Kiss your free checking account goodbye.

[Correction]

well, no one is holding a gun to your head to keep money at a brand-name bank. they aint obligated to provide services for charity. harsh, but true.

I used to do business with two smaller banks. Then they got bought by huge brand-name banks. Somehow I don't think you're presenting a very realistic scenario for anybody who has ever had to take out a loan for a car, home or higher education.

[Ksandra]

Yeah, I guess not. It's also a burden for the poor, not the rich, so that's pretty disgusting.

I mean we have our "key-customer" programs here (more you have, less you pay) but at least the basics are free or everyone pays the same fee.

Lol, slightly offtopic but I was amazed when I found out there's no larger than a 100 dollar bill. I've found 500 euros to be quite damn useful. I don't get why you stopped at 100.

'case people barely use cash anymore as is. Definitely nowadays if you're buying something that is over $100, you're probably using your CC. Not always, but for the most part. And considering it costs them money to print money...


I remember at one point they wanted to get rid of the because it costs more to make than what it is. Never happened though.

[Ksandra]

(It's also a great way to get free points on a credit card at absolutely no cost to you, regardless of whether or not you do it the HAX way).

There was a thread on this earlier. They stopped accepting credit cards to buy the coins with. You have to send a check or money order now lol.

[Necronus]

There was a thread on this earlier. They stopped accepting credit cards to buy the coins with. You have to send a check or money order now lol.

I gotta go break the bad news for him. Though he won't care too much, he ordered the coins cause he likes them not cause he was scamming.

[solanis]

I used to do business with two smaller banks. Then they got bought by huge brand-name banks. Somehow I don't think you're presenting a very realistic scenario for anybody who has ever had to take out a loan for a car, home or higher education.

so, providing loans and other services through a moral compass/charity. it's a nice thought, but completely divorced from reality and human nature.

[Cantih]

So, how do you find a good credit union you can actually join?
All the ones I see have a very targeted entry requirement. (postal worker, etc.)

[Ksandra]

So, how do you find a good credit union you can actually join?
All the ones I see have a very targeted entry requirement. (postal worker, etc.)

I know SD has Mission Fed and San Diego CU (which obviously won't reach up to LA). I think there's one called Los Angeles Credit Union though right? Also Wescom.


Honestly, whatever have commercials up in your area are probably banks that aren't job specific. So you could start with them first.


It all comes down to fees. Unless you have more than $250,000 in the bank than it's not going to matter except fees. So I'd browse the internet a bit if I were you and find the cheapest + what fits your needs (ie ones near your home/work) and go with that.

[edit] also keep in mind some of those job specific ones still take others just you won't get discounts. ie. you don't have to be military to join navy federal. Though you won't be eligible for most of their discounts. They can still be cheaper than the big banks though, but do your research first.

[aurik]

so, providing loans and other services through a moral compass/charity. it's a nice thought, but completely divorced from reality and human nature.

Where this breaks down is when the big players buy out all of the local options and create an environment with artificial barriers to entry for new businesses. At some point it's more profitable for a corporation (or corporations) to stifle competition rather than outcompete it.

But in theory we have anti-monopoly / anti-oligopoly laws.

[Correction]

so, providing loans and other services through a moral compass/charity. it's a nice thought, but completely divorced from reality and human nature.

What? You argued people have a choice when it comes to doing business when banks change their fee structures in anti-consumer ways. I pointed out such choice works out to be an illusion in the long run when big banks only ever get bigger and more anticompetitive. Why are you changing the subject with 'WELL MAKING MONEY AIN'T ILLEGAL HURR.'

[solanis]

What? You argued people have a choice when it comes to doing business when banks change their fee structures in anti-consumer ways. I pointed out such choice works out to be an illusion in the long run when big banks only ever get bigger and more anticompetitive. Why are you changing the subject with 'WELL MAKING MONEY AIN'T ILLEGAL HURR.'

if you don't like your bank, go elsewhere or send your congressman a bitchy letter he'll never read about monopolies and economic moats in the banking system. honestly, I've been working in finance too long to give a shit about these complaints anymore, banks provide a service and you're under no obligation to buy it, just as they're under no obligation to provide it to you. if you want to keep your savings in a place corporations can't touch, put it in long-term treasury bonds. oh wait, the government is liable to fuck that up too. I guess you're just fucked, might as well end it all now

[*Shinzon*]

So I just saw that HSBC doesn't even offer free checking like someone had told me before. So that pretty much sucks for me and I have to find a new alternative and most the banks up in buffalo for the most part are regional and I really wanted to set up an account before I leave to make things easier on myself. Does anyone actually have an account with M&T bank and can share experiences? I read the post before where someone said they needed to live in the area to setup an account. The closest M&T branch and really the only branch is located on 5th ave in manhattan and I live in the bronx so I'm not sure if they'll even let me set up the account. I figured that I would call tomorrow if I could get some info about the kind of experiences people have with them. I could always wait but then I wouldn't have direct access to my money since I currently have an amalgamated checking account and there aren't any branches near the school.

[Correction]

i got mine, fuck yo complaints.

'k

[solanis]

'k

the day you start sucking my dick for free just because I want you to is the day I support forcing banks to offer charity accounts

[Correction]

the day you start sucking my dick for free just because I want you to is the day I support forcing banks to offer charity accounts

Because addressing a greedy cash grab by banks from their poorest customers is the same as asking them to run a charity.

[solanis]

Because addressing a greedy cash grab by banks from their poorest customers is the same as asking them to run a charity.

people with accounts that insignificant offer nothing to the banks. their deposits and balances are de minimis and nothing more than a rounding error for the loans and investments the bank makes, and what do they get in return? somebody using up space in their services. banks don't exist to hold your money for you in a place other than your mattress. forcing them to offer services to people who likely generate no revenue for them and probably in fact cost them money, is charity. I think adding these fees isn't good business to be honest and I wouldn't do it myself, but I will never support making them give shit out for free or the attitude that they have some sort of obligation to do so. I'm sure you find this shocking and appalling.

[Kuya]

people with accounts that insignificant offer nothing to the banks. their deposits and balances are de minimis and nothing more than a rounding error for the loans and investments the bank makes, and what do they get in return? somebody using up space in their services. banks don't exist to hold your money for you in a place other than your mattress. forcing them to offer services to people who likely generate no revenue for them and probably in fact cost them money, is charity. I think adding these fees isn't good business to be honest and I wouldn't do it myself, but I will never support making them give shit out for free or the attitude that they have some sort of obligation to do so. I'm sure you find this shocking and appalling.

I'm pretty sure most people here find what you say shocking and appalling. Well, more appalling than shocking.

[solanis]

I'm pretty sure most people here find what you say shocking and appalling. Well, more appalling than shocking.

when you stare into the abyss, etc

[Caiyuo]

This is why I love being with USAA. They had sent out a letter about this already and told us that free checking will continue, and even raising the amount of covering ATM fees by 10$... fuck yeah !

Same, when I got that letter from USAA I was all the more happy I opened that up in order to close my BoA account.

[aurik]

That said, if you hold $500 in a negative-real-interest savings account, allowing the bank to leverage up and invest at typical rate of return, you are more than paying for the services you will be using.

[Katlan]

BoA did this starting a while ago I noticed, but it was only because my old job didn't do direct deposit. They said that direct deposit would ensure I got no monthly fee. I hated my job anyways lol, so when I got a new one that did direct deposit those fees went away. And I always had more then 500$ in deposits a month and over a 1.5k balance.