New Fees & Higher deposits Req. Tougher rules at the bank

[coinmojo]

New Fees & Higher deposits Req. Tougher rules at the bank

Well I suppose it had to happen sooner or later. I don't like it but it is what it is.

I am one of those guys who has accounts at almost all the banks around town so I can answer that question "Do you have an account with us" with a yes.

So I open my statement that came in the mail last week and there is a NOTE:

Your account is being changed from Free checking to convenience checking. futher more there will be a $9.95 monthly fee if your account balance falls below $500 at any given time during the month or have at least $100 a month in direct deposits.

This account is with my dump bank, so I ponied up, but the req. prior to this lastest change (supposedly driven by the Federal reserve rules and regulations or someting like that) was to have at least 1 transaction with in a 60 day period deposit or withdrawal and that's it.

When I talked to the bank employee she said all the banks will be moving in this direction.

What am I going to do I have a dozen accounts and maintain less than $50 in most of them. Looks like my free reign on the banks is nearing an end.

Anyone else getting this?


Mojo

 

[timbobwey]

Re: Tougher rules at the bank

That's really rough man. How long have u been with these banks?? I haven't been crhing for real long, only like a year or so. I can tell my dump banks get tired of it, but nothing has happened yet. I hope nothing like that happens, I would find new banks.

 

[coinmojo]

Re: Tougher rules at the bank

Tim

It's not directed at me. This is across the board. New rules changed without Notice kind of.

Supposedly going to happen at all banks.

She went on to say these Credit cards with no annual fees will be disappearing as well not to mention higher rates and fees for inactivity or too much activity. I use 2 Credit cards and use them like Check books. I pay for everything and pay it off at the end of the month to avoid interest charges. She suggested that they are trying to find ways to get fees out of us some how.

Mojo

 

[fistfulladirt]

Re: Tougher rules at the bank

More fees....well, what do we expect from the Banksters?

 

[Goes4ever]

Re: Tougher rules at the bank

I am shocked.....you mean banks actually are trying to make money?...lol
not much you can do I guess, close the accounts or pay the fees

 

[ivan salis]

Re: Tougher rules at the bank

shylock wants his pound of flesh.

 

[Rich Hartford]

Re: Tougher rules at the bank

I've encountered these fees. I believe that before the year is out all banks will have them and there will be hefty fees on ordering boxes of coins as well.
Rich

 

[Silver Stripe]

Re: Tougher rules at the bank

My dump bank is the same. Something about changes in Washington where when someone uses their debit card with insufficient funds the bank can no longer cover and charge the $35 fee, now the transactions will be denied. I done told the ladies "No more Mr. Niceguy", if I'm paying for the priveledge to dump I don't want no BS. Also I lost 2 banks a couple weeks ago to the $5/ fee, my stack of empties from last week is 10 boxes shorter. I whined to Jim about the fees and he told ME what 2 of his banks charge, 1 charges him $113 for 10 boxes and the other $65, guess $5/ ain't so bad. I still have them online, if another batch of good boxes comes around I'll pony up and pound them hard. Times are a changin, figure I'll play till I quit, summers comin- maybe I'll get back into minin for gold. HH Mark

 

[ronbo22]

Re: Tougher rules at the bank

Keep the $500 in there and take your dump in a cash back transaction rather than depositing it.

 

[GMan00001]

Re: Tougher rules at the bank

Personally, I haven't seen anything like it. Then again, I only have 3 accounts and all have guaranteed activity on a monthly basis.

 

[jrf30]

Re: Tougher rules at the bank

I try to keep at least $150,000 in each account so that they don't hassle me.

(Hey - I said "try". Not "succeed" LOLOLOL)

 

[coinmojo]

Re: Tougher rules at the bank

I try to keep at least $150,000 in each account so that they don't hassle me.

(Hey - I said "try". Not "succeed" LOLOLOL)

Thats the thing. No way I can keep that much cash on deposit...... Did you see the part about MAINTAIN.?

Mojo

 

[ArkieBassMan]

Re: New Fees & Higher deposits Req. Tougher rules at the bank

Mojo...nothing like that here yet here in Arkansas, but I suspect that very well may be the future. Still, the rules can be "manipulated" a bit. Yes, you will probably have to close some of your accounts. Keep the accounts at your "best" banks. Do a monthly $20 atm withdrawal or deposit just to keep your accounts active. Although you may now have to use some of your CRH "bankroll" to fund a bank account just to avoid banking fees. However, if you can take that $500 and find more than $9.95 per month in silver, then you still come out better in the long run to keep the money in the CRH bankroll and just pay the fee. Just my opinion...whatever little that's worth.

 

[Darth Walker]

Re: New Fees & Higher deposits Req. Tougher rules at the bank

I am a banker and I do not think I am a bankster.

I am a good guy

DW

 

[quiksilver]

Re: New Fees & Higher deposits Req. Tougher rules at the bank

BofA wants 750 , chase wants 300, TD wants 100 , trustco wants 250, etc . I just leave those amounts in and try to remember after i dump some halves and withdraw some cash.

 

[golden silver]

Re: New Fees & Higher deposits Req. Tougher rules at the bank

Mojo, I think that sucks my friend. But it has been said already we might need to scale it back to a couple pick-up and a couple-dump banks. I hear you on not being able to maintain the minimum balance. Makes things more difficult for sure. I wonder if they will do something to crack down on picking up halves from banks that you don't have an account at. That would completely kill my road trip finds. I guess in a way the government is confiscating the silver with fees and the like and weird rules that you can't keep track of. They will get you one way or another.

Golden Silver

 

[placerman]

Re: New Fees & Higher deposits Req. Tougher rules at the bank

I talked to one of the head tellers at BOA a few hours ago and he said BOA was going to make a "major announcement" concerning this on Thursday the 4th of March.

I asked him what it was about and he said he wasn't allowed to say but that "most customers" would like the new rules.

 

[fistfulladirt]

Re: New Fees & Higher deposits Req. Tougher rules at the bank

I am a banker and I do not think I am a bankster.

I am a good guy

DW

I know you are a good guy, DW, my comment wasn't directed towards you personally, sorry. Maybe you can persuade your peers to discontinue these excessive fees.

ffd