American Morning
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October 28th, 2009
10:24 AM ET
Nickel & Dimed: How to protect yourself from bank fees
It's hard to do without a credit card or banking account, but the costs of those products – what you pay in fees – may be more than you bargained for.
CNN's Gerri Willis is kicking off our new series "Nickel and Dimed" this morning.
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I don't pay fees because I keep enough money in my accounts to cover the charges. Yes, bank fees are outrageous. Yes, they should not honor the charge if there's not enough money in the account. However, almost every business establishment clearly posts that (at least) a $25 charge with be imposed for bounced checks. So, if you had to pay them for your insufficent funds, are the businesses of origin to blame too? Where does it stop? There must be some personal responsibility. It's not the bank's job to give you free money. They are doing you a service by processing your transaction and paying the business of origin. Be an informed consumer on their fees and don't fall prey to them. If all else fails, pay cash.
Capital One raised my interest 2 times in the past 4 months for NO reason... never a late payment.... They are raping cardholders.... & people complain that payday loans are bad? Wells Fargo rearrange my purchases to post a larger one first so that 4 smaller couple dollar ones overdrafted & they charged me $35 fee on a $2.00 purchase... It's TIME TO REVOLT!
Take your money out of a bank and join a credit union!!!
Of course, that's if you have any money, here in MI nobody does. If they did, they would fill up their gas tanks and drive out here!
Nickle and dimed to death. What I am worried about is the people now in control of our government nickle and dimeing me to death. Higher taxes, taxes and calling them fees, etc. etc. etc. The banks are just rookies compared to our current tax tax tax and tax government.