I hope my bank goes under

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010101
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I hope my bank goes under

Postby 010101 » Tue Nov 25, 2008 2:38 am

I had dinner today with a friend that has an account at Wamu and he was telling me that since the takeover all fees on accounts have been completely suspended -- no overdraft fees, no late fees, no fees of any kind on any account. :)

This is a dream come true! I want the feds to take over my bank too now. I don't know how long it will last but either way that is paradise for them to not incur and credit card late fees or overdraft fees on your checking account if you do banking there.

We should all wish that our banks get taken over now because the government run banks will treat us fairly!!!!!!!!!!!!!!


magyar1045
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Postby magyar1045 » Tue Nov 25, 2008 8:53 am

Just a matter of time - WAMU is now Chase - who sooner or later will rob folks again. Now - it's only two months after the "marriage".

Multi-Purpose
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Postby Multi-Purpose » Tue Nov 25, 2008 12:19 pm

Hate to break the news but that's only temporary for during the transition. I don't think late fees are outright wrong because otherwise we would have many people overdrafting their checking and maxing out their credit cards. It works as an incentive not to.

That being said I do agree late fees should be fair. i.e. longer grace period and fair processing of payments when they are made (no more of that payments received after 12:00 noon are late kind of thing!) But other than that I wouldn't call late fees robbing someone.
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magyar1045
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Postby magyar1045 » Tue Nov 25, 2008 3:32 pm

Of course it's robbing. Some payment centers are so poorly staffed as to never process all the incoming bill payments every day.
They staff these centers so poorly - with that exact goal on mind - robbing folks of late payment fees.
We - who have computers - can pay online. But there are more people out there who don't. They are at the mercy of our unreliable mail service AND at the mercy of poorly staffed payment centers.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Nov 25, 2008 6:15 pm

It's hard to think that only a few years ago we were all left with the unreliability of making payments for all our bills. The good thing is that as time progresses we all will move to an online payment system used by 100% of us. Many don't have computers or know how to use them now but I believe in 20 to 30 years virtually every American will know how to use a computer like they know how to use a phone.

In the mean time we need to extend grace periods to 25 or 30 days for all bills and also enact guidelines that require payments to be processed within 24 hours or receiving.
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magyar1045
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Postby magyar1045 » Tue Nov 25, 2008 7:42 pm

Mogul of Pineapples wrote:It's hard to think that only a few years ago we were all left with the unreliability of making payments for all our bills. The good thing is that as time progresses we all will move to an online payment system used by 100% of us. Many don't have computers or know how to use them now but I believe in 20 to 30 years virtually every American will know how to use a computer like they know how to use a phone.

In the mean time we need to extend grace periods to 25 or 30 days for all bills and also enact guidelines that require payments to be processed within 24 hours or receiving.


And just who will "police" the guidelines?? Banks will fight any proposed changes like this. Fees like that are a major source of income for them. Poorly staffing payment centers also allows them to save on wages and benefits unless they hire a bunch of illegal aliens.

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Cucumber
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Postby Cucumber » Wed Nov 26, 2008 2:11 pm

Those terms should have been attached to he bailout money the banks got to limit late fees and interest rates for customers. :mad:
OBAMA
Stop talking crap about him!

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fffresh
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Postby fffresh » Wed Nov 26, 2008 6:42 pm

Ironic as it sounds you are completely correct: as long as you have less than $250,000 in deposits at the bank you will most likely benefit in the event of insolvency.

kiboko
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Postby kiboko » Tue Dec 02, 2008 9:49 pm

Then maybe we should hope GM goes under too because then the government would backup the cars after we buy them and not leave us with PIECES OF JUNK that don't hold up after 50,000 miles!!!!

JEFF COGA
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Postby JEFF COGA » Wed Dec 03, 2008 5:52 pm

kiboko wrote:Then maybe we should hope GM goes under too because then the government would backup the cars after we buy them and not leave us with PIECES OF JUNK that don't hold up after 50,000 miles!!!!


Maybe will have a nationalized bank. or maybe the bank of china lol
Jeff Coga
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