The bank owes me $39 and I want it!

[LakeArenal]

Today I expected a e-deposit from my insurance company. A rather large one. It’s an annual thing.

When I went on-line to check, there was a message:
“Due to unforeseen circumstances, some electronic deposits or debits were unable to be posted.”

Seems to me when I have “unforeseen circumstances” making a timely deposit I get a $39 service charge.

I want it. I’m going to start holding my breath til I get it. 😡🤬🥵

[Hotler]

1. Years ago Chase Visa owed me a quater for

over paid VAT tax for motorcycle parts I ordered overseas. It was about the same time the banks were ordered before congress to answer for outrages fees and interest. I was watching C-SPAN and one of the bankers referred to people that use their credit cards and pay them off each month as "deadbeats", because we use their money for free for 30-days. My card went right in a drawer and stayed there. Month after month I would get a statement saying I had a -25 cent balance. One day the statement came and the -25 cents was gone. Where did my quarter go? I called them and they said it just went away, What???. I said, if I owed you 25 cents month after month you would have been all over my ass to pay it and charge me tons of fees and interest, and they said that was correct. I told them to shove their credit card up their ass and they hung up on me.

I went to the credit union and got abetter deal. I still use cash for most of my purchases. I like the credit union, hate the banks.

[PoindexterOglethorpe]

2. You need to get a different bank.

One that doesn't charge such nonsense fees. Maybe a local credit union.

[dumbcat]

3. Credit Unions are great and have a place

in many people's finances. But, if you do many financial transactions with brokerage accounts or other ACH transactions , or especially need to do international wire transfers, they can be problematic. They usually need to go through a major commercial bank, adding delay and possible problems.

But, they sure are nicer for local purposes.

[PoindexterOglethorpe]

4. I used to have my account with a major

nation-wide bank, and then decided I'd rather support a local one. So I switched my accounts. I don't do international wire transfers, and when I want to move money from my brokerage account to my local checking account, I write a check. Not a problem.

The only drawback for me is that if I want to withdraw money from an ATM that's not one of theirs, I'll pay a fee. I get around that by using my brokerage account, as they are part of a nationwide network that has ATMs in lots of retail outlets, such as Target. Since I travel several times a year out of state, it's something I simply need to pay a bit of attention to, but so far has worked out quite well.

[dumbcat]

8. That'll work

I now do a lot of transactions with my brokerage account via direct ACH transfers between accounts. I haven''t used a check in years, and in fact my brokerage account no longer offers checking features on the account.

I have only done a few international wire transfers over the years. They were mostly caused by my curiosity about how they worked. Sorta long story, but back in the early 80's when I was working on my first MBA (with a concentration in International Management) I read a paper on how to open a Swiss Bank account. That piqued my curiosity and I actually went through the process and opened an account with the Union Bank of Switzerland in Zurich. I did it all above board, legal, and filed all the required forms with the IRS. I just found the process interesting. I made some deposits and withdrawals both by check and by wire transfer (which was a little more difficult back them). I played with that account for about 10 years before I closed it.

Even more weird, in the late '80's, when I was working on my second MBA (concentration in International Finance) my thesis paper was about opening an offshore International Business Company in the Cayman Islands. Again, I went through the process legally and all required forms filed with the IRS. I made a few investments through it just to illustrate the process, wrote the paper, and then closed it out. Nowadays it is much harder to do what I did then, and getting almost impossible to hide from other private parties, much less the IRS.

Sorry about the long story. But I thought it was pretty interesting back in the day. Now with the instant communications and record keeping of the internet, much has changed. I'm glad I don't have to deal with it much anymore.

[PoindexterOglethorpe]

9. That is an interesting story, and thank you for sharing it.

But it sounds like you haven't done any international money wires in a couple of decades.

I suppose I could see if my brokerage account could be set up to allow me to directly transfer money from that to my checking account, but I honestly feel no need for that.

I do have two checking accounts (two different purposes and want to keep the money separate) and one savings account at my bank, and I can very easily move money between accounts electronically.

I also pay all of my bills electronically. Some are direct withdrawals from my checking account, others I set up the bill pay each month as the bill comes in. I was quite astonished recently when visiting my younger sister, that she's still paying her bills by check. She was fussing about having missed a payment of some kind, which is all too easy to do, I know very well. Back when I was still writing checks for everything, it was a chore I hated, so I'd put it off and then owe a service charge. Truly stupid because it was never from not having enough money in the account. Now, as soon as a bill comes in I sit in front of the computer, go to my checking account and schedule the payment. It's really nice.

[hauckeye]

5. Huh I saw the same message on my bank website today

[trueblue2007]

6. sue them

[onethatcares]

7. in the same vein

I was in the drive thru at mcds today to grab a quick gut filler for lunch,(it was on my way back to the job and I needed to keep moving) anyway the price for a 2 cheeseburger meal w fries and coke was posted as $4.29. The order taker said "that will be $5.34 at the first window. So I pulled up to the window and asked, "what kind of taxes are you charging? 7% of $4.29 is a lot less". She said, "well we changed the prices two weeks ago but haven't been able to change the sign. Want to see a manager?"

So I held up the line for the sake of less than a dollar. I figured that ,70 felt better in my pocket than mcdonalds.

I wonder how many other people just said, "Duh," and gave it up.

BTW, I do pick pennies up whenever I see them on the ground.

[PoindexterOglethorpe]

10. There is absolutely no excuse for them not changing the sign.

They had no business charging you the higher price.

[onethatcares]

11. yeah, I know

they didn't get away with charging me the new rate. I just wondered how many paid the overage and didn't even realize it. I'm sure the accountant at that place knew how much .70 x 100 per day was.

I'll stop back tomorrow and check the sign, if it's not changed and I get over charged I'll figure something out.