🚀 go-pugleaf

From article <38rn73$2mf@crl.crl.com>:

marke@netcom>: Forget those billboard of those happy people who
marke@netcom>: "bank on us."  I hate BofA.  They suck.  Here's why:

marke@netcom>: I've been with Security Pacific for around 8 years. 
marke@netcom>: They have covered checks -- as a courtesy -- for
marke@netcom>: amounts in excess of $100 over my balance.
marke@netcom>: BofA will bounce a check for $.01 over your balance. 
marke@netcom>: Try it if you don't believe me.  I've called them and
marke@netcom>: told them that something screwed up and I would
marke@netcom>: deposit a check in the machine the next day if they
marke@netcom>: would cover a check,  but no dice.  BOUNCE, BOUNCE,
marke@netcom>: BOUNCE.

At most financial institutions this is a branch-by-branch matter;
the Operations Officer (or whatever) at each branch has the
latitude to make decisions based on numerous factors:

	how long your account has been open
	average daily balance
	number of returned items in the last year
	amount/number of items returned today

I had an account at one Wells Fargo Branch for years, and one day
my auto-deposited paycheck didn't show up.  I found out at lunch,
when I went to the ATM, and I had given my landlord my rent check
that morning.  I called customer service from inside the branch and
they told me not to worry, that I had a deposit of approximately X
dollars every other friday for the past Y years, and that they'd
cover the outstanding items.  The also suggested I check with my
boss, to see what happened.

The company (not MEGATEK) had changed banks, and the new bank had
botched the auto-deposit.  They corrected the problem, but not
before the rent check was presented for payment.  Wells not only
paid the check, they waived the service charge.  I still have the
overdraft notice which says,

As of November 15, 1991 your account balance was: $xx.xx.
On this date we received for payment items totaling: $yyyy.yy
We have paid these items, and have waived the usual service
charges.  Please deposit funds to cover the overdraft of: $1061.35
within the next five banking days.

Two years later I moved my account to another branch, closer to my
new home, expecting the same quality of personal service.  I never
got it; so I joined a Credit Union, where I do.

goodrum@crl> Here's a thought - be more responsible and don't write
goodrum@crl> checks you know you can't cover.

goodrum@crl> B of A is like any other capitalistic, money-making
goodrum@crl> enterprise.  If you don't like them, go to another
goodrum@crl> bank.  God knows there are plenty.

Actually, there are fewer every day, as Wells, BofA, and First
Interstate buy them up.  This is a particularly sore subject here,
where San Diego Trust and Savings was just bought by First
Inrestate, which immediately closed many of the branches, and
reduced the joint employment of the newly consolidated bank by
nearly fifty percent.  SDT&S - by the way - was not one of those
fly-by-night, in the red, marginal banks.  FIB bought them because
they were just the opposite, stable and profitable.

Geoff Walton
geoff@megatek.com