Results 1 to 11 of 11
Thread: Bank question
LinkBack URL
About LinkBacks-
03-26-2010, 07:36 PM #1Rude and Vile Master
- Join Date
- May 2008
- Location
- Baltimore, Maryland
- Age
- 43
- Posts
- 8,243
- Post Thanks / WTG / Hug
- Rep Power
- 71
Bank question
Why do banks charge the depositor a fee when a deposited check bounces?
I had a potential tenant write me a $70 check for a tenant application (2 adults). I found no surprises. I knew ahead of time they had a shaky background. I agreed to lease the property anyway. They no showed me on the lease - can't figure out why - but since they did, I'm not surprised that their application check also bounced (new policy: applications in cash only).
What I don't get is why, when I'm already out $70 for the background checks I haven't been paid for, MY bank charges me $20 cause some ahole's check bounced...If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.
Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"
Greebo(Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!
ThreeTwo mortgages,twooneno car loans,oneno credit cards, and a partridge in pear tree!
-
03-26-2010, 07:50 PM #2Registered User
- Join Date
- Apr 2006
- Location
- Canada
- Posts
- 7,249
- Post Thanks / WTG / Hug
- Rep Power
- 41
I'd send an invoice back to them seeking repayment including all associated fees and hope they repay. I mean, you did trust them out of the kindness in your heart. Do not let people like that ruin your faith/trust in others.
2012: The Year Of The Purge!
UPDATED: MAY 15/12
2012 FLING - 673/2012 | COUPON SAVINGS $178.93
EMERGENCY FUND #2 - $510.78 | VACATION FUND - $513.58 | CHANGE JAR $222.51
-
03-26-2010, 07:53 PM #3Registered User
- Join Date
- Jul 2006
- Location
- Georgia
- Age
- 37
- Posts
- 3,436
- Post Thanks / WTG / Hug
- Blog Entries
- 3
- Rep Power
- 16
Because they can Greebo ~ because they can.
Don't Breed or Buy While Shelter Pets Die
married 16 yrs to my
mom to big J (15)
mom to little j (8)
Zena
Cherry Sara Knat 
Lucky Chianti Abby Alice Jasper 
-
03-26-2010, 08:06 PM #4Registered User
- Join Date
- Feb 2006
- Location
- Louisiana
- Posts
- 3,863
- Post Thanks / WTG / Hug
- Blog Entries
- 12
- Rep Power
- 25
That has always seemed egregiously unfair to me.
Donna
Use It Up 2012:
Lapghans: 5
Baby afghans: 1
-
03-26-2010, 08:31 PM #5Registered User
- Join Date
- Jan 2008
- Location
- Louisiana
- Posts
- 1,328
- Post Thanks / WTG / Hug
- Rep Power
- 10
When I was in school, I wrote a check to a friend for a textbook I was buying from here. I was like 19 and did not keep track, thus it bounced. My bank charged me a fee and her bank charged her a fee. Needless to say I paid her in cash for the book and the fee she was assessed. The used book ended us costing more than a new copy...lesson learned.
Working on Our Debt a Day at a Time:
Chase #1: Paid $1307.12 of $1925.04
Bank of America: Paid $1054 of $1600
Dillard's: Paid $953 of $1750
Medical (too much to list so I am going one at a time):
Amex #1: Paid $3975.50 of $3975.50 Paid in Full 3/09
Chase #2: Paid $4489.75 of $4489.75 Paid in Full 12/09
Macy's: Paid $337.24 of $337.24 Paid in Full 9/10
Lane Bryant: $300 of $300 Paid in Full 7/10
MRI Paid $1080 of $1080 Paid in Full 2/11
Amex #2: Paid $8286.17 of $8286.17 Paid in Full 7/11
Foot Surgery: Paid $1759 of $1759 Paid in Full 8/11
Furniture: Paid $2000 of $2000 Paid in Full 3/12
2012 Fling 319/2012
-
03-26-2010, 09:48 PM #6Registered User
- Join Date
- May 2008
- Location
- Las Vegas
- Posts
- 347
- Post Thanks / WTG / Hug
- Rep Power
- 7
My dd was paid for a babysitting job by check (it was a neighbor). I deposited the check into my acct and it bounced. I also had to pay fees. Needless to say this was a summertime babysitting job so she had the guts to tell them that they had to pay her in cash from then on. They didn't reimburse the fee but they did start paying her cash!
-
03-26-2010, 10:02 PM #7Technical Support Sleuth
- Join Date
- Feb 2006
- Location
- the land of corn and cows
- Age
- 27
- Posts
- 6,409
- Post Thanks / WTG / Hug
- Blog Entries
- 16
- Rep Power
- 39
There is some expense incurred on the bank's end. They run it through the Fed Reserve System twice and they also have to notify you via postage, etc.
Of course, the fee is inflated to 1. make income and 2. to cover all those 'free services'.
Generally speaking, online banking is free. Online bill pay is free. The first debit card on an account is free. Even though they are provided FREE to the customer, they still cost the banks money. So fees are inflated to cover it.McD
-wife to Z
-mommy to Dubya & Moo Cow
Blog: http://familystylemayhem.wordpress.com/
My Ravelry: http://www.ravelry.com/projects/nicd...view=thumbnail
-
03-27-2010, 03:27 AM #8Registered User
- Join Date
- Mar 2009
- Location
- Cold pacific northwest.
- Posts
- 11,722
- Post Thanks / WTG / Hug
- Rep Power
- 57
Originally Posted by bumplett
because they can greebo ~ because they can.
exactly!!!
-
03-27-2010, 03:31 AM #9Registered User
- Join Date
- Mar 2009
- Location
- Cold pacific northwest.
- Posts
- 11,722
- Post Thanks / WTG / Hug
- Rep Power
- 57
Originally Posted by Greebo
My banks have always done that.........but why didn't you take it to their bank to cash it? Or was that impossible due to the bank....
Some banks here are charging when you do that too.........if you are not a customer ---but are cashing one of THEIR checks--they charge a fee........WTH???
-
03-27-2010, 08:35 AM #10Registered User
- Join Date
- Dec 2009
- Location
- WNY
- Age
- 66
- Posts
- 653
- Post Thanks / WTG / Hug
- Rep Power
- 6
Turn it in to the police.
BEF fully funded
Debt Reduction -
Orchard - $0.00
Citi card - $9116 >>>0!!!<<<- closed
to ME!!!!
Advanta card - $6746 >>0<<- yes,yes, yes!!!
Repoed van - $150/month for eternity - OK, not quite - $10,997.44
mortgage - 63873
heloc - July '11 - $12,000 8,203
Frugal Village =
-
03-30-2010, 09:25 PM #11Registered User
- Join Date
- May 2009
- Location
- Florida
- Age
- 58
- Posts
- 5,309
- Post Thanks / WTG / Hug
- Rep Power
- 33
Exactly what I was going to say before I read bumplett's post...Also because, as you said...they're a$$holes. You sound surprised...I'm amazed. Originally Posted by bumplett
Because they can Greebo ~ because they can.
Because they can, and they do and they can get away with it...
Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.
Challenges
Coupon Challenge May
$00.00
Year / $
May/ Grocery
$/Goal $400 Total
Eat Out No More May
Goal 20
Accomp/17
No Spend Challenge
Goal 10/
Accomp/14
Reply With QuoteSimilar Threads
-
Bye-Bye Bank of America, Hello USAA Bank!
By lovestolaugh in forum General ChatReplies: 10Last Post: 12-19-2011, 07:59 PM -
Man Sues Bank For Excessive Bank Fees And Wins!
By staceyy in forum Leisure & Media ArtsReplies: 4Last Post: 05-03-2007, 07:37 AM -
Bank Question HELP please!
By leeleeaub in forum General ChatReplies: 9Last Post: 02-23-2006, 07:21 PM
Bookmarks