ARRRGH! Damn Bankers!!

I am so pissed!  For many years now, banks have been slowly trying to eliminate paper transactions.  Theyve tried not to return my checks with my statements, they process my payments electronically and wont return my checks (and my bank doesnt even get a picture of them) and, according to a manager at my local bank, there’s nothing I can do because the Government supposedly mandates this policy!  My bank manager talked about something called “Check 21” and said that there was nothing I could do…I looked it up and found this LINK .  Personally, I think it stinks.  My checks are my receipts.  How else do I prove my payments?  Im not keen on having to copy whole statements just to prove one payment.

I found a LINK by the Consumers Union which at one time had another link for consumers to take action against Check 21, but it expired.  Dang.  Im not going to let this go however, Im going to see to it that I either get my checks or a substitute (as recommended by Consumers Union) as proof of payment.

Check 21 is just one more way the Bankers make things easy for themselves but not necessarily the consumer.  For example, Check 21 allows banks to process payments electronically, so folks would be well advised to not write checks for funds they dont have in the bank.  WATCH OUT though, the Banks may be processing PAYMENTS faster but they are not under the same obligation to process DEPOSITS faster.  Thats right.  You may put your money in the bank on Wednesday, and think its safe to write a check on Friday, but you may get a nasty surprise.  Consumers Union predicts that the amount of fees and penalties from insufficient funds charges will go up drastically as this method becomes widespread.  Already it is estimated 70% of merchants have the ability to instantly process your payment/debit your account via the electronic payment processing method.

Maybe I’ll go to money orders or get cashiers checks from the bank.  Maybe I’ll go to electronic bill pay (I highly doubt THAT!).  I think in the meantime, I will demand substitute check copies, and if the bank charges too much I’ll switch. Damn bankers anyway.


~ by irishgrl on June 12, 2009.

8 Responses to “ARRRGH! Damn Bankers!!”

  1. …you can prove you write the checks by doing that carbon thing or whatever. My mom used to get those. I think she still uses them, actually, other than she doesn’t write checks often. But you know the things, what they have the little yellow slip what takes what you wrote on the check and puts it on there? That’s your proof that you wrote the check.
    I think this is what you’re talking about, anyway. I don’t deal with banks much, other than my savings account, so I’m not 100% sure what you’re talking about.

  2. nope. I read the statute. the only LEGAL equivalent is a “SUBSTITUTE” CHECK that the Bank generates. According to the Consumers Union, you need to have an account that gives you back substitute checks. and if they charge too much, the advice is to find another bank.

    Ultimately, the rules are NOT written up to protect you or I, BUT THE BANKERS. We need to see to it that our DEPOSITS are credited as fast as our payments. Anything otherwise is HIGHWAY ROBBERY.

  3. Huh. Well that’s stupid. I didn’t even know that the bank would make a fancy copy of it or whatever that proves it.

    And most of the time, the rules are NEVER meant to protect us, but the business. Because the business wants a way to make as much money as possible, yet still trying to make it look like they’re the good guys, helping the consumer.

    Bah, business. Bah, people.
    Gah, frustration.

  4. My mom does the same thing with her backup copy checkbook. I like checks because they offer a paper trail / proof of payment. I’ve paid cash for a copay and library fine, respectively, only to have the amount be outstanding later due to negligence on the part of the doctor’s office and library. Banks are ruthless.

    The latest Miley Cyrus tour has an interesting tack that may be meant to deter ticket brokers reselling seats:

    “The Miley Cyrus tour is a paperless ticketed tour. You will not receive a physical ticket for entry and are required to bring the credit card used to buy your tickets and a government-issued ID to the venue, where your credit card will be swiped to gain you and your party access to the event. If you do not have your credit card and government-issued ID in hand at the event, you will not gain access to the event.”

  5. Think of it, in one fell swoop, she GUARANTEES doubling the size of her audience, the child PLUS the adult! Actually Im beginning to think there’s a method to her madness!

  6. Hello, my name is Roxana and i’m from Romania. I found your blog on Amazon where you post it this:
    ‘sadly, that is no longer an option apparently. I did however find it myself free online and downloaded it. I can share it via zShare file sharing if anyone is interested’ and you were talking here about the song: ‘Kaboyi Kaboyi’ from the mouvie ‘DUMA’ . Do you still have the song? If you do, could you pls send it to me at:
    Thanks so much, i’d be very grateful!!!

  7. Roxana, I would appreciate a reply to let me know you got the audio clip…..its just common courtesy, particularly since I had to re-upload it so you could download it. 😦

  8. I rarely write checks anymore. Most anything can be paid directly to the company online by either electronic transfer or by putting it on a credit card. I have most of my monthly bills set up to be automatically deducted from my bank account or charged to a credit card that I use for bill paying (then I transfer a single amount at the end of the month to pay all the bills on the credit card).

    I have two bank accounts, each at a different bank. One sends me a scanned copy in miniature (like 10 to a page) of each check I have written (I probably don’t write more than 2 a month). The other account I don’t even have checks for — it is used entirely online and with my check-card. Online transactions give a receipt immediately and these should be printed or better yet, copied to a word doc and saved in a file online and then only printed if needed.

    And if you are paying anything at all for your checking account — you are paying too much. Shop around as most banks have free accounts if you keep a minimum balance or have your paycheck direct deposited…. but watch out for the extra fees they can tack on — my one bank does charge me a fee if I make too many ATM withdrawals in a month, so I try to keep those to a minimum.

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