In most cases, a member-owned (co-op style) credit union is probably going to be your best option. These are (or were) typically associated with some large company or industry.

For example, in the Seattle area there is BECU. That originally stood for "Boeing Employee Credit Union" but it no longer requires employment with Boeing to join the CU. And I know people in AK that belong to "Spirit of Alaska Federal Credit Union" -- which used to be called "Northern Schools Federal Credit Union" but changed their name because they no longer restrict membership to school employees.

These are the kinds of credit unions you want to look for. They are typically very small -- some times only one branch. But many CUs have a sharing arrangement where you can use the ATMs of other CUs (and some times other bank's ATMs) without charges. If you know people who work for the government (roads department, school district, etc.) ask what CU they use. There's a fair chance that even if that CU was originally set up to serve a specific group of employees, it may now accept anyone as a member.

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby JD Spydo » Sun May 26, 2019 1:03 pm

rangefinder wrote:
Sun May 26, 2019 10:09 am
Banks are like any other business, you need to shop around. There are still many small community banks and credit unions that are cheap to work with and welcome people with small balances. In most cases, a member-owned (co-op style) credit union is probably going to be your best option. These are (or were) typically associated with some large company or industry.

For example, in the Seattle area there is BECU. That originally stood for "Boeing Employee Credit Union" but it no longer requires employment with Boeing to join the CU. And I know people in AK that belong to "Spirit of Alaska Federal Credit Union" -- which used to be called "Northern Schools Federal Credit Union" but changed their name because they no longer restrict membership to school employees.

These are the kinds of credit unions you want to look for. They are typically very small -- some times only one branch. But many CUs have a sharing arrangement where you can use the ATMs of other CUs (and some times other bank's ATMs) without charges. If you know people who work for the government (roads department, school district, etc.) ask what CU they use. There's a fair chance that even if that CU was originally set up to serve a specific group of employees, it may now accept anyone as a member.
Well Brother I do think you're on to something with the increased popularity of Credit Unions. And I am going to take a harder look at the 3 most popular ones we have here in the Kansas City Metro area. I had a friend that used to work for Boeing that did belong to that one you mentioned and I remember he said he was very satisfied with them.

I guess the reason I'm so disgusted with banks in general is that I had my business account when I still had my tree business with a big local bank known as "US BANK" and I was with them for 20 years plus. At one time the staff that was there were really cool. But they fired all the people that were actual human beings and replaced them with bureaucratic A-holes. And when that changed about 4 years ago they progressively kept looking for ways to screw the little guy. Or even better than average customers too for that matter. My reward for my loyalty was truly nothing more than raw hostility laced with "how can we screw over this guy every time he walks through the door". Truly they changed that much for the worse.

But I've had checks paid to me for odd jobs written on a variety of banks in this area and all of the banks I've dealt with charge anywhere from $4 to $8 just to cash a check written on their bank>> not to mention they tend to want 3 to 4 pieces of ID on top of everything else :mad: . And that day they wanted close to $22 for a Cashier's Check and a Money Order when the Post Office charges less that $2 for any Money Order up to $1000. In the past year I've been getting by with a Debit Card that I put cash into and using Post Office Money Orders to pay my bills with. So far I haven't had any complaints from anyone. My landlord even likes the PO Money Orders better than checks she tells me. I will check into some of the smaller banks in the area. But from what I've been told by several of my friends and family members is that every bank they deal with tries to rip them off somehow. It didn't used to be that way but it's even getting worse around here in this area.

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby Daveho » Sun May 26, 2019 2:33 pm

All I can say is shop around, I make money off my bank personally and for things like online trading the bank platforms tend to be some of best in my experience.

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby JD Spydo » Sun May 26, 2019 2:39 pm

Daveho wrote:
Sun May 26, 2019 2:33 pm
All I can say is shop around, I make money off my bank personally and for things like online trading the bank platforms tend to be some of best in my experience.
Well "Daveho" I'm so glad it's better where you live. I can't tell you how many friends and people I know that just say nothing but curse words about the Banks they deal with. My hatred of Banks didn't come about until about 4 to 5 years ago. It seems like the overall attitudes of all the banking institutions I've dealt with are equivalent to going to a local city hall or police department or any of the tax collecting agencies. The outright rudeness and arrogance of these aforementioned institutions has become completely dismal in my opinion and the banks are just as arrogant and hateful as any of these other places of government business. And it didn't use to be that way. Most banks used to hire pleasant and polite people>> but now every time I go into one of those places it's as though they deliberately try to start a verbal fight with you. And it's not just one banking branch either it's just about all of them I've been to in the past 3 years or so.

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby Daveho » Sun May 26, 2019 2:46 pm

Rest assured if I didn’t check the status quo regularly I’m sure I’d be in the same boat.
My savings for example are held at a bank which has one branch in my entire state abut their online arrangement is second to none.
My transaction and trading accounts are not held at the same institution as they couldn’t compete with one of the big banks so while it’s easy to write it off as an area thing, I’m sure there is some factor of that too, I mean look at Australia v USA during the GFC but I shop around for a better deal. things like loyalty don’t get you anywhere with these institutions and assuming they do just has you building up this idea of a relationship that doesn’t really exist.

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby Spydergirl88 » Sun May 26, 2019 6:03 pm

Loyalty gets you nothing. Every bank, insurance company, internet provider, cell service provider, cable tv company etc gives discounts to new customers and nothing to their loyal customers. It pays to shop around and switch providers often to take advantage of the new customer discounts
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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby JD Spydo » Sun May 26, 2019 9:27 pm

Spydergirl88 wrote:
Sun May 26, 2019 6:03 pm
Loyalty gets you nothing. Every bank, insurance company, internet provider, cell service provider, cable tv company etc gives discounts to new customers and nothing to their loyal customers. It pays to shop around and switch providers often to take advantage of the new customer discounts
Beautiful!!! that's the best summation of "corporate America" I've heard in years. Hearing the truth truly has a special beauty about it ;)

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby The Mastiff » Sun May 26, 2019 9:35 pm

Joe, I have had less than good service from banks here and there. I went to a credit union for state employees and have stayed since. They are more set up for people in my pay scale. :) That does make a difference. If you had lots of money I'm sure you would see great service in those banks you dislike. I have seen that in how they dealt with family members who were well off as opposed to my state employee paycheck to paycheck stuff. I agree, don't stay if they don't treat you with respect.

Joe

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby JD Spydo » Mon May 27, 2019 10:06 am

The Mastiff wrote:
Sun May 26, 2019 9:35 pm
Joe, I have had less than good service from banks here and there. I went to a credit union for state employees and have stayed since. They are more set up for people in my pay scale. :) That does make a difference. If you had lots of money I'm sure you would see great service in those banks you dislike. I have seen that in how they dealt with family members who were well off as opposed to my state employee paycheck to paycheck stuff. I agree, don't stay if they don't treat you with respect.
I understand what you're saying but "Spydergirl88" hit the nail directly dead center with everything she said in her post. Because that is exactly how all the bigger banks are in our entire region seem to treat everyone and I've talked to several friends, family members, people at church and people I do business with ( including some folks who are very wealthy by the way) and in the past 3 to 4 years the consensus I'm getting is that all of them have become predatory opportunists for the most part.

Like I said in my first opening post up until about 4 years ago the staff at my bank including a lady branch manager who I knew for years all got canned and removed and replaced with some literal human depravity that look like normal human beings but they are anything but that. Believe me Joe I always value your input here on the forum and I tend to agree with about 95% of everything you post but this is one I wish you could see first hand. And yes I have an old customer who still is a great friend of mine and who helped me when my chips were down about a few years back and he's worth conservatively about $40 Million plus>> and that's just from the Real estate holdings that I know he owns free and clear>> and he told me that he quit doing business with them and put most of his loose change in a money market account through his brokerage because of their nazi type attitude. No the days of your neighborhood bank being there to serve the community are long gone IMO >> at least in this area anyway. It's not just banks either>> I've even been getting treated like a t*@d at some of the local eateries and other mom & pop businesses in the past few years as well. So welcome to the New World Order as Brother Alex Jones always says.>> laugh at him all you want but it turns out he's more right than he is wrong :(

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby TomAiello » Mon May 27, 2019 10:10 am

The banking system in the USA is basically a giant scam being perpetrated on the people of the country.

Anyone who hasn't seen it should read this book: https://www.amazon.com/Creature-Jekyll- ... 091298645X

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby James Y » Mon May 27, 2019 10:24 am

I have the majority of my money in a credit union, and other stuff in two other different banks. In one of those banks it's only just above the minimum amount required to keep a free safety deposit box there.

Jim

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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby soc_monki » Mon May 27, 2019 10:48 am

I have no fees at my bank. I suppose I'm lucky! I've never gotten a money order there, but I know we've had to get cashiers checks before and I don't remember any fees, or at least not much of one. Cashing a check is free as well I believe.

My cell provider is great too, but they're a local Mississippi company, so they're a little bit different. I refuse to use att, I hate them with a passion. Verizon is too expensive. Not much else here.

But I know some banks are rip off artists. I hear horror stories all the time, but I've had great luck.

Now realtors... I don't even want to get started on that!
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Re: Banks: One Of The Biggest Rip-OFF Con Jobs Ever

Postby JD Spydo » Mon May 27, 2019 11:21 am

soc_monki wrote:
Mon May 27, 2019 10:48 am
I have no fees at my bank. I suppose I'm lucky! I've never gotten a money order there, but I know we've had to get cashiers checks before and I don't remember any fees, or at least not much of one. Cashing a check is free as well I believe.

My cell provider is great too, but they're a local Mississippi company, so they're a little bit different. I refuse to use att, I hate them with a passion. Verizon is too expensive. Not much else here.

But I know some banks are rip off artists. I hear horror stories all the time, but I've had great luck.

Now realtors... I don't even want to get started on that!
About all of my late mother's side of the family live in the State of Mississippi and I will admit that it is a completely different world down there. Oh I like the people down there for the most part and the hospitality down there is a lot like it was most places as it was in the 1950s. But it's one of the few places in the USA that is like that. I would move down there but everytime I've been there in the summer it is like being in a pressure cooker down there from mid May till about mid October. Most of my family all live around Laurel, Hattiesburg and Bay Spring. Yeah Mississippi is far different than most of the USA is.

When it comes to commissioned sales people "Realtors" are not the only sharks in that tank :rolleyes: You could include anyone who is commission driven anymore. Here in Missouri they can lie like a politician all they want>> they only have to be responsible for what is in writing. So yes I know exactly what you mean speaking of commissioned sales people. They are in a special cult for sure. There used to be some relatively honest people in commissioned sales but they are going by way of the dinosaurs unfortunately.


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