Where Is The Outrage At Bank Profits?

Well, I think that it is quite easy to avoid any bank fees. If you
want to earn good interest with low fees, everyone has to option of
going to online banks like ING Direct, Etrade, or Everbank. Everbank
has capabilities to do everything that a regular bank can do. Even so,
you can still maintain a relationship with a branch bank and have a
free checking somewhere, but in my opinion, it isn't necessary in
today's world.

You think a 10% profit is BIG???

Yes, Banks charge fees, don't like it, FIND ANOTHER BANK! Plenty of
banks offer "Free" checking or savings accounts. You should look into
one. But I doubt that will solve your problem.

While it is frustrating to think that banks capitalize off the
carelessness (and running your account to the point of overdrawing it
is careless!) of their customers - can you really blame them?

You know the old saying, a fool and his money are soon parted!

Excuse me, but where do you or anyone else get off being "outraged" at
anyone making a profit? These companies are here to earn a return for
their investors (who by the way include a lot of individuals, pension
plans, etc.). They are not here to make your life easier. No one
owes me, you, or anyone else, a duty to make your life easier. They
do, however, owe their shareholders a fiduciary duty to maximize,
within the law, their return on investment.

And incidentally, those charges are spelled out in your account
agreements or in the amendments thereto. If you don't like them, take
your business to a credit union.

Instead of being outraged over profits, maybe you should be outraged
on the pathetic lack of understanding of economics that seems to
prevail in this country...

Of course, nothing is free in life. Banks generally have three tiers
of customers. Tier 1 is customers who make money for the bank based
on having large deposits sitting in their accounts. Tier 2 is
customers who break even for the bank. Tier 3 is customers who cost
the bank money -- and you sound like one of those customers. You take
your accounts down to zero (or below) regularly, you cost more in
processing time because of your high level of transactions (ATM
withdrawals/purchases) when compared to the dollar value of your
accounts/business. That's just how it is.

Remember when ATMs were free? And if you had $3 in your account, you
could deposit $3 more and then immediately withdraw $5! That was the
early to mid-eighties, though, and those days are long gone.

These are public and private companies in the business of making
money...well, earning money, not actually making it :) 10% profit is
inline with what a moderately successful company should pull in.

I agree with the rest of the posters - balance your checkbook and get
cash out of your OWN ATMS's (which usually do not charge fee's) and
you will be better.
Those ATM machines are not free. It sucks to pay $2 to get $20 or $40
out, but think about all of the transactions needed before an ATM pays
the initial investment off, then add costs of maintaining it.

Furthermore, for the ATM withdrawal cost, you can do what I do and get
cash back for FREE at any number of stores when you purchase
something. (Groceries, lumber, etc). Sometimes I will even go into
the local store instead of use the ATM out front of the store because
I can charge a $1.00 pack of gum and get cash back at the same time.
So I spent $1, but I also have gum for it.

Here is a way to solve a few of your problems.

Balance your checkbook and don't spend more money than you have --
then you will not have NSF fees.

Get some cash out weekly to use, then you won't have to pay for the
ATM fees.

I don't think banks have ever paid high interst rates on checking or
savings have they?

I have a feeling they charge for on-line banking because there is a
cost to them involved.

P.S. - Seems that BoA charges $12-25 for a biz checking account in
California, but $15-25 for a biz checking in Texas. THAT's what you
should be outraged by - the fact that I would have to pay more for the
same thing you'd be getting, but I'll bet since that difference is in
your favor I won't hear you showing your anger. ;)

I agree with Brenny. I use Bank of America and I don't get charged an
NSF because I balance my account & always know how much money I have
available. In addition, I chose BoA after I researched how many ATMs
are available to me in my area so I *don't* have to pay the fees.

Just some quick 2 minute research showed me that BoA charges $15-$25
worth of fees per month for business checking, so Wells Fargo is
cheaper than that, in fact, none of their biz checking fees are
$25/mo. If you aren't happy with the fees, switch banks. That's an
option you have.

We don't really have the option to switch oil companies when we're
unhappy with their prices since most oil companies are charging the
same or very similar prices. The fees aren't as different as they are
in the banking industry.

I don't pay the bank any fees. I chose a checking and savings account
with no monthly fee. I use only Bank of America ATMs so I don't get
charged ATM fees. If there is no Bank of America atm then I just
charge it. I keep track of my checking account so I don't get nsf
feess. It seems simple enough to me.

The Bank does pay ME for having a money market account, interest
checking, and a CD. Works for me!

First, I have never seen a sign "Non Profit Organization" written over
the door at any bank. If you have a business account with a bank I
will make two assumptions. 1. You own your own business and 2. You do
not work for free. I'll tell you what, next time I have a need for
what you do, tell me you'll do it for free or a reduced rate. Wouldn't
that cut into your profits?
Second, you are doing business with the wrong bank if you have to go
outside network to use atms. Suggestion, most banks offer free
accounts. Use a couple of them so there is an in network atm where you
need it. If travel is an issue, consider an even larger bank, they
usually have a better delivery system.
Third, don't blame employees at a bank for appearing busy, they are!
Bank tellers are now being asked to do the same job that three of them
did ten years ago for less pay. If their heads are down and they are
focused on something, I guarantee it's on keeping their jobs! You
don't balance, you get fired. Do their jobs for one day and I
guarantee you would run screaming from the building. On top of
management demands, fear of coming up out of balance and standing on
your feet all day, customers walk in the door and complain about high
fees, overdrafts and mistakes which, 99.99% of the time, they had
nothing to do with. Don't point fingers at the teller line, point
fingers at management. If tellers appear unhappy and uncaring it's
because of them. I know, I've been both. Next time you go into your
branch, try smiling at the teller and wish her a happy day and then go
bitch out the manager. Next time you visit that teller will kill
herself to wait on you and take care of your every need.