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I Hate Banks

I don't understand why Banks charge you for using your own money. Credit cards and Loans I understand charging interest on because you are borrowing money that you do not have. But to charge you just for cashing a check or just for using your ATM is ridiculous! I want to open a non-profit Bank!

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vss1234 · 36-40, M

ATM is a service which the bank provides and you can opt out of it. It costs banks to keep the machines running.

Plus the financial system will always charge you when you want physical money, they want people to move away from it. Easy to track and you don't have to print it.

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vss1234 · 36-40, M

@imLobo no one said bank is a charity.. it is a for profit business and they are answerable to their shareholders. And as i said, one can opt out from ATM services!

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vss1234 · 36-40, M

@imLobo I am not sure which law prohibits bank from charging fees for the service they provide. Additionally, the fee structure is disclosed by the bank when you are about to open a new account. If the disclosure did not happen, then it is an issue and a litigation can be filed. But, else it does not seem like the bank is doing anything untoward.

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vss1234 · 36-40, M

@imLobo I never broached the topic of Cheques.. I am only referring to ATM fees. Cheques and their service charges is something I am not well-versed with, so will refrain from commenting. You may be right in this regard.

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vss1234 · 36-40, M

@imLobo hence my earlier comment, which law? Google did not give me an answer, at least for a federal law.

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