Would you pay the bank for the privledge of depositing your money?

[surge]

I read an article over the weekend (http://www.infowars.com/economist-u-s-banks-preparing-to-charge-customers-for-deposits/) that talked about the possibility of American banks charging customers a deposit fee. Personally, I think we are already fee'd to death by the banks... they, in effect, borrow our money and loan it out to other people, making a tidy profit for themselves in the process. That should be fee enough!

So, are you willing to have the banks reach into you pockets yet again for the privilege of depositing your money into their institution, or will you say "hell no!", to the point of closing your account?

I think the banks know that most people will pay the fee. There might be a lot of complaining about it, but in the end they feel people will pay. So many of us have direct deposit set up for our salaries, and we either auto-draft bills or pay them online. Without a checking account, online bill pay and auto-draft are not an option. Most of us, I think, will sacrifice a fee in exchange for the convenience.

 

[Lazarus]

Like most people my age, I am forced into banking. My SS check doesn't come as a check anymore, but as an electronic transaction to my bank account. The things I sell online use paypal and I have a debit card with them. It is almost impossible to get any sort of check cashed without a personal bank account. So they have me by the gonads, and can't say hell no. I wish I could.

Years ago when I was in college, I eventually got a degree in banking and finance, after being a semester away from a degree in Anthropology(my real interest). In one of the banking classes, our Prof told us we would have to work in banking 20 years before we could afford the suites we would have to wear from day one. This was before the gov't started deregulating banking, which was done during the great depression so that banks would never again crash the American economy and cause people to suffer.

With deregs came a pocketful of new banker zillionaires, and still that isn't good enough. Now they want to gouge the little guy even more. And since most of us have to have a bank, in order to get paid, they got us, and can do what they wish. Either gov't or banking is gonna have their boots on our necks, and freedom is just not here anymore.

 

[Speedbird]

Could this just be a " switch and bait tactic " to ensure the large banks gain more depositors over the small town banks if this fee ever comes to fruition ?

 

[Debi]

Heck, Surge...I already have to pay $8 a month because I still need to use paper checks on occasion and don't keep my account at a balance over $2,000 a month. That's the current charge for not being paper free and keeping their minimum balance. I keep my savings account at another bank that currently doesn't charge me for them using my money. I should probably go ahead and transfer the checking account to them, but it's such a PIA to move auto deposits of Social Security and the auto pays I have set up. I agree with you and Laz...we're kinda stuck with using them and they know it!

Ahhhhhh, I remember the good old days when they gave you a toaster just for banking with them or when they offered you $25 to start a savings account with them.

 

[Naked Apple]

I am so sick of being nickel and dimed by banks. I am at the point where I am just going to start checking out other options like credit unions. I hear some of them are open to the public.

 

[Debi]

I am so sick of being nickel and dimed by banks. I am at the point where I am just going to start checking out other options like credit unions. I hear some of them are open to the public.

Most teacher's unions will let you join. That's where we have the savings for no charge.

 

[surge]

Ahhhhhh, I remember the good old days when they gave you a toaster just for banking with them or when they offered you $25 to start a savings account with them.

That was back when you had local, community banks owned and operated by people in the community. If you had a problem, you talked to someone in person and whatever the issue was, it got fixed right then and there. Now, you sit through an automated menu waiting to talk to a person, and if you're lucky your problem is fixed in a few days.