If Banks Would ...

Discussion in Bank Accounts started by MrsJones • Jan 10, 2016.

  1. MrsJones

    MrsJonesActive Member

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    If banks would implement a suggestion that you made what would your suggestion be?
    I would suggest to find a way to avoid charging me a NSF fee and then reverse it because the money is in the account. This has happened to me a couple of times. With all the technology of computers talking to computer or programs talking to programs, it seems like this transaction could have been avoided. I was very confused to say the least.
     
  2. MyDigitalpoint

    MyDigitalpointActive Member

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    I would suggest them let people make their own decisions on security matters.

    I understand that they want to keep safe all accounts and access to their system, but it's annoying that to make an online transfer they request the use of an electronic token, which is free with some accounts/banks but costly to pay in some others, where their workaround is having you downloading an Android/iOS application to make the transfer but...

    What if you don't have an Android/iOS device? Why not better a PC-based software like that? Similarly, while they suggest what not to use as a password, I found ridiculous to enforce intricate passwords that must have lowercase/uppercase, numbers, and yet symbols.

    Personally I found truly hard to remember a password sequence including all that, and if I have to jot it down to remember, hence their perception of security is absurd; no one online may decipher the password, but it might be found for someone if you put it into a paper.
     
  3. Corzhens

    CorzhensWell-Known Member

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    In the issue of ATM withdrawals, I would suggest for banks to remove the withdrawal fee when you withdraw from an ATM of another bank. Right now there is a minimal fee charged. I find it inconvenient for some people to avoid paying a withdrawal fee so they take time to find an ATM of their bank. And since the banks are earning good from ATM transactions, I guess it is only fair to remove such extra charges and allow clients to withdraw from any ATM connected to their bank.
     
  4. sidney

    sidneyWell-Known Member

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    My bank charges a withdrawal fee even on their own ATM's, which I think is quite clever in making more profit. I also would want those interbranch deposit fees waived, since some banks do not charge them at all.
     
  5. Lushlala

    LushlalaWell-Known Member

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    Some of the more irksome conditions I see here in Botswana were never an issue in the UK. The thing that bugs me more than anything is having to pay for internet banking here. I can't get my head around paying the bank a hefty monthly fee for that when in actual fact I'm helping them reduce their in-bank work load, especially because over here you still get very long queues of people who are still resistant to online banking. In my honest opinion, they ought to charge those people who prefer to go in instead hehe
     
  6. Onionman

    OnionmanActive Member

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    A lot of my issues relate to having to pay for the fact that banks are not more interconnected. In other words, having to pay for certain types of transfers between banks or banks between different countries. Realistically, it doesn't cost banks much at all to do the processing these days. We're just stuck with antiquated fee structures that allow them to still get away with these kind of things. Remove or reduce some of these stupid fees and I'd be a lot happier.
     
  7. xTinx

    xTinxWell-Known Member

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    Can't there be a one-day processing time for PayPal and other online payment money transfers? I don't understand the 2-3 days (5 days if you include weekends) clearing period. And I agree with @Onionman@Onionman. It's just the banks imposing a rigid fee structure. They could do away with unnecessary and time-consuming processes. They're not the government, for crying out loud.
     
  8. Diane Lane

    Diane LaneWell-Known Member

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    Good grief, I totally agree with @xTinx@xTinx. I find it so annoying for the transfers to take 3-5 days. That is a ridiculous time frame in 2016. The last time I had a refund that went from PayPal to my bank, though (ugh, related to an accidental one touch purchase transaction), it only took one day. That's the only time I've seen it processed so quickly. I think perhaps I caught it just at the right time, so the transfer was still in its infancy, and hadn't made it all of the way through the process, which would have probably delayed it by several days.

    My suggestion would be to not structure payments so that they would result in the largest number of overdraft fees. We all know they're doing it, and they've been caught and told not to do it, yet they persist. Apparently it's more profitable to do it that way and collect tons of fees, even with the resulting class action lawsuits, than simply processing transactions in the order in which they're received. I don't see a difference between this type of behavior and fraud, and it's a major turn off to customers.
     
  9. atlmom5

    atlmom5Active Member

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    Yesssss!!! What is with the long processing time with PayPal and the likes? In my opinion, PayPal has been around long enough to make the processing time faster, but what do I know?
     
  10. Happyflowerlady

    HappyflowerladyWell-Known Member

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    I actually have no issues with my bank, which is a Credit Union rather than a bank. When I use my debit card, it is at a store and I am buying something, so there is never any charge for using it, and most stores will also give you cash back when you are buying something and paying for it with the debit card.
    Other than that, I don't use an ATM at all; so for me it is not an issue; but I can see how it could be one if you needed to get more cash all at once than you would be able to get at a store.
    I also use Paypal; but I have the Paypal debit card, and I don't even bother to transfer money from there into my regular checking account. I have my regular small payments coming out of there, plus anything that I buy from eBay, and you can also use the Paypal card anywhere, just like any other debit card.
     
  11. Pat

    PatWell-Known Member

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    I agree that the charges I have to pay if I withdraw money from the ATM other than the bank I belong to is one of the issues I have and the other is you can't get less than $20 from the ATM, there are times I need money but what I have in the bank at the moment is lower than $20 so I can't get to my money.
     
  12. MrsJones

    MrsJonesActive Member

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    Yea, only multiples of $20. At one time you could withdraw multiples of $5 or just five dollars alone from an ATM. Now you'd be lucky to find any ATM that will do that.

    I'm with a credit union too. They have limited ATM transactions and a fee if you go over the limit or use an out of network location. I like using my debit card now more than the ATM if I need extra cash because there is no fees but I do wonder how long before that will change in the future.
     
    #12Mar 15, 2016
    Last edited by a moderator: Mar 16, 2016
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