Mature Life Features

. . . much more accommodating

since I put a bar in it,

however,

I keep running out of scotch.

Bank Fees Like Fleas

It used to be that robbers hit the banks for their money. Now, the banks are coming after you for yours. Only it’s not called robbery. It’s called fees.
When banks were deregulated more than a couple of decades ago, they were set free to compete for your dollars.
The lawmakers who lauded their magnanimous act proclaimed that the need to compete for
customers would force banks to improve services for the depositor, lower interest rates for
borrowers, and generally make one’s banking experience more personal and profitable.
What happened was banks began charging fees for services that were free before deregulation.
Make too many deposits in your bank, you could be charged for that. Too many telephone calls? There’s also a fee for that – even if you only get a recording. At many banks, charges vary for talking with a real live person, whether by visiting the building or by telephone.
However, if you don’t use your banking service enough, there’s a “dormancy” fee. Some banks
attach a monthly fee – for using your money – if your account is inactive. This definition varies
from institution to institution so you should ask your bank about its policy. If you find it unsatisfactory, close the account.
Before doing that, however, ask if there’s an account-closing fee. And, before you open an
account at another bank, ask them the same question.
In their campaign to convince you that they’re really doing you a service by closing down a
nearby branch office and making much-less-labor-intense – and therefore less costly – electronic banking available, banks merrily overlook burdening you with bothersome details.
For example, downloading cash from automated teller machines (ATMs) is undoubtedly handy.
In most cases, you’ll get it even if it means you’re overdrawing your account. There’s a fee for
that.
There’s no warning. You won’t know about it until you see your monthly statement.
Banks claim they want you to have the convenience of getting cash as you need and want it. But they don’t warn you that you’re overdrawing. You have to monitor your balance to avoid the overdraft charge.
While we’re on ATMs, it’s wise to use your own bank’s because many financial institutions are
adding their own charges for ATM users who belong to a different bank.
The banks’ back shops are getting better at maximizing charges. They clear your largest checks
first to get the most out of overdraft fees.
Let’s say you have $1,000 in your account and you’ve written three checks – one for $1,100 and
the other two for $150 and $100. The bank most likely will clear the largest check first, charging
an overdraft fee. Then it charges overdraft fees as it clears each of the other two checks that are written on your now-overdrawn account, rather than clear the two smaller checks first and
leaving you with only one overdraft fee