They are necessary evils. If you don't have a bank account, life can be difficult. They have become the dictators of our money, and at times can be frustrating and aggravating to say the least.
They don't warn you they just do it and notify you later. It's probably because fraud is becoming more and more prevalent. They say that they are protecting you. Actually they are protecting themselves. If fraud is committed, most of the time it's the bank that takes the hit. It's understandable that they want to protect themselves.
It used to be that individuals developed a relationship with their bank. These days because of online banking, they no longer know who their customers are. All we have become to the banks is a number and a voice on the phone.
In order to verify who you are, you have to remember where you lived fifteen years ago, and what your phone number was. You need your account number, pass code, your address, just to make an inquiry about a problem you might be experiencing.
Opening an account online is getting to be a real challenge. That's when they ask you for your complete personal history in order to verify who you say you are. There has to be a better way. You can blame it on the thieves out there who are trying to steal your identity.
Ever talk to a customer service rep who said everything would be taken care of? Happens all the time. You have to be vigilant about following up, and making sure that they do what they say they will. If not, it's going to be you who gets charged a fee.
Wait till they start charging you an annual fee for using a debit card. They used to do that in the past, and some banks are talking about doing it again. How about limiting the amount of money you can spend on your debit card for a transaction? Hello, isn't the money being spent coming from your checking account? So far that's just been talked about.
Banks now are busily changing their free checking account structure. They are requiring ever higher balances to be kept in order to receive a free account. Along with that banks are requiring that you have direct deposit and are continually putting more and more conditions on free checking accounts. It's not just aggravating. It's wrong.
Thanks for the banking tips. H5
LOL Because I worked at banks for years I can proudly say, they are almost always aggravating (even to their employees). It is all these board meetings of people who have no idea how to deal with the real general public that make all these dumb rules. :/ Glad I am OUT!
Banks are almost as bad as the government!
select one here...