thomsbrain
Lifer
I have news for you. If you want customer service, stay the hell away from HSBC.
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Insufficient Funds??? WTH Bank Of America!!
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Schfifty Five
Lifer
stfu. does it look like I'm the only one who thinks this?
with rates like 3.5 how could you not keep them in CDs??? Even if he got them years ago they were at what, 5%? WOW! You are making a whole ~1.5% above inflation! Thats almost enough to throw a decent celebratory party.
Unless the OP is retired or SERIOUSLY risk averse (tends to follow ignorance) keeping all of it in CDs is quite strange.
If youre going to call me out for a stupid statement please at least do it for a legitimately stupid statement. Otherwise you run the risk of looking like an ignorant asshat.
Capt Caveman
Lifer
Or possibly the OP needs in the money in the short-term thus CDs would be a good short-term vehicle.
Anyway, I found out that BOfA is horrible.
They have always been horrible.
I only have a saving account left to pay my CC and they even tried to screw up on that.
So I use my saving to deposit money and use it to make instant payments to my BOfA CC.
Last month I went there around 4pm and deposited CASH to my savings.
When I got home, I went online and it shows my deposit right away.
So I went ahead and paid my CC with it, saved the reciept and everything.
A week later, I get a letter telling of NSF...I was like WTF !!
So I got dinged with:
1) $35 with the savings acc.
2) $35 with the CC for returned payment.
3) $35 for late payments.
It turned out that if you make a deposit after 2pm, it will get reported the next day(even if you deposit CASH).
- WTF, is this still 1950 ?? Your bank doesn't have the capacity to recognize the deposit right away ??
- If the deposit get reported the next day, why does my online banking shows the available balance right away ??
I mean I couldn't possibly paid my CC is the balance wasn't available to me.
So the lady at the bank told me the theres a glitch with the system.
Another WTF !!! The biggest bank in the US and they can't fix an obvious glitch ??
Of course, I got all of my fees back but it took alot of calls and explaining.
But geezzzz....this bank is obsolutely horrible.
I would advice everyone to do their banking with WAMU.
NO, they don't wait till the next day even if you make your deposit after 2pm.
They also have great rates on their savings account.
I use my WAMU checking to pay for everything.
Its great that I can move my money back and forth instantaneously where as you have to wait 2-3 days if you had your savings elsewhere.
Their rate is at 3.30% and thats pretty much as high as anyone else for savings.
They have always been horrible.
I only have a saving account left to pay my CC and they even tried to screw up on that.
So I use my saving to deposit money and use it to make instant payments to my BOfA CC.
Last month I went there around 4pm and deposited CASH to my savings.
When I got home, I went online and it shows my deposit right away.
So I went ahead and paid my CC with it, saved the reciept and everything.
A week later, I get a letter telling of NSF...I was like WTF !!
So I got dinged with:
1) $35 with the savings acc.
2) $35 with the CC for returned payment.
3) $35 for late payments.
It turned out that if you make a deposit after 2pm, it will get reported the next day(even if you deposit CASH).
- WTF, is this still 1950 ?? Your bank doesn't have the capacity to recognize the deposit right away ??
- If the deposit get reported the next day, why does my online banking shows the available balance right away ??
I mean I couldn't possibly paid my CC is the balance wasn't available to me.
So the lady at the bank told me the theres a glitch with the system.
Another WTF !!! The biggest bank in the US and they can't fix an obvious glitch ??
Of course, I got all of my fees back but it took alot of calls and explaining.
But geezzzz....this bank is obsolutely horrible.
I would advice everyone to do their banking with WAMU.
NO, they don't wait till the next day even if you make your deposit after 2pm.
They also have great rates on their savings account.
I use my WAMU checking to pay for everything.
Its great that I can move my money back and forth instantaneously where as you have to wait 2-3 days if you had your savings elsewhere.
Their rate is at 3.30% and thats pretty much as high as anyone else for savings.
And who said anything about AOR right now ??
That screen shot was when savings was at 5%.
Even now, at 3.3% its still worth doing if you don't mind dinging up your credit for a year.
If I get $100K from my CC at 0% for a year.
Thats $3,300K of interest - misc fees.
~$3K for doing nothing except your scores may drop quite a bit.
I set my account to make automatic payments every month.
And how does inflation affect your decision to do an AOR or not ??
Inflation is always there if you do an AOR or you don't.
If I could somehow upload myself through a USB port and transfer the money electronically myself, I would have no problem doing it "in person"
Unfortunately, HSBC is an online only account, and this is how the funds are transferred to that savings account.
And I still dont get why people are so amazed about someone having $100k in a bank account. I could have easily got that as an equity loan from a bank to do an addition on my house, or could be using it as a down payment for a new house, or a million other reasons. Hell i could have won it in Atlantic City or Vegas or the pick six!! Honestly, it didnt even think about it when I took the screenshot, I dont know why so many people think I purported this whole thing to "show off"
How would I get BofA to hit me with an erroneous NSF fee anyway?? And why would anyone go through the hassle of doing such a thing???
Capt Caveman
Lifer
Not really. Why are billions invested in CDs? Based on the principal amount, a slightly higher interest rate is always welcome.
Over the past year with falling interest rates, locking into a rate in the back then looks a lot smarter than leaving it in money market account this whole time.
I don't think it's too fair to criticize the OP if he really did keep 100K in a CD. For all we know, his net worth could be in the millions, and this would represent a mere fraction of his wealth. I concede that it is unlikely that someone with that much money would post about a $35 fee here.
Suspicious-Teach8788
Lifer
Yup this one time I had to move stuff from my high interest acct to HSBC I moved it through BoA, and I forgot my receipt. My friend snatched it from the ATM to hand to me before yelling "WTF YOu have $64k in your checking acct."
The new ATMs in my area say if you deposit by 8pm the funds will clear same day.
Even if you have the money, having it taken from you for such a stupid reason is enough reason to be pissed off.
I know some of the partners at my firm have tons of money, but they still would be pissed if their wife just upped and decided to spend 35 bucks on a stick of gum.
I don't see why people are so amazed at the amount either. Buying a house, people usually have 10-20% down. True, a lot of people would never see that amount of money in their own accounts, but when there are so many cities in america where the average home price is above a million, its shouldn't be that unusual.
waggy
No Lifer
you would be shocked. i know a few people who have a net worth above $5 million. one guy owned a Honda and Mercades dealership (has far more then 5 million). We went golfing and they messed up on a bill and double charged his CC dor drinks (something like $50). he was ranting all day at the dealership (my dad was running it for him at the time) and on the phone with both the country club and the CC heh.
AccruedExpenditure
Diamond Member
This reminds me of the bling bling biatches thread from 3-4 years ago, lol
Pepsi90919
Lifer
nice ePenis, but i have eleventy billion grand in my account
chuckywang
Lifer
This thread makes me feel financially inferior. 🙁
I do keep all my money in my checking account.
I do keep all my money in my checking account.
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