When BOA starts running out of ways to add fees....

[IceBergSLiM]

beginning in September cashing BOA checks issued from a business checking account will cost you $6.00 if you do not have relationship with BOA.

This applies to CT, MA, NH, VT, ME, NY and Delaware.

BOA blazing trails for scammers and thieves everywhere.

 

[AccruedExpenditure]

WTF!!! LINK!

 

[Vette73]

Then cash them in your account. They are doing you a service and as such charge for it. How is this a problem?

 

[IceBergSLiM]

I got a flyer this morning when I cashed my check but you can also read it here:

http://www.capecodtoday.com/bl...or-non-cust-1?blog=158

 

[skace]

Maybe you should just get a BOA account.

 

[mugs]

Deposit the check in your own account.

 

[AccruedExpenditure]

I'm having a hard time believing this... Are there any more reliable sources? Sounds like a snopes type rumor

 

[Demon-Xanth]

Originally posted by: Marlin1975
Then cash them in your account. They are doing you a service and as such charge for it. How is this a problem?

Say you're someone without a bank account, an employer gives you a check to pay you...

...BOA is charging to get that check cashed. They're basically charging to honor their customer's check. The person cashing it isn't a customer, it's a debtor to the bank.

 

[child of wonder]

Originally posted by: skace
Maybe you should just get a BOA account.

Exactly.... just deposit the paycheck then immediately withdraw it and deposit it somewhere else.

Go to the branch manager's office, take a long sniff of the money, then let them know they can't have it and thanks for keeping your checking account open that you will always keep at a $0 balance.

 

[IceBergSLiM]

Originally posted by: Marlin1975
Then cash them in your account. They are doing you a service and as such charge for it. How is this a problem?

Why should I have to have a bank account to cash a check? A check is a monetary instrument used as an equivalent to cash. It doesn't say pay to the order of but deduct a fee on the check
it just say pay to the order of.

so the poor guy making minimum wage has to use an hour of labor just to get paid.

 

[IceBergSLiM]

Originally posted by: AccruedExpenditure
I'm having a hard time believing this... Are there any more reliable sources? Sounds like a snopes type rumor

the teller handed me the flyer today. it is very real.

 

[IceBergSLiM]

Originally posted by: Demon-Xanth

Originally posted by: Marlin1975
Then cash them in your account. They are doing you a service and as such charge for it. How is this a problem?

Say you're someone without a bank account, an employer gives you a check to pay you...

...BOA is charging to get that check cashed. They're basically charging to honor their customer's check. The person cashing it isn't a customer, it's a debtor to the bank.

exactly.

 

[Vette73]

Originally posted by: IcebergSlim

Originally posted by: Marlin1975
Then cash them in your account. They are doing you a service and as such charge for it. How is this a problem?

Why should I have to have a bank account to cash a check? A check is a monetary instrument used as an equivalent to cash. It doesn't say pay to the order of but deduct a fee on the check
it just say pay to the order of.

so the poor guy making minimum wage has to use an hour of labor just to get paid.

No he/she puts it in their account and/or demands cash instead of a check. Don't have a account then open one, they are free at just about all banks now.

How hard is this to understand? Don't like it then don;t accept checks from people with BoA accounts. Tell them cash only and see how that works for ya.

 

[Ns1]

yeah I'm just gonna go ahead and deposit it into my wamu account.

 

[IceBergSLiM]

I wonder how long until the class action lawsuit.

 

[child of wonder]

Originally posted by: IcebergSlim

Originally posted by: Marlin1975
Then cash them in your account. They are doing you a service and as such charge for it. How is this a problem?

Why should I have to have a bank account to cash a check? A check is a monetary instrument used as an equivalent to cash. It doesn't say pay to the order of but deduct a fee on the check
it just say pay to the order of.

so the poor guy making minimum wage has to use an hour of labor just to get paid.

I disagree with these ridiculous bank fees, but what's stopping the minimum wage guy from opening a checking account with any bank and depositing it there?

Maybe the fact that he uses cash only is part of the reason he is a minimum wage guy?

 

[Vette73]

Originally posted by: IcebergSlim
I wonder how long until the class action lawsuit.

For what? they are not breakign any laws/rules i know of.

Grow up and welcome to the real world.

 

[AccruedExpenditure]

Wait, so if I deposit my BoA check at another bank will I be charged 6 dollars? If not I don't care.
-AE

 

[IceBergSLiM]

Originally posted by: AccruedExpenditure
Wait, so if I deposit my BoA check at another bank will I be charged 6 dollars? If not I don't care.
-AE

just for cashing BOA checks at BOA branches if you don't have a BOA relationship.

 

[ICRS]

Originally posted by: mugs
Deposit the check in your own account.

Woops NVM,

Also I realized this doens't apply to Cali, so who cares.

 

[EagleKeeper]

It is intended to be an incentive to keep the money within the bank.

Also, if when you have an acocunt, then you can use the ATM and also reduce personal costs.

 

[mugs]

Originally posted by: IcebergSlim

Originally posted by: Marlin1975
Then cash them in your account. They are doing you a service and as such charge for it. How is this a problem?

Why should I have to have a bank account to cash a check? A check is a monetary instrument used as an equivalent to cash. It doesn't say pay to the order of but deduct a fee on the check
it just say pay to the order of.

so the poor guy making minimum wage has to use an hour of labor just to get paid.

No, the poor guy making minimum wage can get a free bank account the same as the rest of us.

 

[Anubis]

i really dont have an issue with this

 

[IceBergSLiM]

Originally posted by: Marlin1975

Originally posted by: IcebergSlim
I wonder how long until the class action lawsuit.

For what? they are not breakign any laws/rules i know of.

Grow up and welcome to the real world.

in the real world they were already sued and they settled out of court in california. google "Bank of America Settles California Check-Cashing Case"

the reason they are doing it only in these few states is probably because IT IS ILLEGAL in the others.

 

[AccruedExpenditure]

Originally posted by: IcebergSlim

Originally posted by: AccruedExpenditure
Wait, so if I deposit my BoA check at another bank will I be charged 6 dollars? If not I don't care.
-AE

just for cashing BOA checks at BOA branches if you don't have a BOA relationship.

In that case get a Checking account
-AE