Comments on: Simplifying Finances Saves You Money

By: baccus

baccus — Wed, 04 Feb 2009 19:34:16 +0000

You guys have it easy…lol
I had 3.99$ left in my checking account at commonwealth credit union, they charged me a $4.00 low balance fee? This put me into the negative. They then began charging 29$ per day in overdraft fees and sent me a letter that did not arrive for several days. Thus the checking account is well over $100 in the red due to inappropriate fees.
Is there anything we can actually do about this?

By: her every cent counts

her every cent counts — Wed, 16 Apr 2008 20:50:02 +0000

This happened to me too! Twice! I noticed the $3 charge on my savings account and was like, WTF? So I called them and they refunded it. I also have more than $10k in BoA accounts so I’m supposed to not have to keep a certain amount in my savings account.

The next month the $3 fee was back! So I called up again. They refunded both of these charges — noting that the second charge processed for the month I called them during. Still, it was annoying to have to spend that time on the phone for $6. But I’m glad I did it.

I moved most of my savings money to ING but am keeping about $300 in my BoA account. At some point I want to liquidate my BoA account altogether, but as a freelancer it’s sure helpful to have a local bank w/ a lot of ATMs to deposit my checks.

By: cooliojones

cooliojones — Mon, 14 Apr 2008 15:23:50 +0000

I’ve found that you can sometimes get a rep who will refund those fees, especially if you catch it in the first month or second. I think a good challenge would be to have a bank fee free year — no overdraft fees, no overbalance fees, no ATM fees, no transfer fees – nothing except maybe interest.

Next, I would challenge America to give up their savings accounts at the local-but-nationwide banks, and maybe they will wonder why slowly people are removing their money from these paltry, low-interest accounts. They pay out less than 1% like you said, but make about 1000% on the money they have in their possession. That’s outrageous.

By: dogatemyfinances

dogatemyfinances — Mon, 14 Apr 2008 13:21:52 +0000

That's the Bank of America business plan: lots of fees. They hit me, they hit Single Ma, they hit you. I canceled everything Bank of America. There's just too much competition to tolerate that junk. Single Ma canceled over $4. I canceled over $12 that "couldn't" be reversed.