Evil Bank Issues

[Clodfobble]

Major banks are a scam, all of them. (But especially Bank of America, in my experience...) Credit Unions and very small banks are the only way to go.

[BigV]

Originally Posted by Clodfobble

Major banks are a scam, all of them. (But especially Bank of America, in my experience...) Credit Unions and very small banks are the only way to go.

Perfect.

I, too, urge you to join a credit union, immediately.

[richlevy]

See here for the appropriate Federal Reserve regulation. Local and non-local may refer to Federal Reserve district. The Philadelphia Fed is district 3. The district number will show on your check.

Basically, with rate margins being so low, banks two major sources of income are fees and float.

When 'Check 21' went into effect, it streamlined check processing, but the older float periods were kept in place.

(b) Local checks and certain other checks. Except as provided in paragraphs (d), (e), and (f) of this section, a depository bank shall make funds deposited in an account by a check available for withdrawal not later than the second business day following the banking day on which funds are deposited, in the case of—
(1) A local check;

(c) Nonlocal checks —(1) In general. Except as provided in paragraphs (d), (e), and (f) of this section, a depositary bank shall make funds deposited in an account by a check available for withdrawal not later than the fifth business day following the banking day on which funds are deposited, in the case of—
(i) A nonlocal check; and

[footfootfoot]

Originally Posted by BigV

I, too, urge you to join a credit union, immediately,kick them in the cunt, and use the spank ray.

Fixed it for ya.:p

[xoxoxoBruce]

Citizens Bank.
Deposited an out of state check for $18,600, cleared in one day.
Deposited an in state check for $25,000, cleared in one day.


Oh, the VP of my credit union was indicted for making over 100, $20,000 loans to unqualified people, for a 10% kickback.

[jinx]

I've never had any major problems with our credit union - but they did shut down my debit/credit card like 3 times last holiday season because of my unusual spending. Yeah, christmas shopping. Never occurred to them.

[Pico and ME]

Originally Posted by jinx

I've never had any major problems with our credit union - but they did shut down my debit/credit card like 3 times last holiday season because of my unusual spending. Yeah, christmas shopping. Never occurred to them.

My credit union shut mine down because I had shopped at TJ Max and their credit card record security had been breached. Good for them BUT I WISH THEY HAD HAD THE DECENCY TO TELL ME FIRST! Because it was a Friday night, I had to wait all weekend before I could contact the bank. I was pretty stressed.