Last week I went to the bank two days in a row and I was taking in everything that I saw. Let me ask the question: Who do banks serve? Are they there to help the consumer or to make more money off of the consumer? Let me recount what I saw.
Day 1: There was a gentleman there and he was attempting to find out what was going on with his account. Clearly he did not know that his account had been overdrawn based on fees and was quite unhappy. Appears that deductions had not come out when they were supposed to and his account was in the negative. The gentleman was continuously shaking his head as in disbelief.
Lesson learned: You must always always check your bank account and stay on top of what you have done when it comes to spending, deposits and deductions made.
Day 2: The twins and I go into the bank there is one man at the window and he is vocal. What is happening with my accounts? The bank is making more money off of me than I am putting in. He has several accounts and I don’t mean 2 or 3, he had many. I heard them say money market account, checking account and savings account. Then they shared with him there is a fee for every time a transaction was made. He said, I am too busy for that to happen. Then he asked the question: Why don’t the bank protect the consumer and contact them and say you know we have a better account for you or something of that nature. Oh, you know that banker could not say anything. I took it in and the teller was clarifying what this customer wanted – ALL ACCOUNTS CLOSED.
Lesson in this one: Know what the bank fees are for the different accounts, the number of transactions you can make prior to any fee being charged, is there a minimum balance required. Also if you are unhappy with your current bank – SHOP around and get what you DESERVE. I’m not for banks making money on their clients but providing inadequate customer service.