I think I may have learned a money lesson

[Jenson71]

I had $290 in my checking account. Then there's a monthly fee ($8.56). So I'm down to 281. I pay a university bill off that was $278. And then I don't put any money in. But another month comes and now I'm negative (because of the monthly fee)! I'm $5 in the hole, so as soon as I saw this, I transferred some money over to my checking account.

The next thing I see is I have a $305 overdraft fee charged to my credit card bill! Does this sound right?

That's quite an expensive (and stupid) mistake. :banghead: :banghead: :banghead:

[Phobia]

1. You shouldn't be paying a fee for checking.
2. You need to go spend a few minutes with a representative from the bank. Explain that you'll be switching banks immediately if you can't get on a better plan and have fees waived.

I don't think banks want to piss off young people who have an entire life of banking ahead of them.

[cdcox]

It is well worthwhile to research the overdraft policy of your bank before you have one.

If I have an over draft from checking, my bank automatically transfers money from my savings account to cover it, and only charges me a $1 service fee.

I'd change banks.

[Donger]

I had $290 in my checking account. Then there's a monthly fee ($8.56). So I'm down to 281. I pay a university bill off that was $278. And then I don't put any money in. But another month comes and now I'm negative (because of the monthly fee)! I'm $5 in the hole, so as soon as I saw this, I transferred some money over to my checking account.

The next thing I see is I have a $305 overdraft fee charged to my credit card bill! Does this sound right?

That's quite an expensive (and stupid) mistake. :banghead: :banghead: :banghead:

Well, first thing is never pay ANYTHING for a checking account.

[Iowanian]

What Phildo said.

It today's competative market, there is zero reason I can think of to justify paying any fee for a checking account.

[The Franchise]

Explain why you have a $305 overdraft fee for your credit card.....on your checking account? Is this a typo...and it is supposed to say checking account?

I'd recommend what Phil said. If you've never had this happen before....they might be more inclined to waive the overdraft fee. And then tell them you want to switch over to a checking account that doesn't charge you fees.

What bank is this?

[convict1983]

You got played son. WTF are paying for a checking account. I would just take all the cash out.

[Brock]

Fire your bank.

[Iowanian]

today.

[Lzen]

And then burn it to the ground!!!! :cuss:












Oh.......sry........I got carried away.

[Bwana]

Yep, make them remove the fee, tell them to kiss your azz and switch to a bank with to checking fees.

[crazycoffey]

concur, state your case, it doesn't cost anything to do anyway, maybe you get some money back, maybe you learn a valuable lesson, the word for the day is "research"

[sedated]

$9 a month? holy f*ck

[Hog's Gone Fishin]

May I suggest walking into your bank wearing a suicide belt and blowing their shit away. You'll be killing two birds with one stone that way.

[The Franchise]

This isn't Compass bank is it?

[Mr. Plow]

The next thing I see is I have a $305 overdraft fee charged to my credit card bill! Does this sound right?

$305 overdraft charge? Are you saying they deducted the original amount plus added the overdraft fee or are you saying the deducted the original amount and then deduct a $305 overdraft fee?

If you paid $305 for an overdraft, you may consider blowing the bank up. Or at least use some antifreeze.

[Ultra Peanut]

http://img128.imageshack.us/img128/6779/mbpounce2mv9fw3.gif (http://imageshack.us)

[CoMoChief]

WTF is there a fee for? Go to Commerce bank, they have free checking.

1. Do what Phobia said. Talk to a bank rep and try to talk to them to get the overdraft fees back.

2. Once that happens take all the money out of you bank and cancel the account and go to Commerce Bank and create a new account.

[Delano]

http://img128.imageshack.us/img128/6779/mbpounce2mv9fw3.gif (http://imageshack.us)

These WWE .gifs are adding a new dynamic to Chiefsplanet. Keep it up! :thumb:

[the Talking Can]

call the police, you got raped

[Bugeater]

Are you sure you don't have some kind of overdraft protection that uses your credit card as a backup? Check your checking account balance again, the $300 may have been deposited in there. If that's a service fee, that bank should be blown up.

[Coach]

Why is there a service charge in the first place, if for two reasons:

1. That your balance is over $100
2. Do you have direct deposit? If so, then the bank shouldn't charge you the monthly service, just becuase.

[PhillyChiefFan]

Commerce bank is good. Check E-Trade too. They just rolled out a savings account with a 5.05% interest rate and a checking account with 3.25%, no fees no minimums on the savings. The checking account you have to have direct deposit of 200 a month.

As for the bank, agree with CoMoChief, threaten to take your business elsewhere, odds are they will wipe off the at least some of the charges. They want to try to keep you as a customer. Hope that helps a little bit.

[Phobia]

Commerce is KC Metro only to my understanding. He can't switch to them. I use Bank America, FWIW.

[The Franchise]

So any updates?

[Phobia]

Jenson is usually online in the evenings. I'm sure he'll be happy to tell us more of his adventure.

[Jenson71]

Thank you for all the advice gentlemen. I'd be lost without your words of wisdom.

I did call my bank (Wells Fargo) and the representative said she would take me off the service fee charge, and even refund me for the previous two months charge. I thought this was very fair, and thanked her.



Are you sure you don't have some kind of overdraft protection that uses your credit card as a backup? Check your checking account balance again, the $300 may have been deposited in there. If that's a service fee, that bank should be blown up.

This is what it turned out to be. She said that I had (accidently) made the transfer from my checking to savings, instead of the other way around, which is what I wanted. So then my card kicked in to cover it.

Everything is understood and now I'm doing well and I didn't even have to use my suicide belt. Thank you all very much.

[The Franchise]

Wells Fargo....no freakin wonder.

[stlchiefs]

Commerce is KC Metro only to my understanding. He can't switch to them. I use Bank America, FWIW.

Commerce is regional. They are down in Wichita and here in St. Louis as well. They work well for me.

[|Zach|]

Commerce used to take sooo loooong to get my deposits in for some reason back in the day when I used them in KC and even when I used them in Springfield my freshman year. I have been very happy with Great Southern but since I am going back to KC I will need to plant my massive wealth with another institution.

[Phobia]

Commerce is regional. They are down in Wichita and here in St. Louis as well. They work well for me.

Yeah, I knew they were in the vicinity of KC - did not know they were in St. Louis though.

[Skip Towne]

Yeah, I knew they were in the vicinity of KC - did not know they were in St. Louis though.
Ever hear of Arvest Bank? I really like them. They are only in Ks, Ok., Ar. and Mo. so far but that will change. The banks are owned by those great folks who brought you Wal-Mart. They do a bang up job as you might expect.

[Sure-Oz]

Checking fee's wtf?

Switch banks anyway....

[CoMoChief]

Commerce used to take sooo loooong to get my deposits in for some reason back in the day when I used them in KC and even when I used them in Springfield my freshman year. I have been very happy with Great Southern but since I am going back to KC I will need to plant my massive wealth with another institution.


Thats weird. If deposit anything before 1pm I can use that money right away.

[Delano]

Wells Fargo....no freakin wonder.

If you get student loans through Wells Fargo and pay on-time with a Wells Fargo checking account, you can get a break on interest rates.

It's a pretty good deal for college students like Jensen and myself.

[Sure-Oz]

I like my credit union, they have it deposited right away etc...but only downfall is they are not nationwide and only a few locations, but it does the job since i live around the locations.