I am so fed up with banks in the USA that I want to stop using them. You certainly can’t use a bank for savings as they pay a whopping 1% interest … if you can find it! Some give you less than .06% return and that is a joke! They charge you for everything including the right to have a checking account. Some banks charge as much as $15 per month in service fees … for doing what a bank should do!

A bank will nail you for NSF charges even if you make a deposit the same day. I had a bank … I maybe shouldn’t mention their name but they are a bank in the Tampa Bay “REGION” … charge me a $35 NSF charge when I made a deposit that same afternoon. They said the NSF transaction came across the computer a few hours before I made the deposit and they couldn’t do anything about it. It didn’t matter that the check that put my account in the red was a monthly automatic withdrawal that came in a day early due to a holiday and my account was only $8.50 overdrawn.

Why do banks put holds on deposits? In today’s computer world they know right away if a check is good or bad and if there is money in the account. Do they get to use the money for 1-3 days and pay no interest? When I write a check the funds are taken out right away … I don’t get a 1-3 days grace period.

I also have an account in a different bank (one that is named after a deep hole in the ground filled with water & a city in North Dakota) and I was shocked when I deposited $500 cash into my account. The teller made me show her my driver’s license before she would put MY CASH INTO MY OWN ACCOUNT! Say What??? I was upset and confused! I went online and found out this is a new law as of May 2018 and banks are saying they are trying to reduce criminal activity. Wait a damn minute … I had to sign up for my account and give the bank all my personal information just to open my account. Now they are saying their customers are potential criminals? I can’t put cash into my account without showing my ID?

At this bank (with a stage coach logo) the only people who can make a cash deposit is the account holder or somebody who is an authorized signer. You can’t even put cash into a family member’s account unless you are an authorized signer. Think about it … if your son is away in college and he needs money, you CANNOT go to the bank and put cash into his account unless you are a signer on that account.

I don’t even want to get into the headaches, problems and red tape banks put you through if you want a house loan. I recently refinanced my house but told my two banks to “shove it” and got my loan through a funding company. Banks are great if you have a credit score of 780+, have a debt ratio under 25%, have $100,000+ equity in your home and a perfect payment record. Yes, then you can re-fi, get an equity loan or a new mortgage.

I played the refinance game for 90 days, filled out a million forms, sent in records, copied tax returns and jumped through hoops only to be told my debt ratio was too high. I’ve been with this bank for over 20 years and all I wanted to do was refinance my house loan … a loan this bank had for over 15 years. I was never late on payments and the refi would reduce my monthly payments by $550. If I always made the higher payment on time, why wouldn’t I make a lower payment on time … no matter what my debt ratio was? Needless-to-say I got my loan elsewhere and I have pulled all my accounts from this bank.

I’ve come to the conclusion that it might be better to pay my bills with money orders, save my money with some type of insurance policy or annuity (or even keep it at home in a safe) and don’t use banks at all. Take a look at every downtown skyline and tell me what you see. All the high rise buildings are bank buildings. They make millions in profits and have been taking advantage of the public for years and I’m ready to quit.

Years ago your banker helped you build your business and cared about you as a person. Today you are account #123456789 and rules are followed to the letter. No more “good customer” discounts or “personal service”. You are just another customer … nothing more, nothing less. Your past history or bank loyalty means nothing. Yes … All banks suck!