Grrr.... Banks....

[Nemo128]

So a few weeks back, I got a notice that my account at Huntington Bank had been overdrawn $60 from speedway. I figured this was just a place holder, as some gas stations will do that.

Turns out it wasn't. So I filed a dispute. The bank eventually came back siding with the station. I didn't really understand, since my card had been deactivated before the charge was made, due to the fact that they had sent out new cards to several customers.

PIN or Visa/MC transaction? Either way, you contact Speedway directly and demand a receipt for that charge, IN WRITING. If they can't provide one, get written documentation of that, and present it to your bank. Without a receipt, there was no transaction, and the bank can't side with them no matter what. Lack of cooperation from the bank will present other options for escalation. Eating the charge is the worst thing you can do.

I had a bad run-in with my bank also... the teller gave me the wrong account number (someone elses, to be exact)... and this was the account number I put on my tax refund for direct deposit!!!

Keep a direct deposit form on hand. All banks have them to supply to customers for their employers, to begin DD of their paychecks. Have one handy with your proper account info and refer to it when necessary. And of course as someone else mentioned, double and triple check your numbers before using them.

We're currently looking into a variable mortgage rate because our current mortgage is at 5.24% and the variable rate as of today is 3.05%.

No matter how good the rate looks, as soon as the fixed low term is over, they are going to jack it up to unreasonable levels. That's a big part of the overall economic problem we are faced with today. ARMs got rate jacked beyond reason when their fixed terms expired. Consider the risk. Fixed rates are as low as 4.5% right now. If you really think you can axe the loan balance before the fixed term is over, by all means do it, but tread lightly in such risky waters.

 

[lsiberian]

We're currently looking into a variable mortgage rate because our current mortgage is at 5.24% and the variable rate as of today is 3.05%. However we were told that any restructuring to our current mortgage we'd be subjected to a $7062.00 penalty...but at the end of the term, we'd be ahead a few G's.... . I hate Banks and Insurance companies equally and today only helped to reassured my feeling.

Regards, Bill oh.. BTW how did the date work out?

I suggest you focus your attention on paying down your mortgage early rather than refinancing. Even 100 dollars extra can half the time you make house payments.

 

[billy p]

I suggest you focus your attention on paying down your mortgage early rather than refinancing. Even 100 dollars extra can half the time you make house payments.

We've done exactly that. What really galls me is last month the bank we deal with had a slightly higher rate, but the penalty was half that amount. The mortgage specialist had informed us that the rates could drop further and we should check back with them later. They never mentioned the probability of the penalty doubling and that's what took the wind out of our sails.

PS: I'm the glass is half full kind of guy, but some people really p... m. ..f

Thanks again, Bill

 

[MatthewB.]

I normally try to be cordial when I call or speak with somebody who represenst a company, but if I raise my voice it's becuase they are are in error and if I found out they tacked on a extra fee because I was upset, then God help them, because I would immediatly be contacting the states Attorney General and raising bloody hell. I understand that mistakes happen, but if I call all cordial I expect the person on the phone to try and figure out what went wrong and do their damndest to fix it and make me a happy camper. I pay my credit card yearly usage fee and they also get interest off me whenever I do keep a balance, so if they screw up, they better be throwing rose pedals at my feet and begging forgiveness. But I feel for my CC to suspend my account when they were the ones in error and then tell me there is nothing they can do till I send them more money. Oh hell yeah heads are gonna roll then to have a "supervisor" put me on indifinate hold because he didn't want to admit they were the ones to F' up is unacceptable. It's times like this I wish I knew the company president.

 

[MatthewB.]

In my life, I have had to file a complaint with the Attorney General's office about 6 times and I find it ironic how after you file, the president of the company will contact you kissing your keister and throwing swag at you to keep you happy. It's at that point that I get real verbal and will tell the president who said what, why I had to file based on what was said and done and that I want that persons head on a stick. I know for a fact that one "supervisor" got fired after my complaint. Do I feel guilty he lost his job. Not one iota, every person who works in a company should always remember that they represent that company and that the customer is always right, and if a mistake is made that person should try his hardest to make things right and if they can't than they need to apologize and figure out a solution that makes both parties happy. I am finding more and more companies who forget it's their customers who keep them in business.

 

[Wafflesomd]

I got everything sorted out. They even refunded enough fines to bring the total to $150, so I was left with $50+ in my account.

The employees at the branch are f'ing useless.

 

[annunaki]

We're currently looking into a variable mortgage rate because our current mortgage is at 5.24% and the variable rate as of today is 3.05%. However we were told that any restructuring to our current mortgage we'd be subjected to a $7062.00 penalty...but at the end of the term, we'd be ahead a few G's.... . I hate Banks and Insurance companies equally and today only helped to reassured my feeling.

Regards, Bill oh.. BTW how did the date work out?

I would not blame the bank on that one. Pre-payment penalties are a separate form you sign in mortgage documents. If you signed it, you agreed to it. If you did not read it, it is your fault.

There is so much disclosure and coverage of such things with mortgages it is sick. When people claim that there needs to be more regulation, they need to regulate where they are getting their information and what comes out of their mouth.

Sorry if it sounds mean, but it is the truth. A mortgage is a big deal and most likely the largest single financial transaction an individual encounters in their lifetime. Too many people are always claiming they are victims, but many are in fact victims of their own laziness and lack of self education regarding a huge financial transaction.

I am not saying this is the case with you by any means.

It is just a frustrating topic for me and anyone else that uses common sense when it comes to financial transactions.

...End rant

 

[Sheep]

"the customer is always right."

To a point. In the Automotive service industry, no ****ing way.

SheepStar

 

[MatthewB.]

Sheep, you are correct with the automotive industry. My brother is lead meachanic for a caddy dealership. What irks me is the fact they use those outdated evaluation books that claim it takes 3 hours to diagnose a problem, yet all they do now is hook up a computer which diagnosis the problem in one minute. Yet the consumer has to pay for three hours of diagnosis. Granted I understand the computer cost money, the tech training is worth money, but there should be a small fee, but nothing compared to a couple hundred per customer a couple times a day. Heck I work as a tech in a hopsital and went through 6 years of college and I don't even come close to making what mechanics make per hour. heck I would love to make a few hundred just hooking up a lead to somebodys chest and diagnosing a problem.

 

[Sheep]

Sheep, you are correct with the automotive industry. My brother is lead meachanic for a caddy dealership. What irks me is the fact they use those outdated evaluation books that claim it takes 3 hours to diagnose a problem, yet all they do now is hook up a computer which diagnosis the problem in one minute. Yet the consumer has to pay for three hours of diagnosis. Granted I understand the computer cost money, the tech training is worth money, but there should be a small fee, but nothing compared to a couple hundred per customer a couple times a day. Heck I work as a tech in a hopsital and went through 6 years of college and I don't even come close to making what mechanics make per hour. heck I would love to make a few hundred just hooking up a lead to somebodys chest and diagnosing a problem.

Our dealership (Lexus) doesn't work like that. Diagnostics is usually straight time, and the repair has a book value. Also, hooking up a computer only tells you an answer if there is a CEL (Check Engine Light). If it's a noise, or some alteration in vehicle operation, you need to get dirty and find the problem.

Lastly, CEL lights just tell you wants screwing up, not how. We get lots of CELs regarding rats eating the wires until the intake manifold on the RX350 (1st gen), but the code on the computer is not "broken wire due to rat". It's just "blank is manfunctioning/Error". Like if someone had a certain symptom (fever). It could be linked to many different disorders, or just a fever. Gotta do the work to find the answer.

SheepStar

 

[Nemo128]

A mortgage is a big deal and most likely the largest single financial transaction an individual encounters in their lifetime.

I think marriage is a larger one... at least you might get a return on your investment with a mortgage...

 

[MatthewB.]

Nemo, LMAO, thanks that was funny.

 

[lsiberian]

I think marriage is a larger one... at least you might get a return on your investment with a mortgage...

Dunno I'm marrying a woman with more cash than me. I think that's a bigger return.