Another bank rant...

[BigToque]

I got charged $10 to receive a wire transfer!

It's one thing to charge to send money (which costs $45!), but to be charged to have money automatically put in my account is fscking insane! Do I get charged to have someone come to the bank and deposit money into my accont using a teller? Nope. But I get charged to have nobody do any work at all.

I HATE CIBC WITH A PASSION! I hope their banks all get robbed or hit with a nuke or something.

 

[gigapet]

so can i wire you 5 cents repeatedly until your account is drained?

 

[BigToque]

Originally posted by: gigapet
so can i wire you 5 cents repeatedly until your account is drained?

I doubt they would stop you...

 

[User1001]

Wire him 5 lehras repeatedly

 

[farmercal]

And to think I complained when one of my Credit Unions charged me $9 to transfer funds to my other credit union. I though they were ripping me off until I read your post. Thanks, I feel better now.

 

[RossMAN]

Most banks and CU's charge for incoming wire transfers because of fees to connect to the FED and SWIFT lines.

 

[isekii]

My bank charges 8 for wire transfers.

 

[gigapet]

Originally posted by: RossMAN
Most banks and CU's charge for incoming wire transfers because of fees to connect to the FED and SWIFT lines.

Cant they use some of the millions they are making from us letting them invest our money in the first place?

 

[Jzero]

I hate places that charge for wire transfers. Merril Lynch wanted $30 to wire me an IRA distribution. $30?! Give me a break. I bet it costs them MORE in time and manpower to mail me a check, but that's what they're going to do, then.

 

[RossMAN]

Originally posted by: gigapet

Originally posted by: RossMAN
Most banks and CU's charge for incoming wire transfers because of fees to connect to the FED and SWIFT lines.

Cant they use some of the millions they are making from us letting them invest our money in the first place?

Banks generate considerable (millions) revenue from fees alone. The numbers are staggering.

That's why I prefer local CU's over large corporate banks, although I work for one 🙂

 

[krunchykrome]

Originally posted by: Stefan
I got charged $10 to receive a wire transfer!

It's one thing to charge to send money (which costs $45!), but to be charged to have money automatically put in my account is fscking insane! Do I get charged to have someone come to the bank and deposit money into my accont using a teller? Nope. But I get charged to have nobody do any work at all.

I HATE CIBC WITH A PASSION! I hope their banks all get robbed or hit with a nuke or something.

Wire transfers have fees on both sides, the sender and the receiver.

 

[Mr N8]

I work for a small local bank, and we charge nothing for incoming wires, but $15 - $25 for outgoing.

 

[gigapet]

Originally posted by: RossMAN

Originally posted by: gigapet

Originally posted by: RossMAN
Most banks and CU's charge for incoming wire transfers because of fees to connect to the FED and SWIFT lines.

Cant they use some of the millions they are making from us letting them invest our money in the first place?

Banks generate considerable (millions) revenue from fees alone. The numbers are staggering.

That's why I prefer local CU's over large corporate banks, although I work for one 🙂

banks should be capped on the profit they make per account.....cuz its out of hand......its gonna make more snese pretty soon to keep whatever inst in the stock market underneatht he mattress so to speak

 

[RossMAN]

Originally posted by: gigapet

Originally posted by: RossMAN

Originally posted by: gigapet

Originally posted by: RossMAN
Most banks and CU's charge for incoming wire transfers because of fees to connect to the FED and SWIFT lines.

Cant they use some of the millions they are making from us letting them invest our money in the first place?

Banks generate considerable (millions) revenue from fees alone. The numbers are staggering.

That's why I prefer local CU's over large corporate banks, although I work for one 🙂

banks should be capped on the profit they make per account.....cuz its out of hand......its gonna make more snese pretty soon to keep whatever inst in the stock market underneatht he mattress so to speak

It's only going to get worse. There are some high level merger discussions going on right now.

The 3 largest "mega" banks are just HUGE
CitiBank + Chase + BOFA = banking regulation nightmare.

 

[gigapet]

Originally posted by: RossMAN

Originally posted by: gigapet

Originally posted by: RossMAN

Originally posted by: gigapet

Originally posted by: RossMAN
Most banks and CU's charge for incoming wire transfers because of fees to connect to the FED and SWIFT lines.

Cant they use some of the millions they are making from us letting them invest our money in the first place?

Banks generate considerable (millions) revenue from fees alone. The numbers are staggering.

That's why I prefer local CU's over large corporate banks, although I work for one 🙂

banks should be capped on the profit they make per account.....cuz its out of hand......its gonna make more snese pretty soon to keep whatever inst in the stock market underneatht he mattress so to speak

It's only going to get worse. There are some high level merger discussions going on right now.

The 3 largest "mega" banks are just HUGE
CitiBank + Chase + BOFA = banking regulation nightmare.

its too close to my weekend for me to get started on a rant about the banking system....and how its the sole reason for the existence of debt, wars, depressions, recessions..........ahhhhhhhhhhhhhhhgggggggggggghhh

 

Standard stuff here.