Shoppingjeannie's Blog

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Bank Of America and Their Customers

So in light of the legislation that stopped banks from profiting (and yes that’s all it was pure profit for them) from retailers getting paid via bank cards now Bank of America is going to charge their customers a monthly fee for that same service.

First let me say, banks already make tons of profit from taking the total money we all put into their institutions and loaning it out to individuals and or businesses. They take our collective accounts and turn around and make loans on those funds (which is not in writing for banking customers to agree to so how this is legal is beyond me) and the money via interest rates that they make on those loans is pure profit.

Now they also previously charged retailers a fee based on their monthly sales from bank cards or credit cards. Those fees were based on their total sales for the month. Now that they are no longer allowed to charge retailers those fees, them intend to make them up by charging their customers a monthly fee for using our own money to pay for items we want. Who are they to tell us we have to pay them for the right to use OUR MONEY that we already worked so hard for? Who are they to tell us that they are going to keep paying those high executive salaries but we have to pay more to use our own money that we worked so hard for?

Banks here is my question to you all: who do you think you are to forget why you exist and what keeps you in business? You have forgotten that customers entrusting you with their paychecks is what keeps you going.

We are not Bank of America customers but I can assure you that we will be checking with our bank to see if they intend to start any similar policy and if they are going to do that we will be moving all of our accounts. We will not tolerate “the banks” to run our lives by charging us to use our money.

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October 6, 2011 - Posted by | Life

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