tloonya
Junior Associate
What status?
Joined: Dec 18, 2010 16:22:13 GMT -5
Posts: 8,452
|
Post by tloonya on Sept 20, 2013 12:35:25 GMT -5
Ok...I Do have this effect on people...they tell me things...(wait, I am feelinjg like I wrote that before)...
So I had an issue with my bank when they had refused to pay for my purchase at the store (I had less money available than purchase called for), however they held my money a hostage and wouldn't release it to me. They said in 3 days. I said hell no!
I went to a manager and cried and he released it immediately. It is btw my 'good bank' - credit union.
So a few days ago I had called him and asked if we can open another business account and what is the charge for depositing of 3000 checks per month and here what he told ME. He said that 'we are going to charge you less because we are credit union and we don't have to pay share holders. However we are going to charge you! Businesses for us are the 'cash cow' and here is where we generate most of our money. So we are going to charge but remember - it will be less.'
And I was like 'WOW'! I told him though 'it is not nice to call us a cows, can you call us something different?' He just laughed.
So I am yet to go and talk to him. Tomorrow. But how do you like his honesty?
|
|
cronewitch
Junior Associate
I identify as a post-menopausal childless cat lady and I vote.
Joined: Dec 20, 2010 21:44:20 GMT -5
Posts: 5,979
|
Post by cronewitch on Sept 20, 2013 12:39:06 GMT -5
He could call you sheep, is that better?
|
|
kilroy
Familiar Member
Joined: Jun 3, 2013 7:29:03 GMT -5
Posts: 754
|
Post by kilroy on Sept 20, 2013 12:39:11 GMT -5
I would assume that the fact that banks make most of their money from business customers was common knowledge And why are you making a purchase if you have "less money available than purchase called for"?
|
|
tloonya
Junior Associate
What status?
Joined: Dec 18, 2010 16:22:13 GMT -5
Posts: 8,452
|
Post by tloonya on Sept 20, 2013 12:52:40 GMT -5
He could call you sheep, is that better? Are you kidding me? Of course! Have you seen a sheep commercial for Sleepy mattresses? Cuuuuuuuuuuutesy pies! I am still want to buy a mattress and throw it out and keep the sheep toy. I am toying with this idea for...months...but I am not sure Sleepy is giving them toys out with purchase anymore...
|
|
NomoreDramaQ1015
Community Leader
Joined: Dec 20, 2010 14:26:32 GMT -5
Posts: 48,070
|
Post by NomoreDramaQ1015 on Sept 20, 2013 12:54:57 GMT -5
And why are you making a purchase if you have "less money available than purchase called for"?
You do realize which poster you're asking that question, right? She does it all the time.
|
|
tloonya
Junior Associate
What status?
Joined: Dec 18, 2010 16:22:13 GMT -5
Posts: 8,452
|
Post by tloonya on Sept 20, 2013 13:00:09 GMT -5
I would assume that the fact that banks make most of their money from business customers was common knowledge And why are you making a purchase if you have "less money available than purchase called for"? I don't remember exactly why but I was told coming to this country that 'assuming' is almost like showing that person isnt smart. So I was told 'don't ever assume anything' and I don't. And I don't ask questions that have nothing to do with original post. Because its nobody's business WHY! Because!
|
|
kilroy
Familiar Member
Joined: Jun 3, 2013 7:29:03 GMT -5
Posts: 754
|
Post by kilroy on Sept 20, 2013 13:02:34 GMT -5
Nope, not new, just
|
|
greeniis10
Well-Known Member
Joined: May 9, 2012 12:27:09 GMT -5
Posts: 1,834
|
Post by greeniis10 on Sept 20, 2013 13:05:12 GMT -5
Ahahaha! Yes, those sheep from the commercial ARE cute! No offense, kilroy, yes, I think most people know that business accounts make money for the bank, but I don't think it was professional at all for the guy to say it so blatantly! I worked at a bank years ago and if someone told me that while I was opening a business account inquiring about fees I would let them know exactly how I felt about it! Not sure if I'd use them, either. It would depend on the location and the other things they offer.
|
|
NancysSummerSip
Community Leader
Joined: Dec 19, 2010 19:19:42 GMT -5
Posts: 36,676
Today's Mood: Full of piss and vinegar
Favorite Drink: Anything with ice
|
Post by NancysSummerSip on Sept 20, 2013 13:08:46 GMT -5
Above is from the original post. Above is Kilroy's question. Above is TLoony's response. I get that you did not ask the question regarding the original post. Kilroy did. It is a highly relevant question. The three-day rule regarding the holding of funds is common to most banks and credit unions: both my bank and credit union have this rule. It's there to insure that deposits clear, and the number of days a bank can hold a deposit depends on what kind of deposit it is: www.federalreserve.gov/pubs/regcc/regcc.htm
|
|
movingforward
Junior Associate
Joined: Sept 15, 2011 12:48:31 GMT -5
Posts: 8,385
|
Post by movingforward on Sept 20, 2013 13:10:53 GMT -5
tloonya is a cash cow Oh, must be all those bounced check fees they accumulate
|
|
tloonya
Junior Associate
What status?
Joined: Dec 18, 2010 16:22:13 GMT -5
Posts: 8,452
|
Post by tloonya on Sept 20, 2013 13:15:13 GMT -5
Above is from the original post. Above is Kilroy's question. Above is TLoony's response. I get that you did not ask the question regarding the original post. Kilroy did. It is a highly relevant question. The three-day rule regarding the holding of funds is common to most banks and credit unions: both my bank and credit union have this rule. It's there to insure that deposits clear, and the number of days a bank can hold a deposit depends on what kind of deposit it is: www.federalreserve.gov/pubs/regcc/regcc.htmTHAT WAS NOOOOOOOOO DEPOSIT!!!!!!!!!!!!! READ WELL!
|
|
kilroy
Familiar Member
Joined: Jun 3, 2013 7:29:03 GMT -5
Posts: 754
|
Post by kilroy on Sept 20, 2013 13:19:43 GMT -5
Your OP doesn't say what money the bank was "holding hostage"; as Nancy pointed out, the 3 day hold rule normally applies to deposits.
|
|
dannylion
Junior Associate
Gravity is a harsh mistress
Joined: Dec 18, 2010 12:17:52 GMT -5
Posts: 5,212
Location: Miles over the madness horizon and accelerating
|
Post by dannylion on Sept 20, 2013 13:23:38 GMT -5
Well there's your problem.
|
|
NancysSummerSip
Community Leader
Joined: Dec 19, 2010 19:19:42 GMT -5
Posts: 36,676
Today's Mood: Full of piss and vinegar
Favorite Drink: Anything with ice
|
Post by NancysSummerSip on Sept 20, 2013 13:23:50 GMT -5
I did. And that being the case, there's an even bigger issue. Why was your money being "held hostage"? If there were no recent deposits, and you had money in the account, it should have been released. Unless, of course, the bank knows you have fees to pay (for overdrawing) and they are keeping the money there so those fees can be paid.
And charging you for those deposits does make you a cash cow for the CU. But compared to what you pay in overdraft fees, the deposit fees are nothing. The overdraft charges are probably so high, you are the bank manager's personal money honey.
|
|
greeniis10
Well-Known Member
Joined: May 9, 2012 12:27:09 GMT -5
Posts: 1,834
|
Post by greeniis10 on Sept 20, 2013 13:28:19 GMT -5
I'd be interested to know too why the money was being held. If it wasn't for a recent deposit then maybe it is to maintain a minimum balance required for business accounts. But, that's just a guess on my part.
|
|
tloonya
Junior Associate
What status?
Joined: Dec 18, 2010 16:22:13 GMT -5
Posts: 8,452
|
Post by tloonya on Sept 20, 2013 13:40:22 GMT -5
I'd be interested to know too why the money was being held. If it wasn't for a recent deposit then maybe it is to maintain a minimum balance required for business accounts. But, that's just a guess on my part. I'll tell you because you seem the one normal here... I had lets say $300 available on my account. I went to the store and spent $324. So the screen said not authorized and I paid with another card. However when I wanted to use the first card to pay $50 it wouldn't let me. Thats how I found out money were held by the bank. Bank said it was held by store. Store said 'we didn't get any, how can we hold it?'...banks said...bottom line they released it.
|
|
justme
Senior Associate
Joined: Feb 10, 2012 13:12:47 GMT -5
Posts: 14,618
|
Post by justme on Sept 20, 2013 13:44:24 GMT -5
Ah, that's one of the holds that often happens with debit cards now that people have to 'opt in' to overdraw their account (and accept the fees). So even though the purchase was denied the initial hold that went through was on there. Most people don't notice the errant holds if they have enough of a cushion in their checking account.
|
|
NancysSummerSip
Community Leader
Joined: Dec 19, 2010 19:19:42 GMT -5
Posts: 36,676
Today's Mood: Full of piss and vinegar
Favorite Drink: Anything with ice
|
Post by NancysSummerSip on Sept 20, 2013 13:58:39 GMT -5
Ta-daaaaa! Winner, winner, Amish chicken dinner!
|
|
imawino
Junior Associate
Joined: Dec 17, 2010 22:58:16 GMT -5
Posts: 5,370
|
Post by imawino on Sept 20, 2013 14:14:36 GMT -5
tloonya is a cash cow Oh, must be all those bounced check fees they accumulate
|
|
Deleted
Joined: Oct 7, 2024 6:24:03 GMT -5
Posts: 0
|
Post by Deleted on Sept 20, 2013 14:41:49 GMT -5
I am a glad to hear you got it all straightened out, Loony.
So Loony is living close to the edge. Since doxie's gone, she's the closest thing we have to a trainwreck around here.
if you naysayers make her leave I WILL CUT YOU!!!!
|
|
Peace Of Mind
Senior Associate
[font color="#8f2520"]~ Drinks Well With Others ~[/font]
Joined: Dec 17, 2010 16:53:02 GMT -5
Posts: 15,554
Location: Paradise
|
Post by Peace Of Mind on Sept 20, 2013 15:08:50 GMT -5
LMAO!! Sweetie, we all tell you things! The question is - do you ever listen?
|
|
NancysSummerSip
Community Leader
Joined: Dec 19, 2010 19:19:42 GMT -5
Posts: 36,676
Today's Mood: Full of piss and vinegar
Favorite Drink: Anything with ice
|
Post by NancysSummerSip on Sept 20, 2013 15:47:56 GMT -5
I.see.dead.people.
|
|
NoNamePerson
Distinguished Associate
Is There Anybody OUT There?
Joined: Dec 17, 2010 17:03:17 GMT -5
Posts: 26,211
Location: WITNESS PROTECTION
|
Post by NoNamePerson on Sept 20, 2013 20:08:18 GMT -5
Ok...I Do have this effect on people...they tell me things...(wait, I am feelinjg like I wrote that before)... So I had an issue with my bank when they had refused to pay for my purchase at the store (I had less money available than purchase called for), however they held my money a hostage and wouldn't release it to me. They said in 3 days. I said hell no! I went to a manager and cried and he released it immediately. It is btw my 'good bank' - credit union. So a few days ago I had called him and asked if we can open another business account and what is the charge for depositing of 3000 checks per month and here what he told ME. He said that 'we are going to charge you less because we are credit union and we don't have to pay share holders. However we are going to charge you! Businesses for us are the 'cash cow' and here is where we generate most of our money. So we are going to charge but remember - it will be less.' And I was like 'WOW'! I told him though 'it is not nice to call us a cows, can you call us something different?' He just laughed. So I am yet to go and talk to him. Tomorrow. But how do you like his honesty? I'm just curious why you need to open another account. Won't you just be doubling your problems?
|
|
Otto the Orange
Well-Known Member
Go Orange!
Joined: Aug 23, 2012 4:20:52 GMT -5
Posts: 1,284
|
Post by Otto the Orange on Sept 21, 2013 2:28:30 GMT -5
Ok...I Do have this effect on people...they tell me things...(wait, I am feelinjg like I wrote that before)... Loony, you are going to keep all the things I told you in PM to yourself though, right? You are right though, for some reason I do tell you things..........
|
|
tloonya
Junior Associate
What status?
Joined: Dec 18, 2010 16:22:13 GMT -5
Posts: 8,452
|
Post by tloonya on Sept 21, 2013 7:01:09 GMT -5
LMAO!! Sweetie, we all tell you things! The question is - do you ever listen? I do sweety, I do...sweety -hug-but you can't see it yet.
|
|
Deleted
Joined: Oct 7, 2024 6:24:03 GMT -5
Posts: 0
|
Post by Deleted on Sept 21, 2013 18:43:13 GMT -5
I feel so sad for your bankers. You have repeatedly overdrawn your business accounts and now try to purchase something for more money than is in your account? If that manager had any smarts he would have told you that it would be FAR MORE EXPENSIVE to have your accounts with them Why don't you ever know the actual balance in your bank account? I don't understand this phenomenon of not knowing how much money you have in your account. Why do you like to torture your bankers?
|
|
NastyWoman
Senior Associate
Joined: Dec 24, 2010 20:50:37 GMT -5
Posts: 14,866
|
Post by NastyWoman on Sept 21, 2013 18:52:48 GMT -5
I feel so sad for your bankers. You have repeatedly overdrawn your business accounts and now try to purchase something for more money than is in your account? If that manager had any smarts he would have told you that it would be FAR MORE EXPENSIVE to have your accounts with them Why don't you ever know the actual balance in your bank account? I don't understand this phenomenon of not knowing how much money you have in your account. Why do you like to torture your bankers? Rock it, this a dangerous remark!!! Read Beer's post (#20) and heed its advice
|
|
tloonya
Junior Associate
What status?
Joined: Dec 18, 2010 16:22:13 GMT -5
Posts: 8,452
|
Post by tloonya on Sept 22, 2013 13:14:49 GMT -5
I feel so sad for your bankers. You have repeatedly overdrawn your business accounts and now try to purchase something for more money than is in your account? If that manager had any smarts he would have told you that it would be FAR MORE EXPENSIVE to have your accounts with them Why don't you ever know the actual balance in your bank account? I don't understand this phenomenon of not knowing how much money you have in your account. Why do you like to torture your bankers? Poor bankers... Do you want to adopt one and send them something monthly for their comfort? In return they will send you their profit statement so you know they are ALL right! And I mean...ALL...
|
|
Deleted
Joined: Oct 7, 2024 6:24:03 GMT -5
Posts: 0
|
Post by Deleted on Sept 23, 2013 9:47:12 GMT -5
Why don't you ever know the actual balance in your bank account? I don't understand this phenomenon of not knowing how much money you have in your account.
I don't understand this either. 25 years ago I used to carry a hand written register with me and knew to the penny what I could spend. These days I just check my phone app, but it's the same concept. Just blindly spending and hoping there's enough makes no sense to me.
|
|
greeniis10
Well-Known Member
Joined: May 9, 2012 12:27:09 GMT -5
Posts: 1,834
|
Post by greeniis10 on Sept 23, 2013 11:10:06 GMT -5
Thank you for the explanation of the "hold". Makes sense. I hope they can find a business account that suits your needs and works with their procedures. It is very frustrating, I know!
|
|