Banks Steal From You.

[BurnTheOliveTree]

In England, there's a growing tendency amongst the banks to charge you when you take money out from your account.

Does this jar with anyone else? Even if you're in favour of capitalism, this must catch in the throat of anyone with an ounce of brain power.

Because, it's not a viable option to abstain from banking. You need it to be paid in most jobs, to deal with tax, and so on and so forth. You pretty much have to use a bank. For the banks to then take your money and use it to make themselves richer is one thing, maybe you can accept that, it doesn't affect you directly. But for them to then take your money for you to access your own cash? I really fail to see how this is anything less than instiutionalised theft.

Thoughts?

-Alex

[Bud Struggle]

All depends--if it's an ATM transaction and you go to another bank--there might be a fee, that's fair. An ATM and your bank--not fair. Your bank--it's your freaking money--they should be thankful that you let them hold if for you.

Unfair transaction. I wouldn't pay it.

Shop around.

[politics student]

Welcome to capitalism, Banks are businesses aiming to make money.

Over drawn charges are incredible high with a high % interest on loans and mortgages.

Charges on withdrawing your own money is disgusting some holes in the walls are free so its best to search the local area to find the free ones mainly the ones owned by banks are free to withdraw.

[534634634265]

you could help raise inflation and simply stuff your mattress with money. i wonder what happens if people start to stop banking, and begin keeping their money themselves.(probably no more banks)
we could organize and lend collectively, like a monetary co-op. i don't know enough about this idea, has this been tried?

[TheCultofAbeLincoln]

No fuckin shit.

I'm getting charged $188 by my bank for overvharge fees.

Now, granted, I should have kept much better tabs on how much money I had (or didn't have). BUt I can't stand how they say Overdraft Protection is a plus.

When I told them that instead, I'd rather not have them do me any favors and instead just have my card not go thru, they looked at me like I was insane. Fuck the banks.

[danyboy27]

well, in theory, those transaction fee are supposed to make the bank live, but with year its become outrageous.
a hint: at the begining of the month, pay all your bill and kep the rest cash: you will have almost none transacton fee, since you pay cash. if you dont bother dont have a good interest rate, you can rent a safe at the bank and put all your surplus in for your old day.

[pusher robot]

I would never give my business to a bank with such a policy. In fact, I'm not much a fan of banks. I'm a credit union man.

[danyboy27]

I would never give my business to a bank with such a policy. In fact, I'm not much a fan of banks. I'm a credit union man.

is a credit union the synonim of cooperative?

[534634634265]

is a credit union the synonim of cooperative?
i think maybe you just answered my question earlier in this thread.

EDIT: yap, you did. check out the wikipedia page for credit unions. sounds like we need to establish the First Leftist Credit Union!

[danyboy27]

i think maybe you just answered my question earlier in this thread.

EDIT: yap, you did. check out the wikipedia page for credit unions. sounds like we need to establish the First Leftist Credit Union!


here in quebec (canada, french province) we have a big cooperative called desjardin, work relatively well, got good rate and such, but sometimes ita a real pain in the ass.

[gla22]

in the U.S if you use your ATM card it will charge you like a few dollars if it is at a machine owned by someone other than your bank. There is also overages, to avoid this i have just a savings and use my ATM.

[534634634265]

seriously, we should organize our own non-profit credit union. how is this not an achievable goal for all revolutionaries? we could use electronic banking just like big private banks. regional branches in major cities around the world, we lend to revolutionary groups, this is a good idea isn't it?

[Decolonize The Left]

seriously, we should organize our own non-profit credit union. how is this not an achievable goal for all revolutionaries? we could use electronic banking just like big private banks. regional branches in major cities around the world, we lend to revolutionary groups, this is a good idea isn't it?

No offense intended, but this is pretty poor idea. Problems:
1) Where would the money be stored?
2) Who would protect the money?
3) Wouldn't protecting money seem a little silly to revolutionaries?
4) Where would we buy a building for a central office?
5) Where would we buy buildings for regional offices?
6) Where would we get the money to buy/rent the buildings, buy the cards/checks, run the website, etc...

- August

[politics student]

No fuckin shit.

I'm getting charged $188 by my bank for overvharge fees.

Now, granted, I should have kept much better tabs on how much money I had (or didn't have). BUt I can't stand how they say Overdraft Protection is a plus.

When I told them that instead, I'd rather not have them do me any favors and instead just have my card not go thru, they looked at me like I was insane. Fuck the banks.

Sorry to hear that.

I pay for everything in cash so I can keep more accurate tabs of how much cash I have.

[danyboy27]

No offense intended, but this is pretty poor idea. Problems:
1) Where would the money be stored?
2) Who would protect the money?
3) Wouldn't protecting money seem a little silly to revolutionaries?
4) Where would we buy a building for a central office?
5) Where would we buy buildings for regional offices?
6) Where would we get the money to buy/rent the buildings, buy the cards/checks, run the website, etc...

- August


but paypal seem to be able to do everything you describe.
perhaps the bank crackedlogic is talking about would be a internet bank only, like paypal. there is already a fews other internet only institutions.

[Schrödinger's Cat]

A bigger steal comes from most people having to rely on a mortgage when/if they do pursue a house.

[534634634265]

but paypal seem to be able to do everything you describe.
perhaps the bank crackedlogic is talking about would be a internet bank only, like paypal. there is already a fews other internet only institutions.

that is actually EXACTLY what i meant. i don't like paypal, but an internet bank or an internet credit union would suffice nicely. most transactions are done through a swipe of a card these days anyway.

[politics student]

A bigger steal comes from most people having to rely on a mortgage when/if they do pursue a house.

Those poor wage slaves.

Your job may be awful but you will have to put up with it for 40-50 years if you don't we will take you home from you and ruin your life.

I really don't want to be a home owner I want to avoid becoming a wage slave (I suppose I already am to pay through education) :(