Jeff that’s how Banks are, they use your money to make money and think nothing about it, overdraw your account $1 and you get $30 worth stamped letters letting you know.
I was once socked $15 for a 16c overdraft for one day! Anyone care to calculate the APR on that? Have to be tens of thousands of percent! (Don’t deal with that bank anymore)
An elderly neighbor once related that he and his dad went to the Dakotas, homesteaded some land and later sold it. Arrived back in Keokuk, Ia with the proceeds late afternoon, called ahead to bank in Warsaw, Il to ask if they could stay open a little later (Fri. eve) as he didn’t like to be carrying a large amount of cash. They agreed. Made the deposit, and bank never opened Monday morning.
Even FDIC may not be of help if a bank fails. There was a news article about this person that had a mortgage and a savings account with the same bank. Bank failed, but he was still on the hook for the mortgage – but he couldn’t access his savings to make payements. Foreclosure.
William Reynolds almost 13 years ago
He’s right you can’t trust banks. My parents’ generation learned that in the Great Depression.
Foghorn Leghorn almost 13 years ago
Jeff that’s how Banks are, they use your money to make money and think nothing about it, overdraw your account $1 and you get $30 worth stamped letters letting you know.
Number Three almost 13 years ago
Whoooooo! You tell him, Jeff!
LOL xxx
tuslog64 almost 13 years ago
I was once socked $15 for a 16c overdraft for one day! Anyone care to calculate the APR on that? Have to be tens of thousands of percent! (Don’t deal with that bank anymore)
tuslog64 almost 13 years ago
An elderly neighbor once related that he and his dad went to the Dakotas, homesteaded some land and later sold it. Arrived back in Keokuk, Ia with the proceeds late afternoon, called ahead to bank in Warsaw, Il to ask if they could stay open a little later (Fri. eve) as he didn’t like to be carrying a large amount of cash. They agreed. Made the deposit, and bank never opened Monday morning.
tuslog64 almost 13 years ago
Even FDIC may not be of help if a bank fails. There was a news article about this person that had a mortgage and a savings account with the same bank. Bank failed, but he was still on the hook for the mortgage – but he couldn’t access his savings to make payements. Foreclosure.
Sherlock Watson almost 13 years ago
Groucho would be proud.