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Open Roads Forum  >  Around the Campfire

 > Ridiculous bank fees

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MrsSoCalToolGuy

Fountain Valley Ca.

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Posted: 03/30/12 06:36pm Link  |  Print  |  Notify Moderator

Haven't had a reason to pay extra bank fees for some time.. Today was an eye opener.. We had a refund check from Verizon coming..They called an said we could stop by the store and pick up the check...Since it was a sizable sum we drove over to pick up the check rather than have them mail it... They told us to take it to their Wells Fargo bank right up the street, which we did....Well, Wells Fargo said we would have to pay a $7 fee for cashing the check because we did not have an account with them..

I don't think so! We drove a couple of blocks away to our Chase Bank and deposited it in our account...

Holy smokes, I can't believe folks would pay $7 to cash a check.

Barb


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coolbreeze01

Redding, Ca

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Posted: 03/30/12 06:50pm Link  |  Print  |  Notify Moderator

I'll be surprised if anyone here would even pay a nickel to cash a check, let alone try to cash one at a bank they don't use.


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msmith1199

Central, CA

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Posted: 03/30/12 07:10pm Link  |  Print  |  Notify Moderator

The problem was you don't have an account there. Just because the check was drawn there doesn't mean it's a valid check. People cash forged checks like that all the time. Since you didn't have an account there if they had given you the money and let you walk out then the money was gone never to be seen again. So banks charge non-customers a fee for this service in order to make up for all the forged and stolen checks that get cashed. When you go to your own bank you don't get charged because most people don't cash forged or stolen checks at their own bank, and if they did then they have other money in your account to make up for it. I've been with my bank for over 35 years, yet when I deposit a paper check in my bank account they only release part of the money to me for immediate use and the rest isn't available until the check clears. A bank cashing a check for a non-customer doesn't have that option. I'm actually surprised they would cash it at all.


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Hgarnerno1

Tyler, Texas USA

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Posted: 03/30/12 07:33pm Link  |  Print  |  Notify Moderator

I bet this is one you have never heard before. I recently went to the local WalMart store and got $100 back on my debit card purchase. The cashier only had a $100 bill. She said I could get it broken down at the bank in the store. The teller told me it would cost $3.00 for him to give me change for the $100 bill. Have never heard of this before and told him so. He said it was bank policy if the person did not have an account there. I told him that was a real good way to get new customers.


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MrsSoCalToolGuy

Fountain Valley Ca.

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Posted: 03/30/12 07:01pm Link  |  Print  |  Notify Moderator

coolbreeze01 wrote:

I'll be surprised if anyone here would even pay a nickel to cash a check, let alone try to cash one at a bank they don't use.


We went to the back that the check was written on at the direction of Verizon... It was their check and their bank.

I guess I don't understand what you are saying?

coolbreeze01

Redding, Ca

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Posted: 03/30/12 07:38pm Link  |  Print  |  Notify Moderator

MrsSoCalToolGuy wrote:

coolbreeze01 wrote:

I'll be surprised if anyone here would even pay a nickel to cash a check, let alone try to cash one at a bank they don't use.


We went to the back that the check was written on at the direction of Verizon... It was their check and their bank.

I guess I don't understand what you are saying?


I'm saying I don't know anyone who would pay to cash a check and banks have been charging non-customers for some time, their (the banks) check or not. Sorry for the confusion.

Sportsman2505qss

Winter Springs, Fl USA

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Posted: 03/31/12 06:46am Link  |  Print  |  Notify Moderator

I was in banking for over 20 years and with the bank I did bank at for 24 years. Different names because of buy outs. I always had a loyality to Banks but the best thing after I had trouble is going to a Credit Union. My daughter had a check for 45.00 dollars made out to her and she signed it over to me as I gave her the cash for it and was going to the bank. I was going to deposit it in my account which is joint with my husband that had a balance of over 10,000.00 at the time. They would not take it for deposit and said it was a third party check. I said she also has an account here. Said I couldn't deposit in that account either because she signed it over to me and I signed and put my account number under her signiture. Manager was called and he wouldn't approve it for deposit. I said you see that Credit Union over there, I going there and opening an account. I wrote out a check for 5,000.00 and took the cash to the credit union. Not only were they nice, they took the check for 45.00 for deposit. I am now a Member and not a Customer. The benefits and the way we are treated is outstanding. They helped us get all our direct deposits transfered, they are open late on Friday and also on Saturday. They are busy and the bank across the street empty. The bank's name starts with a B but it's not the best bank in town.


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JALLEN4

Florida

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Posted: 03/31/12 06:57am Link  |  Print  |  Notify Moderator

This credit/debit card thing has really become quite the topic. A person goes to Walmart to make a purchase and essentially puts them in a position of being that persons bank by asking for cash back with their card. Walmart pays the credit card company to process the transaction and is forced to keep on hand additional cash to accommodate these transactions. The public ultimately pays for this expense whether they pay with cash or credit.

The customer receives the money advanced to them by Walmart, at no charge, but does not like the inconvenient form it is in. They then take the money to a bank, not one they are a regular customer of, who pays Walmart to be there. The bank keeps money on hand, buys equipment, and pays personnel to operate their business. The customer assumes it inappropriate for them to charge for any service as mundane as giving change.

The question has to be who should pay for this service? The person using this service or should it be shared by every other customer who is a patron of either entity? Certainly this cost has to be recovered somewhere for either of them to remain viable.

Liriope

Sun City AZ 85351

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Posted: 03/30/12 09:01pm Link  |  Print  |  Notify Moderator

Nothing new. Banks have been charging to cash checks drawn on their bank to people not having an account there for over 30 years. I do not a bank that does not charge for this service. I know all the large banks, Bank of America, Wells Fargo, and Chase Bank all do. msmith1199 gave a good reason for these charges.

I see absolutely nothing wrong with this charge.

Old-Biscuit

Verde Valley

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Posted: 03/30/12 09:32pm Link  |  Print  |  Notify Moderator

Hgarnerno1 wrote:

I bet this is one you have never heard before. I recently went to the local WalMart store and got $100 back on my debit card purchase. The cashier only had a $100 bill. She said I could get it broken down at the bank in the store. The teller told me it would cost $3.00 for him to give me change for the $100 bill. Have never heard of this before and told him so. He said it was bank policy if the person did not have an account there. I told him that was a real good way to get new customers.


Had the exact same thing happen at a Walmart also.
Got $100 cash back......only have $100 bill. Walked over to the 'bank' and asked for $20's. Was going to charge me to swap bills....NOPE!

Sounds like Walmart and the bank are in cahoots. I think it was a Wells Fargo......I think.

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