Banks and their ways...
March 13, 2012 7:56am CST
We all know how banks profit from all kind of fees and charges they charge their customers. I even almost got charged for being honest Last week I noticed a $400 credit to my account in which I knew nothing about and suspected that it was an error. So I reported to the bank straight away, and they told me there would be a $50 fee if I wanted that credit investigated as to where it came from and other details. I refused to pay & just left the credit in my account. Few days later, the bank notified me that it was indeed an error and they reversed the credit. Good thing I didn't touch the $400 at all. But I was thinking, what if I have used part or all of that money perhaps unknowingly (because I know many just withdraw whatever amount is available in their account without paying close attention to detailed transactions), then I ended up with a negative balance when the error was reversed? I'm pretty sure the bank will charge me overdrawn fee even though it's all started with an error made certainly not in any way my part
2 people like this
• United States
13 Mar 12
People in my grandmother's day used to distrust the banks. This was back in the Great Depression because the banks screwed them over. I try hard not to have too much money in the bank at once because you never know what can happen to your account.
13 Mar 12
It only means that the bank has ways to access your account without you knowing it.So it means you have to have precautionary measures yourself in cases like those you have stated above.And to clarify things up if you notice some irregularities in your bank accounts don't just ignore it have it checked with your bank for safety purposes and all.It's true that some banks have hidden charges when transacting specially on inter branch deposits and withdrawals be sure that you know how much charge they cost you and ask whether where it is being used remember it is still your money that they are using. :)
• Puerto Rico
13 Mar 12
Hello :D. You were indeed lucky to notice, I think they would try to blame it on you if you had taken part of it, even if it was their fault. That's the way banks work and people who can't afford lawyers at whim end up being bullied by them all the time. In here there have been stories of people who try to sue a bank for something or the other, and the banks keep extending the procedures until the people are forced to drop the case since they can't afford to keep going anymore, either because of the lawyers fees or the time wasted being away from work to go to court. As my grandmother used to say "we live in world were thieves wear suits and have lawyers on speed dial".