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"Checking accounts should be free" ›› new reply Reply
Jess. @ November 5, 2010 2:27 PM
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I seriously almost just lost it on this self entitled brat that thought I was going to waive her fees because she knows my manager. I deal with this day in and day out. The fact that people think they should have a "free checking account with no stipulations" is absolutely stupid. The bank is providing goods and services, just like any other for-profit business.

When you go to the grocery store - do you expect to not pay for your groceries?
When you get your hair cut at a salon - do you expect not to be charged for that service?

No, you effing pay because someone else is providing a product and service for you. If you want free - hunt, kill and cook your own food, cut your own damn hair, and accept all payments in cash that you store under the mattress that you made.

F'ing idiots


Oh,


slutpunch @ November 5, 2010 2:28 PM
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truth
Dianana @ November 5, 2010 2:28 PM
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Mine has been free since I opened it. Student checking fo lyfe.
Andrea @ November 5, 2010 2:29 PM
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Serious question-- why do some banks have free checking and others don't? I thought most banks made profits off of fees attached to other services that the bank provides in addition to checking accounts, like overdraft fees and whatnot.
cuntdeath @ November 5, 2010 2:30 PM
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Originally posted by: Dianana

Mine has been free since I opened it. Student checking fo lyfe.



SAME.
Jess. @ November 5, 2010 2:32 PM
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Originally posted by: Dianana

Mine has been free since I opened it. Student checking fo lyfe.



The concept of free student checking was based on the hypothesis that most students will overdraw their account at least once, incurring a $30-35 fee, making it worth it. With Regulation E now in place (a law that changed overdraft abilities), this is no longer the case, so student checking has all but been done away with in most banks (the smaller ones just look to see what the big fish do first). However, there are still options to get a "free" account, like maintaining a minimum balance, direct deposit of a pay check, or the new "eBanking" that is all the rage, but still people aren't satisfied.

Screw them. Your $500 worth of business isn't even worth my time.
Jess. @ November 5, 2010 2:34 PM
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Originally posted by: Andrea

Serious question-- why do some banks have free checking and others don't? I thought most banks made profits off of fees attached to other services that the bank provides in addition to checking accounts, like overdraft fees and whatnot.



I already pretty much answered this, but there is always some sort of stipulation. Being a student for example, or PNC's Virtual Wallet (ebanking) which limits the amount of checks you can write.

There is no completely free checking without stipulations. The only places that may have this are small credit unions and community banks, simply because they need the business and because their locations are so scarce that you pay them back in all of the ATM fees you incur.
sherman @ November 5, 2010 2:35 PM
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This thread is now the equivalent of a brian./cbrickhouse computer thread.
joe vena @ November 5, 2010 2:35 PM
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Bashar al-Asad @ November 5, 2010 2:51 PM
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my checking account from BoA was free, and both my checking and savings have no monthly fees


ive also opted out of their overdraft protection bullshit. if there's no money there the card gets declined, end of story

fucking predatory banks and their bullshit schemes to shakedown the public. fuck you
asking_for_it @ November 5, 2010 2:55 PM
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Originally posted by: cuntdeath

Originally posted by: Dianana

Mine has been free since I opened it. Student checking fo lyfe.



SAME.

Jess. @ November 5, 2010 2:59 PM
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Originally posted by: Wesley Gibson


ive also opted out of their overdraft protection bullshit. if there's no money there the card gets declined, end of story

fucking predatory banks and their bullshit schemes to shakedown the public. fuck you



Yes and no. If you have a recurring debit transaction (gym membership, for example) that will still go through and you will get and over draft fee. If you get gas, they only authorize your card for $1 because they don't know how much it will cost you to fill up. Three days later when the actual amount posts - if you don't have enough money in your account, hello overdraft.

People clearly aren't educated enough on this stuff, which makes me pull my hair out daily.
Andrea @ November 5, 2010 3:10 PM
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That's why I love credit unions.
http://articles.moneycentral.msn.com/Banking/BetterBanking/DitchYourBankForACreditUnion.aspx
Dan. @ November 5, 2010 3:12 PM
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fuckin banks, how do they work?
brian, @ November 5, 2010 3:17 PM
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fuck banks. i have never been offered a 'savings only' account at any bank i have ever opened an account with. they always push their checking accounts, and then whine when they get bitchslapped for predatory practices and abuse of overdraft protection to the tune of $2 billion dollars a year.

"give us your money so we can invest it in penny stocks and futures overnight and make billions, but we're gonna call debit transactions 'checks' and charge you for each one, and then charge you $35 dollars for a two dollar overdraft for that cup of coffee you bought this morning."
Jess. @ November 5, 2010 3:23 PM
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Actually, you don't get charged an overdraft fee unless you overdraft by $10 or more, but either way, if you could manage your money properly, you wouldn't incur an overdraft fee. The bank doesn't force you to spend money you don't have.
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