Bank Managers

[gturner]

I opened this thread expecting to see an image of a large scphincter!

I banked with a crowd from the age of 12 through varsity and into early adult life without a hassle. I had one month were the company I worked for had an issue with pay cheques and I had a cheque bounce. It was the first issue I had ever had, completely not my fault and completely unexpected, but they let the dogs loose on me. Cancelled my cheque book, cancelled the facility I had, even though it was not overdrawn. I was humiliated and spitting mad, but without the ammo to fight back.

A few years ao I started my own business and the cash flow improved significantly. I was suddenly invited in to Bank HQ to meet my personal private banker & business team.
Went in, had a nice coffee and cake in the boardroom, listened to their presentation about how much they love me and how they are going to have all their smartest folk at my disposal. After the hour long dog and pony show, they got up to shake hands and slap their chubby thighs at securing the business. I stood up, shook their hands, then reminded them of the incident 10 years ago and informed that they my accounts will be closed by the end of the day and they will never see me, my company or my money ever again.
Jaws on the floor stuff.... one of my greatest private moments in life!!

[AndCity]

Gt - how totally awesome! Wouldn't we all love to have that experience!

[PowerPix]

You never get a phone call saying what a great customer you are, you always pay on time, dadadada, BUT overdraw and you will most certainly get a phone call immediately!!!!!

[elvenprincessjo]

Originally Posted by Rolling Stone

I'm a cash man.
No worries.
Just my way of sticking it to the man. ; )

Me too... Well, woman. But yeah.

[kirbinster]

Well I guess the banks need someone to stand up for them, so I will take a shot. A bank is a business and is not in business to act as your mommy. When you open an account you have a legal obligation to only write checks that you can cover. In most places you can go to jail for writing checks (or making debit purchases) that you can't cover. To protect you from that banks give you overdraft protection and charge for it. If you don't like that then go to a bank that will let you waive that protection - they will just bounce your checks and let you risk jail.

I also agree with the first bank manager, no matter how old he might be, you should do a better job managing your money. How can you let an account get to zero and then write checks against it -- that is very irresponsible. Its similar to going to shoot a wedding and then finding you did not bring any memory cards for your camera. Stop whining and pay your debts.

[Digidave]

I was wondering when someone was finally going to take the other side. Banks are not all bad. They are a business you know. Do you all think you are the only ones that bounced a check? How long would a bank stay in business if they just "Let it slide"?

Now, having said that, I'll share my story. Pretty funny when I look back at it.

When I was growing up in a small town I could go down to the bank & get what they called a "Bank Note". You could get them for 30,60,or 90 days. You just had to pay it back within the time frame & they would tack on a small fee. Once I moved out on my own I left that bank for one that would be more convenient. Big name with branches all over the place. I got myself in a bit of a jam & could not make the rent payment. So I went down to the bank & asked for a 60 day Bank Note. I took along proof in writing that I would be receiving a check for $1800 in about 40 days. When I talked to the girl at the counter, she looked at me like I was nuts! She had no idea what a Bank Note was. Never heard of it. She sent me to a manager who also had never heard of such a thing. Long story short, they said they could give me a loan. I said okay, what are the requirements? Minimum of $1000 loan & you need an equal amount in an account or CD. What the heck would I need a loan for if I had that much sitting in an account!! The only other alternative was to apply for a credit card & get a cash advance. Well, having no credit rating, that was out of the question. I was so mad I asked to have my accounts closed & to give me all my money now!!!

I took my $13.64 & walked out feeling proud! I stuck to "The Man"!!

Hey, what can I say! I was young!

[gturner]

Originally Posted by kirbinster

Well I guess the banks need someone to stand up for them, so I will take a shot. A bank is a business and is not in business to act as your mommy. When you open an account you have a legal obligation to only write checks that you can cover. In most places you can go to jail for writing checks (or making debit purchases) that you can't cover. To protect you from that banks give you overdraft protection and charge for it. If you don't like that then go to a bank that will let you waive that protection - they will just bounce your checks and let you risk jail.

I also agree with the first bank manager, no matter how old he might be, you should do a better job managing your money. How can you let an account get to zero and then write checks against it -- that is very irresponsible. Its similar to going to shoot a wedding and then finding you did not bring any memory cards for your camera. Stop whining and pay your debts.

I agree with almost every part of what you post.
What you neglect to add is that banks market themselves are your best pal and when a small hurdle pops up they savage you.As they say, banks will give you an umbrella when its sunny and will take it away the moment the rain arrives.

A little consistency and little less of the large corporation attitude would go a long way. In my case they had been hurt at all and the correction was made 2 days later, yet their computers and clerks just saw red flags.

A necessary evil, but very useful if you know how to work with them

[AndCity]

I agree with you, I should've managed my account better but it was a genuine mistake for going overdrawn which I covered as soon as I realised... but I object to the 28 times more charge I received.

And what I said about the the manager telling me to manage it better, it was just a pop at managers being so young or me getting older!

[JFSanders]

A necessary evil

Banks are neither necessary nor required for just about anything. I have payed cash ever since I have had my first job at the age of 8 years old. I payed cash for my first house and every house there after. It is called discipline. Do you realize the amount of labor you have to do to pay the interest on your average mortgage? 100k house over 30years at 5% will result in you paying the lender 93,000.00 dollars in interest payment. You will almost pay double! And that is at 5% at your average C/C rate the interest amount is INSANE. $442,000.00 Dollars