I hate the new annoucements in the mail from banks and credit cards, don't you?

Be careful, those inserts are usually increases in something. Yes, I hate how small everything is now. You should be able to ask for larger print should you ever need to. Thanks for responding and take care.

Yes, all those things are upsetting. Yeah, they act like they're doing you a favor when they rip you off. Many people can't keep 100 dollars or more in an account. So less than that, they're better off not to bother with an account I guess.

I would say why not say right off that it is a secured savings account and why assume that once you reach retirement, that you are going to go on a spending spree and spend all your money? I can understand giving those cards to people starting out like just out of high school and at their first jobs, but to someone to a retiree who has already gotten a decent pension is not that nice. And thanks for the best response.

You're welcome.
My friend just went ape after opening his bank statement. Now, every transaction will be $2.00 surcharge including automatic deposits. He's on Social Security, had a pension, and another income. So three deposits, $6 right there, then each bill he pays $2 for electric, stove gas, etc. Easily count up to $20 or $30 dollars during an average month. His kids live 7 hours away and he can't travel any more. So he sends them a check during Christmas season, so $2 for each kid and grandkid, etc. So he said, "No, no, no, this can not stand, it just can not stand. I will be calling them and telling them that I will go somewhere else, that's insane to do to an elderly person, Christmas could cost me $50 and since I'm home bound, all the checks I make for things that I send for, they're going to deplete my account in just surcharges."
It just keeps getting worse and worse, doesn't it? It's one thing to say that about ATM charges, but everything? Nuts, just crazy.

In Canada, once you reach 55 in most banks, you do not get charged for ATM fees. I do not know how long it will last, but I remember before I got to be 55, we were only allowed one free ATM withdrawal or use of a debit card, but we were compensated in that we could apply for a credit card and get it because either we our our husbands made a good salary.
But once you are retired, it is a different story. Like your friend, they find a way to screw you, either by offering you secured credit cards, making the amount of annual income higher then normal, and then charging you. I bet before he retired, your friend was very good at managing his money, but do they care? no. It is a shame that he cannot visit his grandchildren as much as he would like. He should not be charged surcharge for automatic deposits. That is unfair.

Yes, it is bad enough to be home bound, but to do this to a home bound person! He will have to fight with them by phone. But his spirit is like yours, so he will fight. It will take a lot out of him, energy he could use for something else (which is upsetting), but he will fight on.

Actually, he's not good with credit cards. He has two leans on his propery because of them. But he has not had problems with his bank account.

I'm sorry Canada treats older people so poorly. It should be your golden years not golden tears.

I think most countries are the same when the elderly are not respected. Look at the United Kingdom, when an old person goes into a hospital, they do not know if they will emerge alive even if it is for just a little thing. At least here in Canada, we are not that bad, but I think it is mainly the credit card companies who are treating them that way. They assume that once you reach a certain age - you are not that good with money, you will get Altzeimers, etc. be senile.
As for your friend, if he had bank credit cards, they are joined with his banking accounts, and that is probably why he is having so much trouble. What he should do is to arrange a plan to pay down his credit cards. You did not tell me that at first. I assumed he was like me, paid on time, if was on debt, got rid of the debt,but we are now having to pay for our renovations, etc. and will have that cleared up pretty quick.

I think he pays on time, but has way over spent. Two leans on his property. He's always trying to tell me how to manage my $, but I don't have leans on my property.

Unless it is like my brother-in-law who did not have a middle name and everyone in Saskatchewan with the same name was assumed to be this crook, your friend can only say "do not do what I did and overtend yourself. " But to give you financial advise as if he did no wrong, is not right. I would either follow your own lead or go to the credit union or bank and get a real financial adviser. That's what we did.

Oh, I listen and ignore him.

That's the best thing to do.

I read an article this past week at my Eye Drs' Office that said if you've never been late and they raise your fees, tell them you'll go elsewhere and they will usually lower the interest rate and if they don't, then go elsewhere because there is no reason to tolerate raises if you've not been late.

Good luck on your big exam Molly.

Doesn't have to be email, can be regular mail that they keep increasing rates or changing things. Be careful, banks are getting rough out there.

Take care, Molly.

That's terrible! Can you shop around for another bank or are they all doing that in your area?

I did some shopping around, and it's a relatively low fee! I guess I need to spend more time looking for income streams! Or just do my saving in a jar!

Here, there are no fee ones, esp. for people over a certain age. Could be 50, 55, 60, 65, depends on the bank. Some if you have automatic deposit from a job, no fee accounts. Sounds like it might be your area.

I guess it is this area, since I'm 62 and on direct deposit already!

Yeah, Florida, a lot of people retired down there and probably have direct deposit of retirement checks.

It's unbelievable! Our taxes went up more than 10% while our home values went down more than 40%. Today they announced that, as of tomorrow, the cost for renewing a license, ID or registration for your car is well more than double what it was. Where will we get all this money?

I know, I wish I could park my car and earn a living. Friend of mine, his taxes for his house doubled, but the value went down. Fought it, but got no where. Last time I renewed my registration on my car, $16 for two years, this time $45 for two years. My husband's small truck was over $50, I think his was $20 before. Can you get a Senior Citizen's Star exemption for your taxes?

Fortunately, every home owner can try to qualify for a homestead exemption of $50,000, and I did qualify. I watch that benefit carefully and respond to notices the day they arrive, because once it's lost, it can never be regained.

Wow, that's severe to not let you have it once you loose it. Thanks and take care.

Yeah, check out how much profit your bank is making and what the shareholders make. That really drives me nuts.