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PSA: paperless banking is asking to get ripped off

dabuddha

dabuddha

Lifer
2 banks

BB&T: We're still doing paper statements. They changed the terms requiring 5 times the direct deposit to our checking account to keep it free. They claim they sent notice back in June. I never received a letter. They said it was in the statement. I pulled out my copy of the statement from my filing cabinet and it's a 2 sentence blurb stating so on page 6 of the statement (back of the 3rd sheet). Even after telling the bitch on the phone I can change my direct deposit they said they can't and won't refund the $10. Fuck em, will be closing that account tomorrow

M&T bank: Same deal except we were doing the paperless thing. Ended up almost losing $30 on that bullshit. Closed all of our accounts the very next day.

Morale of the story: fuck banks. They will try to rip you off anyway possible. At least doing paper statements causes them to lose a little bit of money and increases the chance you'll catch their "changes" /rant /crawling in my skin
 
I never read my statements anyway, so I'd rather just not have the extra paper.

Oh and I use a credit union. Fuck banks indeed.
 
My bank usually sends me paper notices whenever their policies are going to change. (And I do paperless billing)

Go... Umpqua bank.
 
Real moral of the story: Make the effort to read your paperless statements, every month.

Look for unexpected charges. Look for notices about changes in terms. Balance your paper checkbook or Excel sheet "checkbook" to the penny. If it doesn't match, find the mistake or unexpected charge.
 
Moral of the story should be to read it a lot more often than once a month. Would you let you wife get dicked by your neighbor for a month before checking on her?
 
I always check my charges on each statement which is why I only got charged one time. The well hidden change of terms is my fault since it was technically there but to condone that behavior is just retarded. Also I did get my $30 back from m&t and I will be getting my $10 tomorrow from bb&t.

This is just a heads up for those that aren't aware that some banks are now hiding changes to terms. I've always gotten a separate letter before 🙂
 
Even when you go paperless it seems they find excuses to send stuff in paper form.

Speaking of paperless, this is a rant about most utilities: So I choose paperless, great. WTF do I need to login to your proprietary interface to see my bill? Why don't you just send it to me in my email instead of sending me a notice saying that my bill is ready and me having to login to some interface and have yet another password to keep track of? Is it so hard to send the actual bill in an email? It's *MY* email, if security is an issue it's my responsibility to ensure nobody else is reading my email. A physical mailbox is not any more secure than than email, in fact, it's less secure. It's easier to walk to someone else's mailbox and grab their mail than to hack into an email server.
 
I agree that e-statements make it so very, very easy to overlook a relevant change in terms. I don't like them for that very reason. I know I will read a paper statement more carefully than if I was scrolling down six pages on a screen.
 
Same thing happened to me with Wells Fargo. Closed all of my accounts within the week and moved to a bank that had slightly less retarded policies.
 
I make them send me the paper statements to justify their service charges. Besides, I like having hard copies of stuff in case there is a discrepancy.
 
Havent payed a dime for a either of my checking accounts. Figure I'll return the favor and not waste them the paper to send me something that goes straight into the shredder.

Actually I'm up $250 just for opening a checking and savings account at Chase. Thx again for the free money.
 
RockinZ28 said:
Havent payed a dime for a either of my checking accounts. Figure I'll return the favor and not waste them the paper to send me something that goes straight into the shredder.

Actually I'm up $250 just for opening a checking and savings account at Chase. Thx again for the free money.
Click to expand...

You should close your account with them and go somewhere else. (Preferably a local credit union)
 
My coworker has been dealing with this garbage for 3 month! $5 every month for bank statement even though he's already signed up for paperless. Good thing I only bank with credit union (although, my mortgage is with Wells Fargo - paperless).
 
I read the online statements from my bank for the very reason mentioned in the OP. Haven't gotten screwed yet.
 
DaveSimmons said:
Real moral of the story: Make the effort to read your paperless statements, every month.

Look for unexpected charges. Look for notices about changes in terms. Balance your paper checkbook or Excel sheet "checkbook" to the penny. If it doesn't match, find the mistake or unexpected charge.
Click to expand...

from the "balance the checkbook" thread, it appears nobody reads bank statements.
 
TridenT said:
You should close your account with them and go somewhere else. (Preferably a local credit union)
Click to expand...

What would the benefit be?

Have multiple cc's through both banks, easy to pay them off online. I go into a bank like once a year, handle everything online.
 
Companies such as banks and insurance companies are like fertilizer for greed since their business model is to receive money from their customers in return for nothing only to find ways to con the customers out of giving it back when they ask.
 
dabuddha said:
2 banks

BB&T: We're still doing paper statements. They changed the terms requiring 5 times the direct deposit to our checking account to keep it free. They claim they sent notice back in June. I never received a letter. They said it was in the statement. I pulled out my copy of the statement from my filing cabinet and it's a 2 sentence blurb stating so on page 6 of the statement (back of the 3rd sheet). Even after telling the bitch on the phone I can change my direct deposit they said they can't and won't refund the $10. Fuck em, will be closing that account tomorrow

M&T bank: Same deal except we were doing the paperless thing. Ended up almost losing $30 on that bullshit. Closed all of our accounts the very next day.

Morale of the story: fuck banks. They will try to rip you off anyway possible. At least doing paper statements causes them to lose a little bit of money and increases the chance you'll catch their "changes" /rant /crawling in my skin
Click to expand...


Probably has been said, but neither of these things have anything to do with paperless.
 
OutHouse said:
banks never give shit out for free, care to post a link to your claim? i would love to read the fine print.
Click to expand...

Look on slickdeals.net. Currently $200 to open a Chase checking acct.

I got $125 for opening a checking account ober a year ago, just needed a direct deposit within 10 days.

Another $125 or so for opening a savings account. Needed $10k at opening. Got the $125 within a couple days, transferred $9.7k back to different account. Just leave $300 in there so there are no account fees, then close after 6 months.
 
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