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tularetom

(23,664 posts)

13. There are two ways of looking at this

Thu Mar 8, 2012, 05:12 PM

Mar 2012

If you had $1500 in a savings account you wouldn't get $7 per month interest on it. That's 5.6% interest, unheard of in these times.

And if every bank charged you $7 per month in checking account fees, and you had no other choice, it would make sense to keep the money in your checking account.

However this isn't the case. There are a lot of local banks that don't act like they're doing you a big favor by letting you give them your money to invest. And I don't know of any credit union that would pull this kind of bullshit.

Didn't B of A get their corporate weenie wacked for trying to institute some kind of fee like this awhile back? Is Wells Fargo dumber than them? That'd be hard to do.

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Wells Fargo to charge $7 fee on more checking accounts [View all] villager Mar 2012 OP

Back in 2008, these bastards should have been left for dead. Dawson Leery Mar 2012 #1

Actually, they were one of the only banks that were financially sound. nt Snake Alchemist Mar 2012 #10

They were in better shape than most others but I don't think we know the truth about how sound any harun Mar 2012 #15

True, but they actively tried to not take TARP funds. Snake Alchemist Mar 2012 #16

As long as the Big Financiers own the politicians, they won't be truedelphi Mar 2012 #64

Meanwhile, postal money orders will be more difficult to obtain no_hypocrisy Mar 2012 #2

I wonder why it's just those states n/t arcane1 Mar 2012 #3

pilot program FBaggins Mar 2012 #4

"Wells Fargo, Wanting To Rid Themselves Of More Pesky Bank Customers" Dont call me Shirley Mar 2012 #5

It'll be a cold day in hell when I give those criminals one red cent lastlib Mar 2012 #6

nobody will use banks that charge fees Rosa Luxemburg Mar 2012 #47

I do love my credit union. n/t SomeGuyInEagan Mar 2012 #7

+1 sarcasmo Mar 2012 #20

+1! So glad I got rid of WF!! n/t RufusTFirefly Mar 2012 #29

I see Wells Fargo loosing some accounts. Justice wanted Mar 2012 #8

I bank at Wells Fargo and am ready to switch INdemo Mar 2012 #27

So they are supposed to give away services? dbackjon Mar 2012 #9

you mean, like we give away tax dollars to them? Or in addition to our money being used villager Mar 2012 #12

Actually, WF tried to not take the money Snake Alchemist Mar 2012 #14

But in the end they got the money, didn't they? truedelphi Mar 2012 #36

THey never took anything. Snake Alchemist Mar 2012 #42

Get your fucking facts out of here joeglow3 Mar 2012 #45

Some resources for your education: truedelphi Mar 2012 #58

first troubling sign is the author does not Snake Alchemist Mar 2012 #60

Looking forward to seeing you rival Motley Fool as a source truedelphi Mar 2012 #63

Banks are banking off our money all the time Cal Carpenter Mar 2012 #17

LOLOL Skittles Mar 2012 #18

they're not giving away anything SemperEadem Mar 2012 #24

You do understand how banks are supposed to work, right? nt sudopod Mar 2012 #30

Please--you don't think they keep some of the interest they make on that money? MADem Mar 2012 #38

A $100 balance earns them $4 a year joeglow3 Mar 2012 #46

You take a few thousand accounts, and those numbers change. MADem Mar 2012 #50

Clearly, I support credit unions, but you are talking apples and oranges joeglow3 Mar 2012 #52

Who mails statements anymore? Most people bank online. MADem Mar 2012 #53

And that is why they cut the fee if you take online statements joeglow3 Mar 2012 #54

I didn't see those guys doing that--just taking two bucks off. nt MADem Mar 2012 #55

Do credit unions charge? Delphinus Mar 2012 #40

My credit union PAYS. MADem Mar 2012 #51

Actually, since the money in checking (and savings) accounts is loaned out, SharonAnn Mar 2012 #44

Yep you are nailing it. truedelphi Mar 2012 #59

to get depositors, yes TheFarseer Mar 2012 #61

The Big Banks' "sell by" date has passed........ marmar Mar 2012 #11

There are two ways of looking at this tularetom Mar 2012 #13

Credit Unions must love it when mega banks play the raise the fee game. sarcasmo Mar 2012 #19

Why anyone uses WF or BoA is beyond me trekbiker Mar 2012 #21

I have been with Bank of America RebelOne Mar 2012 #23

good for you SemperEadem Mar 2012 #25

Well, I guess I am one of the lucky ones. RebelOne Mar 2012 #26

I wouldn't put too much store in luck SemperEadem Mar 2012 #41

Well, as long as I keep plenty of money in my account, RebelOne Mar 2012 #65

This is a great article by Matt Tabbi on Bank of America. You might consider crunch60 Mar 2012 #33

This is the least note worthy and least nefarious of the practices that WF uses truedelphi Mar 2012 #22

Just curious. Do you know if the $75.00 that was put into virgogal Mar 2012 #28

I couldn't tell you that. truedelphi Mar 2012 #35

And a lot of banks will play with timing things like that in order to create those NSF fees Posteritatis Mar 2012 #39

So you profiled her and made a decision? nt Snake Alchemist Mar 2012 #43

Oh, for Pete's sake. truedelphi Mar 2012 #57

I've had this fee for 6 months now (connecticut) krispos42 Mar 2012 #31

Spam deleted by uppityperson (MIR Team) asfghjkyu Mar 2012 #32

harder and harder to find one that doesn't graham4anything Mar 2012 #34

not surprising since they don't want your deposit TheFarseer Mar 2012 #62

Talk about fucking over those who can least afford it. Bastards! MADem Mar 2012 #37

I love credit unions better Rosa Luxemburg Mar 2012 #48

Too Bad RobinA Mar 2012 #49

Jeez, I remember local banks, too. villager Mar 2012 #56

it's a tax on poor people since only the unemployed pay the fee pitohui Mar 2012 #66