http://blog.prudentmoney.com/2009/07/15/how-banks-are-ripping-you-off-in-the-name-of-convenience/ No hype. No agenda. Just financial information from a Christian perspective. Thu, 29 Jul 2010 17:42:13 -0400 http://wordpress.org/?v=2.8 hourly 1 http://blog.prudentmoney.com/2009/07/15/how-banks-are-ripping-you-off-in-the-name-of-convenience/comment-page-1/#comment-3871 Investor Relations Services Wed, 10 Feb 2010 05:10:45 +0000 http://blog.prudentmoney.com/?p=2188#comment-3871 I found your blog on google and read a few of your other posts. I just added you to my Google News Reader. Keep up the fantastic work Look forward to reading more from you in the future. I found your blog on google and read a few of your other posts. I just added you to my Google News Reader. Keep up the fantastic work Look forward to reading more from you in the future.

]]> http://blog.prudentmoney.com/2009/07/15/how-banks-are-ripping-you-off-in-the-name-of-convenience/comment-page-1/#comment-3249 Chase Picks Up The Tab By Sticking It To The Retailer « Deceptive Money Tue, 10 Nov 2009 16:52:50 +0000 http://blog.prudentmoney.com/?p=2188#comment-3249 [...] transactions to pay first to rack up the most fees. By the way, this was proven to happen in a special report by USA [...] [...] transactions to pay first to rack up the most fees. By the way, this was proven to happen in a special report by USA [...]

]]> http://blog.prudentmoney.com/2009/07/15/how-banks-are-ripping-you-off-in-the-name-of-convenience/comment-page-1/#comment-3248 Chase Picks Up The Tab By Sticking It To The Retailer | Bob Brooks - Prudent Money Blog Tue, 10 Nov 2009 16:47:08 +0000 http://blog.prudentmoney.com/?p=2188#comment-3248 [...] transactions to pay first to rack up the most fees. By the way, this was proven to happen in a special report by USA [...] [...] transactions to pay first to rack up the most fees. By the way, this was proven to happen in a special report by USA [...]

]]> http://blog.prudentmoney.com/2009/07/15/how-banks-are-ripping-you-off-in-the-name-of-convenience/comment-page-1/#comment-2833 Why Banks Want You to Use Debit Cards « Deceptive Money Mon, 24 Aug 2009 18:47:44 +0000 http://blog.prudentmoney.com/?p=2188#comment-2833 [...] Consumer, that is typically the culprit the majority of the time in overdrafts. As I wrote about in this article, 81% of banks now allow you to go over your limit with overdraft protection. In other words, they [...] [...] Consumer, that is typically the culprit the majority of the time in overdrafts. As I wrote about in this article, 81% of banks now allow you to go over your limit with overdraft protection. In other words, they [...]

]]> http://blog.prudentmoney.com/2009/07/15/how-banks-are-ripping-you-off-in-the-name-of-convenience/comment-page-1/#comment-2699 JT Thu, 16 Jul 2009 14:34:39 +0000 http://blog.prudentmoney.com/?p=2188#comment-2699 I also love what they are doing with interest rates. My mutual fund money market account is down to 0% and then they take fees, but my credit card rates have gone from 7.9% fixed to over 14% with a variable rate! Thank goodness I am not carrying any balances! These are short term solutions by the banks that will change the consumers for a generation and the banks ulitmately will have to reduce their profit expectations in the future and make some painful decisions that they don't want to make right now. Everyone other than a mortgage and may be a car note is going to have to PAYGO. I also love what they are doing with interest rates. My mutual fund money market account is down to 0% and then they take fees, but my credit card rates have gone from 7.9% fixed to over 14% with a variable rate! Thank goodness I am not carrying any balances! These are short term solutions by the banks that will change the consumers for a generation and the banks ulitmately will have to reduce their profit expectations in the future and make some painful decisions that they don’t want to make right now. Everyone other than a mortgage and may be a car note is going to have to PAYGO.

]]> http://blog.prudentmoney.com/2009/07/15/how-banks-are-ripping-you-off-in-the-name-of-convenience/comment-page-1/#comment-2695 Cash Wed, 15 Jul 2009 16:47:39 +0000 http://blog.prudentmoney.com/?p=2188#comment-2695 A few years back, I talked to an employee of a start-up bank that stated "their business plan was to attract as many apartment-dwellers as possible, just so this bank would make money off of the overdraft fees." Like you've stated before, many marketing plans are based on the likelihood of human error. A few years back, I talked to an employee of a start-up bank that stated “their business plan was to attract as many apartment-dwellers as possible, just so this bank would make money off of the overdraft fees.” Like you’ve stated before, many marketing plans are based on the likelihood of human error.

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