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Very Interesting Article

May 29th, 2007 at 05:30 am

I read a very good article this week entitled "When Banks Turn Evil." I thought I'd pass it along. It is quite enlightening.

Curious to hear what others think on this one.

2 Responses to “Very Interesting Article”

  1. monkeymama Says:

    I am not sure banks are turning evil, I thought they always were. Wink Credit Unions are far more consumer friendly for the most part.

    & as far as the overdraft fees and that, simply keeping a little extra money available and paying bills a few days early combats all that - nothing terribly hard. I honestly though run my checking balance to $0 most of the time. I just overall don't see it to be a problem, but I post all my bills in my register when I pay them though I might set them to pay electronically in a couple of weeks so I have a ton of float built into my account. But since they are paid a couple of weeks before the due date, I guess I am protected on both ends.

    Then I just always double check. One time a credit card payment hadn't arrived right away and it was getting awfully close to the due date - so I just made the payment again. Both payments got there in time. So yes I can be a little paranoid. But with online banking and everything these days it is so easy to keep an eye and make sure your big deposits get there, your big payments go through. IT is only really the mortgage and credit card payments I get paranoid on. All of my other bills could be days/weeks late and no one cares. So yeah if I Was worried about all my bills it could be quite time consuming, but just worry about the big ones the matter, the few like you cell phone that will charge late fees, etc. Keep an eye on those. Keep a little float in there somehow.

    Point #1 is key too - a lot of bank rules are due to federal regulations, so you can't get too upset with the banks. Same with the Quicken one, that is a Quicken issue - they charge the banks and the banks often pass along the costs. There are plenty of credit unions out there that won't charge a dime for Quicken downloads though.

    Overall, good things to know though.

  2. LuckyRobin Says:

    I don't use banks for anything but credit cards, so it doesn't really affect me, but it sure was eye-opening.

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