Are Banks being Crafty by Charging Non-customers Check Cashing Fees?
By roberten
@roberten (3128)
United States
January 8, 2012 7:27pm CST
Bank of Bartlett is charging between $5 and $20 to cash a check for non-customers. This latest change went into effect in the fall of 2011. This is close to the time consumers were to stage a Saturday bank atm fee protect by closing their bank accounts and opening a credit union account instead. Bank of Bartlett advertises openly that it has no atm fees but information on its check cashing fees are advertised more low key. Do you think that the Bank of Bartlett is playing bait and switch with its bank fees? Curious to know your opinion.
1 person likes this
3 responses
@knoodleknight18 (917)
• United States
9 Jan 12
It's always been hard to get a check cashed with no bank account, most places charge a fee for check cashing. Especially considering that any time a check bounces the bank loses that money.
I think banks are doing a lot of other things are pretty immoral though not illegal. For instance I had an account where as long as I transferred 25 a month to my savings my checking account was free as well as the saving. They then changed their policy and I was being charged $4/mo for my saving account and $10 for checking. Then I deposited a bad check and they charged me $15 more for that. Needless to say I now use a different bank.
I can't blame banks for charging fees as that's how they make money, but sometimes the fees are unjust and outrageous. Banks also make a ton of money from giving out loans, which most people will take eventually so even customers that aren't paying fees are usually paying a good deal of interest or at least leaving in money for them to loan out.
1 person likes this
@roberten (3128)
• United States
9 Jan 12
I am so sorry you encountered those uncomfortable and expensive fees while with your old bank; bravo of you for switching. I often wonder if banks do not believe in karma; though it appears that they generally stay inside the law, they also appear to have low moral compasses...how do they sleep at night? I do not expect all free services from any financial institution but I do expect to be treated fairly. More of us should follow your example and bank at more affordable institutions, therefore banking below or within our means.
@knoodleknight18 (917)
• United States
15 Jan 12
That's assuming banks have a conscious which they nor they owners appear to. I've had a lot of bad experiences with banks this year. So my future endeavors with them will be as marginal as possible.
@sumatix (257)
• United Arab Emirates
9 Jan 12
Due to recession the banks are also facing a tought time.
I think its out of that they are getting all these new charges.And whichever bank it may be they do have some charges because it is their earning.yes it is that some banks do have charges on one service and the other on some other service.Its on the clients part to choose wisely the bank which offers the free services availed by him and register for that particular bank.
@roberten (3128)
• United States
9 Jan 12
Ooooo, sumatix, sounds like you are pro baanks when it comes to fees. The down economy is no time to bite the hands that feed you. You are very correct when you say that customers need to choose their banks wisely; maybe switching to credit unions was not such a bad idea.
@sumatix (257)
• United Arab Emirates
12 Jan 12
Yes roberten this is what a customer can do SWITCHING. Banks will keep on doing what they feel is good for them and we as customers should do what we think is right for us.Banks are not going to change their policies for us but they neither can stop customer from switching to the favorable one..Right!
