Bank suckage (Longish)

[king4aday]

when I was in college, I banked at a bank near the university because of convenience. I didnt have a car my freshmen year and the bank was within walking distance. The first thing the bank did was decide they were going to start charging teller fees. Anytime I decided I wanted to do business in the bank and I went to the teller they would charge me $2.50. They would refuse to do any business whatsoever (even if it was just as simple as exchanging a $20 bill for 4 $5 bills) without you telling them your account number...they would then charge the $2.50 to your account (we couldnt pay it in cash) and give you the change. If you didnt have money in your account to cover the charge they would simply tell you that they couldnt do business with you.

This was simple to remedy..I didnt do business with the tellers..I just used the ATM (which was free if you use their machines). The last straw was when I saw a charge on my bank statment I never did to a website I would never go to (it was very stereo sound equipment... $500 worth) this put my account into overdraft and they charged me $600 overdraft fees...so my account was now $1100 in overdraft. I asked them to invistigate (had to talk to a teller....giving them $2.50 added to my overdraft). They investigated and found that the charge was indeed fraudulent...and they removed the $500 charge..but told me I was still responsible for the $600 because I should maintain a balance to cover for such cases of fraudulent charges. I told them they could take it out of my account once I put money back into it.

I never deposited anything in that account and opened an account with the credit union down the street (I now had a car). I received a letter last month (3 years after this incident) saying that they are closing my account due to inactivity and if I had any cash in the account it became their assets.

[edible_hat]

We had a counterfeit scare at work.

We get paid in cash. My co-worker tried to buy something somewhere else but was told "this is counterfeit" because the bill was slightly different (didn't have David Uniapon and Edith Cowan's names on it, they're the people on Australian $50 bills by the way). So she brought it back to work, and we noticed that most of the bills we were getting don't have the names on them. Another co-worker started telling customers "I think that's fake" (only to be told "I just got it from your ATM!").

Eventually the owner took a bunch of the suspect bills to the bank, only to be told they're legit and it's just a minor design change. They change the design slightly every year to make it easier to spot the fakes (as in, all serial numbers beginning with XYZ won't have the names, so if you find one that does it's fake) and to give banknote collectors a way to identify which year the bills were made in.

[Seshat]

A counterfeit bill would not be replaced: Mutilated currency is swapped but counterfeit is not replaced. The Secret Service is given the bill and a report. The teller would be fired if they knowingly gave the bill back to you or swapped it for a good bill.

And this is why even good people will try to pass off bills that they get that seem counterfeit. Handing them in costs you money you can't afford to lose just because you got passed a maybe-counterfeit bill.

It sucks, and there has to be a better system. I just don't know what that system might be.

[Broomjockey]

It sucks, and there has to be a better system. I just don't know what that system might be.

I do, and deep down, you do too. I think we all do. Unfortunately, we also know that it's not likely to happen as long as some people act like scum.

[MiloMorai]

Speaking of counterfeits, I had to cash a check for $2000 recently and I surprised the teller by asking her to run the iodine pen over the bills to check for bad bills. There was recently a story about a man that got money from his bank and some bills were bad. He returned them and they took them but did not replace them even though they gave them in the first place....Mine were just fine. TYVM.

[csdrone]

Seshat and Broomjockey, I agree with both of you. Unfortunately the scum would use the bank's generosity to launder money (a federal felony).

[Becks]

The last straw was when I saw a charge on my bank statment I never did to a website I would never go to (it was very stereo sound equipment... $500 worth) this put my account into overdraft and they charged me $600 overdraft fees...so my account was now $1100 in overdraft. I asked them to invistigate (had to talk to a teller....giving them $2.50 added to my overdraft). They investigated and found that the charge was indeed fraudulent...and they removed the $500 charge..but told me I was still responsible for the $600 because I should maintain a balance to cover for such cases of fraudulent charges*.

I want to know the name of that bank so I never do business with them. That's just so very very very wrong.

Holy biscuit.




*emphasis mine, btw

[Stormraven]

The iodine pens aren't necessarily all that useful for detecting counterfeits, though. Just an FYI.

[chops]

I've heard of that too...I read somewhere (here?) that some counterfeiters have gone so far as to bleach out $5 bills and print $20s on the paper. Since the pen would detect the paper is the same, it would basically give a false negative. In those cases, the security thread would identify the bill when held up to light.

[fma_fanatic]

The OPs experience is a perfect example of why I stopped using banks and opted to go to a credit union.

Back before I moved halfway across the country, I opened an account with US Bank (no names are not going to be changed because they are way far from being innocent). I deposited money my grandfather had sent me to help with moving and to get me started as a single woman after my divorce.

About a year after I settled, I started having minor problems with the bank. They used my middle initial, which I fought for 6 months to change; I even went down in person, with my ID, birth certificate and other documents to prove who I was and they'd still give me crap over my middle inital.

I never ever use my middle initial except on important documents, such as our mortgage. I knew they were selling my info because I saw a surge in junk mail. All with my name, complete with the middle initial. I had informed them several times that I did not want to be included on any mailing lists, etc.

They'd hold my deposits, then I'd have to start bitching for them to take it off. They even tried telling me it was because I was a new customer. A new customer, who's been with you for what? Almost 3 years? yeah. They'd also give me crap whenever I went in to get charges removed - like the charge for using bill pay, but it was supposed to be free since I had direct deposit. Or the charge for requesting counter checks because the checks that I had ordered were taking too long.

The final straw was when I'd gone on a trip with my SO and lost my ATM card. Luckily we happened to be going past a Meijer that had a US Bank and I was able to get cash and ask them to send me a new card. They showed me to a phone to call customer service (uh..okay..I guess they don't bother with ATM cards at the branch?). Only customer service didn't bother to tell me that since I'd moved a couple of weeks before, I would have to report it in person to get a temporary card and have a new one sent to me. I didn't find this out until I called again a week later to let them know I didn't get my card.

I decided right then and there that I was done with their BS and went down the next day to close my accounts. The banker that helped me didn't understand what my problem was and to give them another chance. That just infuriated me more and I went off on her. Give them another chance? Not fucking bloody likely! I went on for about 5 minutes as loudly as I could (yes I went SC, but damn it, no one screws with my accounts or money and think they can get get away with it), telling them that if they were really the reputable bank they claimed, they'd have taken responsibility for the problems I incurred. Not once did I get the perk for the 5 Star guarantee - you get 5 dollars if you don't get 5 dollar service. I never once saw any of it, even when I did call them on it.

Then she had the nerve to tell me I'd have to take a check, and that they'd have to charge for it. Gee, didn't I just get done bitching you out? I told her no way in hell, they were going to give me cash. Two hours later, I had my money, and I was on my way to SOs credit union. I haven't looked back since.

[Rapscallion]

I've had mixed reactions with banks. When I was working for my father on a minimal income, one of them told me to my face that they wouldn't even consider opening a cheque account for me, let alone offering me a loan I wanted.

Early on last year, I wandered over to a building society (like a bank, but mutually owned) and asked for a mortgage. On my significantly increased income, they offered me a sum not sufficient for the house I now own, and I mentioned that with my deposit I wouldn't have quite enough. "You have a deposit?" I mentioned a significant number of coins, slightly aware that most people don't have deposits when approaching banks for mortgages. "Outstanding loans?" None. "Credit cards?" Oh, I pay that off every month, what little I use (actually, just this site...)

They greeted me with open legs.

Um, not quite, but there were smiles all the way around.

Rapscallion

[Boozy]

One thing a lot of people don't consider when choosing a bank: Why not open an account at the same branch as your parents?

Often (obviously not always), your parents are long established customers with far more assets than you. When I opened an account at my father's branch, I was treated wonderfully....because they didn't want to lose his accounts. My measly deposit wasn't much to them, but he had multiple investments and a mortgage.

Just thought I'd put it out there. I didn't waltz in and start demanding special treatment or anything, but why not let nepotism work for you?

[edible_hat]

One thing a lot of people don't consider when choosing a bank: Why not open an account at the same branch as your parents?

I'm with the same credit union as my parents, have been for a long time (in October I'll qualify for lifetime membership, and get perks like extra interest on deposits and lower interest on loans). Because of my parents' accounts I didn't pay an application fee for my car loan.

[fma_fanatic]

One thing a lot of people don't consider when choosing a bank: Why not open an account at the same branch as your parents?

Often (obviously not always), your parents are long established customers with far more assets than you. When I opened an account at my father's branch, I was treated wonderfully....because they didn't want to lose his accounts. My measly deposit wasn't much to them, but he had multiple investments and a mortgage.

Just thought I'd put it out there. I didn't waltz in and start demanding special treatment or anything, but why not let nepotism work for you?

I did that way back when I was still in high school. My dad banked at Hells Fargo and I wanted to open a savings account. Everything was fine for a while and when I got my first job, the company also used Hells Fargo. I would go down to the local branch 3-4 times a week to make deposits into the company account and the business tellers got to know me pretty well.

One particular day, I had deposited well over 30k in cash, as well as 5k in checks. That same day, I was paid and went back to the bank to cash my paycheck as I needed the money (note that the paycheck was drawn on the business account as it was a small company) to pay a bill and give my parents some cash.

I waited my turn and presented the check. I get told that there's no money in the account. That surprises me as I was just there 2 hours before and had deposited the 35k. I was more than certain that they had 600 dollars to pay me. I asked the teller to check again, and she did, then handed the check back to me saying that the check was no good. Hmmm...okay.

I wander over 20 feet to the merchant side and present the check. Of course the one teller who knows me well takes the check and runs it through. What do you know, it clears no problems. The other teller comes over and starts chewing the business teller out - what are you doing? you can't do that, blah blah. I just happen to look through my checkbook and find the deposit slip I'd forgotten to give my boss (oops) and hold it up for the teller to see.

"See this? It says that I was in here 2 hours ago and deposited 35 grand, 30 of it in cash. Are you going to tell me that cash doesn't get credited immediately? If so, then I'd better let my boss know so she can move her accounts to another bank. And if she does, so will I." The teller doesn't know what to say, does the fish mouth thing and stomps off back to the customer side. The business teller laughed, saying that the other teller probably didn't put in the right account number, and handed me my cash. Then she lowered her voice and asked if the business would leave. I told her probably not, but the boss hadn't been happy with Hells Fargo in a long time.

6 months after that, the boss did close the account, but it wasn't because anything the bank did - a vendor had stolen and washed a check we'd sent for payment and proceeded to write nearly 10k in bad checks. While the company didn't go under, it did put a damper on any plans of expanding to a retail location (we were mail order at the time).

[PepperElf]

so.... the tellers seem to have some issues with getting their stories straight too.

"He's out to lunch".... Ok who takes LUNCH after 4pm?
and then he's suddenly "Out until Wednesday" and you're talking to them on a Friday?
Wow. I wish my job gave me a 4 day "Lunch"!


and banks in general....
I've left a few banks because of crappy service or disagreements over procedure...

1) Left Key Bank when I was in my early 20s. I'd lost a checkbook and had asked for a hold on my account & they agreed. When the checkbook was found, I went in to request the hold be lifted.... "What hold?" They'd never put it in the system. I canceled my account immediately.

2) Left NFCU cos of their policy on debit/atm cards. One card broke, so instead of just replacing that card, they can only replace both at the same time.... nothing sucks more than trying to pay online bills when the bank cancels your credit card and you have to wait for them to get around to mailing you a new one.


I almost left BoA but it's close to my family, and some of the banks here are associated with them - meaning no fees for me to use the machine. But they did royally piss me off a couple of years ago...
I called to change my billing address, and they were like "OK" but they never did it. So I had a hell of a time buying a computer online cos they hadn't done their job and the computer company wouldn't process the payment without the correct info. Then the bank wouldn't cancel the transaction cos it was "on hold", even after HP faxed them a statement saying "It's ok to release the funds, we're not going to charge it". Finally one of them at the bank just gave me a credit long enough to make the purchase.

since then... they've been less of a jerk about service. I made a point of emailing them via the web page about it.

But... since i'm overseas in Japan now, they like to question my purchases a lot. Mom says it's for my own good in case someone steals my info. but it is annoying still. Especially when calling in...you have to use recent transactions to verify it's you, but ... they won't accept "I just withdrew 5000 yen yesterday" as a proper verification, they want it in USD.... grr. I try to verify via the web page now because of that.