Give me back my service fees
Dear banks of Canada,
I'll bet you think this is pretty funny. I'm sure these debit fees started out seriously enough. One of you got mad and decided to punish the other banks by charging a fee to their customers for the use of your debit machines. Then you all started doing it and the other banks probably sent you a nice thank you card printed on the skin of a homeless person you found in the warm area surrounding the bank machine. You showed that bum.
Then you thought, hey, we got a good thing going here, but why is Royal Bank getting fees from our customers while we're not? So you thought, hey, maybe if we all start charging a service fee for using other people's bank machines, our customers wont run away.
Well think again TD Canada Trust! I'm sick and tired of paying you fees for shit that you imposed indirectly when you started charging members of other banks for using your bank-machines. I'm tired of thinking, why do I bother depositing money that I'm just going to use anyhow? I don't have any savings. What is it that keeps me initialing those awful deposit slips while my balance receeds to zero again and again?
In case you forget, the agreement was this: I let you invest my money; you pay me a small amount of interest. I understand the fee concept. When someone adds value to something I own (for exaple, style to my hair or long-distance service to my phone). But there is nothing you do to my money that I couldn't do myself.
So consider this your final notice: I will no longer deposit any money at your banks. I will keep my money in a shoebox where it belongs.
Your broke acquaintance,
I'll bet you think this is pretty funny. I'm sure these debit fees started out seriously enough. One of you got mad and decided to punish the other banks by charging a fee to their customers for the use of your debit machines. Then you all started doing it and the other banks probably sent you a nice thank you card printed on the skin of a homeless person you found in the warm area surrounding the bank machine. You showed that bum.
Then you thought, hey, we got a good thing going here, but why is Royal Bank getting fees from our customers while we're not? So you thought, hey, maybe if we all start charging a service fee for using other people's bank machines, our customers wont run away.
Well think again TD Canada Trust! I'm sick and tired of paying you fees for shit that you imposed indirectly when you started charging members of other banks for using your bank-machines. I'm tired of thinking, why do I bother depositing money that I'm just going to use anyhow? I don't have any savings. What is it that keeps me initialing those awful deposit slips while my balance receeds to zero again and again?
In case you forget, the agreement was this: I let you invest my money; you pay me a small amount of interest. I understand the fee concept. When someone adds value to something I own (for exaple, style to my hair or long-distance service to my phone). But there is nothing you do to my money that I couldn't do myself.
So consider this your final notice: I will no longer deposit any money at your banks. I will keep my money in a shoebox where it belongs.
Your broke acquaintance,
Dave
posted by David Alexander | 11:59 pm
2 Correspondances:
^^ PC Financial's high interest rates only benefit people with a lot of savings. You have to put your money in a savings account that's less accessible than a regular account (takes like 24 hours to withdraw, as I recall) in order to earn higher interest.
Dave: "But there is nothing you do to my money that I couldn't do myself." Well, no, you can't make $20 bills instantly appear on command, like they can at a bank machine. The only real service they perform for no-savings people like me is keep my money (such as it is) readily accessible in thousands of locations.
Of course, Royal Bank is apparently the only major bank with no ATM on the York U campus, so I'm also pissed. And when you're poor, withdrawing $20 at a not-your-bank ATM can result in a 15% service charge! 7.5% on $40, 5% on $60, etc. Nuts!
I just checked your blogs for the first time in forever, and have stummbeled upon this. I strangely had this exact same thought about this exact same bank about 3 days ago. I am fairly certain I am losing money by keeping it in the bank right now. I beleive this to be highly dumb. However, no shoebox for me, because I have a job and get paid and that needs to go somewhere, or so they tell me. However, I supposed it would be smart to close one of the two different acounts I have open, eh? Ya, that's all.
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