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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAnother spurious bank fee: $12 for depositing a check that bounces
road to corporate greed is paved with nickel-and-dime bank charges.
Want a paper statement? That'll cost you a few bucks. Not making enough deposits or withdrawals? That'll result in an inactivity fee of as much as $10. Don't meet minimum balance requirements? Here's your monthly $25 account maintenance fee.
But the returned-check fee might take the cake.
Brian Baltow of Thousand Oaks recently received a check from a client for $120. Unfortunately, the check bounced.
Baltow's bank, Bank of America, returned the check to the guy who wrote it. And it dinged Baltow with a $12 fee.
"They said it was my responsibility to check that the person writing the check had sufficient funds in his account," Baltow, 76, told me.
http://www.latimes.com/business/la-fi-lazarus-20150505-column.html
notadmblnd
(23,720 posts)Chase is the bank that got him.
KamaAina
(78,249 posts)he would bounce a paycheck every few months.
FSogol
(45,357 posts)PoliticAverse
(26,366 posts)marym625
(17,997 posts)That's $0.50 each time. Use the convenient bill pay and have the bank send the check. Won't cost a thing but they'll take the money immediately. You will never know when the party the check is mailed to receives and cashes it, or even if they cash it. And if they do cash it up to 10 days later, the bank will have had your money, along with god knows how many other suckers' money, earning interest for up to 10 days.
Hoyt
(54,770 posts)Some of the fees are definitely aggregating, but like the poster above said, use a credit union or low fee bank.
Binkie The Clown
(7,911 posts)Then you won't even be able to make a cash withdrawal. They are saying (via zero Hedge) it is to prevent people from making a run on the bank, thus making banks more stable. What it really means is they will have your money, and you can't get out. Ever. You can only spend it, at approved retailers, with a debit card.
It's back to barter, folks.
dixiegrrrrl
(60,010 posts)France:
French Finance Minister Michel Sapin brazenly stated that it was necessary to "fight against the use of cash and anonymity in the French economy."
He then announced extreme and despotic measures to further restrict the use of cash by French residents and to spy on and pry into their financial affairs.
These measures, which will be implemented in September 2015, include:
Prohibiting French residents from making cash payments of more than 1,000 euros, down from the current limit of 3,000 euros.
Given the parlous state of the stagnating French economy the limit for foreign tourists on currency payments will remain higher, at 10,000 euros down from the current limit of 15,000 euros.
The threshold below which a French resident is free to convert euros into other currencies without having to show an identity card will be slashed from the current level of 8,000 euros to 1,000 euros.
In addition any cash deposit or withdrawal of more than 10,000 euros during a single month will be reported to the French anti-fraud and money laundering agency Tracfin.
French authorities will also have to be notified of any freight transfers within the EU exceeding 10,000 euros, including checks, pre-paid cards, or gold.
nc4bo
(17,651 posts)You Too Big Too Fail criminals best pray to your money gods that he doesn't become POTUS.