My bank doesn't charge me any fees unless I happen to overdraw my account. That hasn't happened in a very long time. This is not a rant about my bank. This is just a general, that doesn't seem fair, kind of rant.
I was given a check the other day to reimburse me for some expenses I'd had in caring for someone. Since that person doesn't bank at my bank, I went to their bank to cash the check. I needed to have the cash immediately (long, boring story).
First of all, I had to go into the bank. Minor irritation because it was really cold but I can understand the reasons they have non-members come in to a teller.
When I got to the counter, I saw the sign that said I would have to pay a $3 fee to have the check cashed. The sign stated that checks over $100 would be assessed this fee. So, I could have had the check writer make out two checks (more work for her and the teller) and not pay the fee.
This is what irritates me: By cashing the check, they are performing a service for their customer. They are also making an impression on a potential new customer. This was not a good impression.
I could understand charging a fee for cashing a check from another bank. I could understand charging a fee if I was asking them to make out a cashier's check or a money order for me, a non-member. I wasn't. I brought a check from one of their members into their bank and wished to exchange it for cash.
So, I've wasted a lot of mental energy being irritated at a bank over three, measley dollars. The thing is, it's not just that three dollars. It's a combination of random taxes and surcharges and handling fees and delivery fees and activation fees and more all tacked on to the price of an item or service.
I don't like it. I don't like it one, little bit.
EDIT/ADD: I've decided to find a friend who banks at that bank. I will give them $100 and ask them to let me fill out 50 checks, each for $2.00. Then, I will go stand in line, wait, and hand the checks to the teller. I think I just found my vindictive bone.
2 comments:
I can just see you standing in line with a stack of $2 checks. Hilarious!
OK, here's the deal. I'll get an account soon so you can know it's me. Despite the fact that you wanted to about slap me down for my comment about shopping carts, I have to agree here.
I mean, you are cashing a check for around $100 and getting put back $3. Let's assume it's $200. In that case, you are getting hit for 1.5% straight up, which when you compare it to the current 10 year T bill yield of abount 4.7%, you are getting jacked up. Of course, you are kinda screwed because you have to deal with a bank not of your own choosing.
If you can help it, minding the P's and Q's of all your transactions can make a big difference. A lot of people say, "well it's only a few dollars," but a few dollars in an account that only makes 2-4% a year is a big hit. A penny saved is a penny earned, as our forefather (and mack daddy pimp) Ben Franklin said.
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