Reasons Your Depository Never Wanted You To Read This

By Author: Chris McClelland
Total Articles: 4762
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1. The banks are actually in endurance mode, but they will in no way admit it.

I recently switched banks. Every single bank I walked into told me they were in satisfactory shape. Wow. In an market that caused a few people to commit suicide, every bank in Maryland was in first-rate shape? Astounding! I did a insignificant research and I found out that all but one were lying through their window bars. I started in the midst of Wachovia. The account administration official told me that Wachovia was in great shape and ahead of the game. (I researched that privilege and found out they had recently obtained a bank in the west coast that came with millions of dollars worth of sub prime mortgages and were now in negotiations with Wells Fargo before collapsing.)

I walked into First Mariner Bank, local to Maryland, and found one banker who was bored stiff out of her mind playing pin-the-tail-on-my-text-messages, so I walked right back out. When I walked into Provident Bank, also local here, there were boxes on desks and I was told they were bought by M-T Bank, also a local bank and sponsor of the Baltimore Ravens. The courtesy ...
... Ravens stadium cover they give you for opening a checking and savings account is folded up in my filing cabinet at home. I was so overwhelmed there I switched my company accounts over too.

2. This is just the beginning of inflated fees.

If you are anything like me, you have gotten additional notices than ever from your bank, frequently included in your statement envelope, regarding changes to your account. Those changes are fees, my friends. The charge you pay for an overdraft is likely at least $35. If you are part of the majority of bank clientele, you are flirting with $40. It is likely that your free account has been altered to basic, which secretly comes with fees. Your savings account fee for a low balance has changed from $3 to $5, or, like my most recent bank, from $11 to $15. (Now you see why I decided to leave.)

3. Interest rates alter continuously.

If you are anything like the majority of consumers, the interest rate on your savings account has gone downhill, and any adjustable rate loan you are paying has adjusted you into poverty. Whether or not you have done anything improper, you can have impeccible credit and one day get a notice that your APR has gone from, say, 12% to 27% and your only alternative is to cancel the card and pay it off at the old rate. (President Obama has begun to rally against unlawfully changing rates.)

4. If you are not a student, your bank does not bother.

School campuses are a gold mine for banks. Some students have the choice of getting student IDs that double as debit cards, courtesy of bank that is in truth hoping a few plastic spenders will have a few overdraft fees. Do you spend correctly? Was your most recent overdraft 22 years back when they called it bouncing a check? Your bank hates you. You make them a maximum of 3% of the money you put in your savings account and zilch on your checking account because they cannot spend it and have to leave it on hand to cover checks. You are not even worth the at no cost checks anymore.

5. In debit? The courts will not assist you.

Have you ever signed an settlement contract? I signed one a couple of years ago when I took out a little loan. What it does it indicate? Well, it means you cannot sue, for any basis. If they raise your rates, charge you early, or do anything, you have got to see their settlement mediator that is in their bag. Even identity theft victims find themselves question to arbitration agreements that make their situation three times worse than a stolen identity. You can get a lawyer, but you will be summary to comic relief that lightened his day.
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