Yea I know, forgot the dumb smiley :^).
John
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Yea I know, forgot the dumb smiley :^).
John
Please note that my return address is wrong due to the amount of junk email I get. So please respond to this message through the newsgroup.
so what you two are really saying is that they're apples and oranges but two apples of different colors.
john
Please note that my return address is wrong due to the amount of junk email I get. So please respond to this message through the newsgroup.
I hope you closed the account. The manager did nothing until more than two parents showed up? Who in their right mind would continue to deal with someone like that?
Good on Ruth and you. I hope you can find a way to make the lesson stick for her now that she has her money back.
A couple years back I decided to help my kid learn a lesson about slots while on the Nova Scotia Ferry. Problem was, she was up $75 within 15 minutes. Then she quit (good for her). We spent the next hour watching people as they got frustrated. The lesson did not turn out how I had planned and I hope the looks on the faces of the little old ladies over ruled the $75.
Parenting. You take your best shots and pray it all works out.
So now she has learned multiple lessons. Beware of bankers, read the fine print, stay on top of your statements and stand up for what is right. Good Job. You know teaching her to stand up for what is right could get her in trouble in the future :^).
John
Please note that my return address is wrong due to the amount of junk email I get. So please respond to this message through the newsgroup.
You do have to be careful which lessons you teach. When my son was 6 I took him down to the pond and baited a hook on a cane pole for him. On the first cast he pulled out a nice size bream. He now has more gear than Bill Dance and Roland Martin put together.
The other mistake was at 12 years old show> A couple years back I decided to help my kid learn a lesson about slots
LOL. A dangerous mob. I'm suprised the manager didn't call out the riot police. Serves him right, he was lucky to have escaped without being put in the town stocks....
Jim
================================================== please reply to: JRR(zero) at yktvmv (dot) vnet (dot) ibm (dot) com ==================================================
Not knowing much of nothing about banking I rely on my wife who has worked for years in the places and she tells me that in most cases the following would apply - Every savings account at every bank she has dealt with sends savings account statements quarterly. No activity (in most places for one year) makes it a dormant account, that's when they usually start taking out a fee, called by different names in different places. They tell you this at the get go but most folks aren't paying attention so's they many times suggest putting in at least a dollar every year on your birthday, that being an easy to remember date. Again, most people aren't paying attention. YOU are still responsible to know and understand these things, and hopefully impart that knowledge to your young uns. Or you can remain blissfully ignorant, and claim victimhood at every percieved injustice. I think the lesson you taught your daughter is that she doesn't have to pay attention to the rules, and when you don't like the result, throw a fit and everything will be OK.
JTMcC.
Take the money and run.
See! There really is a difference between bankers and loan sharks! ;-)
Cheers Trevor Jones
Damn, I hate this. I agree totally.
IMO this is a short-cut to a visit by the local police. Because the bank is private property, you could be viewed as creating a disturbance and the local cops would be justified in ushering you out. Or worse.
If you want to do any yelling like that it is much better to do it in the press. Because of our first amendment rights to publish information like this, when it's true, the bank has absolutely no recourse to anything printed in a local paper.
Indeed I think you could stand on the sidewalk in front of the bank, on your soapbox, and harangue them all day long.
Best if you bring along the other eight disgrungled patrons to join you. But then, it sounds like things have turned out for the best, for all parties concerned.
Jim
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John T. McCracken wrote: > I think the lesson you taught your daughter is that she > doesn't have to pay attention to the rules, and when you don't like > the result, throw a fit and everything will be OK.
Actually, based on the questions she was asking me this morning about how banks make money, I think she may be considering studing banking and finance. :-)
Bankers get nervous when a mob starts to form.
Gary
Hell yeah. It probably looks like easy money.
I'd charge it back to the employer. If they didn't pay, I'd walk.
My employer has direct deposit, and most people use it. I'm one of a very few who get a check. My supervisor asked me one day why I dd not want direct deposit. I showed him the statement on the form (which comes with every check I got) for signing up for direct deposit. By signing the form I also am allowing my employer to remove money from my account to. I believe that most people do not know that the company has the authority to remove money from there accounts. If the company will not give me the authority to remove money from there accounts, I don't see why I should give the authority to remove it from my account.
V> I'd charge it back to the employer. If they didn't pay, I'd walk. >
I managed to get my former owner's bank to effectively waive the fee. When asked 'do you have a account at this bank?' I replied "no, buy my employer does." Implying that if they forced the fee on me, I would have to go back and re-negotiate with my employer.
Because I am a local citizen and do other business with that bank, they decided to let it slide.
Jim
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Hell, all you have to do nowadays is get a bunch of your friends (and what engenders friendship more, than realizing that you and seven others have kids who have been rooked out of their savings...) to simply line up in front of the bank doors, on the sidewalk.
*That* makes bankers nervous.Jim
================================================== please reply to: JRR(zero) at yktvmv (dot) vnet (dot) ibm (dot) com ==================================================
Remember,
"The big print giveth and the fine print taketh away..."
Teach Ruth to use the ING bank, they're still paying 1.8% on savings as I write this. FDIC insured, no fees, no minimums. Best if you have available a checking account with a local bank you can run the deposits and withdrawals through. See:
Case in point:
About fifteen years ago the small local bank holding our home equity loan (with a variable interest rate linked to the prime rate) was taken over by what went on to become the largest bank in New England. The "new" bank sent us a nice letter about the takeover and included a disclosure about the terms for our loan which included the words,"the daily interest rate will be the current prime annual rate plus 2%, divided by the number of days in the year". That made sense.
When we got our first loan statement from our "new" bank the annual rate was stated on it and (just because I'm that kind of guy) I ran the numbers through a calculator and found that they'd gotten the daily interest rate by dividing that annual rate by 365, but it happened to be a *leap year*, so the daily interest rate they applied was slightly higher (366/365 ??) than what the disclosure had promised. It made a difference of maybe a buck and a half in the interest we got charged that month. Clearly, whoever wrote their software wasn't considering leap years, nor dd the person who wrote that disclosure statement.
For the heck of it I called the bank about it and was told, "Questions of that type must be directed in writing to Mr. X". I did that, and received a written answer from him attempting to explain that I was wrong, using math that was so screwed up that I didn't know whether he was a sharpie trying to BS me or an asshole being serious----but I was leaning towards the latter. I wrote him back, telling him that with all due respect to his exalted position with the bank, if I were a high school math teacher and he was my student, I would have flunked his efforts to show me I was wrong.
I went on to say that since he hadn't satisfactorily answered my question I was elevating it from an inquiry to a demand that they adjust the interest they charged me to what it should have been per their disclosure, and if they didn't do that I was going to contact our state's banking commissioner.about it.
I got a letter back within a week, over Mr. X's signature, but clearly written by someone much smarter than him. It apologized for the bank's error and assured me a credit would issue on my next statement, which it did. Also on that statement was a printed message stating that there had been a "system error", which was being corrected by the credit on the statement. It went on to say that beginning the next month, "daily interest will be calculated based on a 365 day year, regardless of the actual days in that year."
I asked around and found out that notice and credit went out on the statements to other home equity loan customers. That must have cost them quite a few bucks, which they probably could have avoided if Mr. X had been smart enough to understand what I was asking him about and just apologize to me for the misleading disclosure statement. I would have been satisfied with that and shut up about paying a few "extra" bucks interest that year.
I said goodnight to Pancho Sanza and went to bed.
Before you bother telling me, I *am* aware that some banks consider a year as having less than 365 days for the purpose of calculating daily interest. I think 360 is a popular number for this sort of chiseling shenanigance.
Jeff
Sometimes I think creative book-keeping must be the second oldest profession.
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