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From: rctracy@uokvax.UUCP
Newsgroups: net.flame
Subject: Re: Don't Bank On It - (nf)
Message-ID: <5356@uiucdcs.UUCP>
Date: Fri, 3-Feb-84 23:38:44 EST
Article-I.D.: uiucdcs.5356
Posted: Fri Feb  3 23:38:44 1984
Date-Received: Wed, 8-Feb-84 05:43:37 EST
Lines: 34

#R:uicsl:4300134:uokvax:2200025:000:1657
uokvax!rctracy    Feb  1 18:57:00 1984

I, too, am extremely disgusted with banks.  That's why I now use
savings and loan organizations exclusively.  I realize this isn't
the answer for everyone, especially since many of the larger S & Ls
aspire to become banks someday (else, why would they be jumping on
the bandwagon with outrageous service charges?  I'm talking about
charges such as $7.00/month for balances below $2500, $.20/transaction,
etc., with no distinction made as to whether the transaction is a
debit or a deposit!).  The real kicker is that most such financial
institutions "justify" their service charges by saying that that's
what it costs just to maintain the account, what with the computers
and all.  GRRRRRR!!  I work with computers for a living.  Don't hand
ME that bullshit and expect me to believe it!

My current S & L gives me free checks, pays 5 1/4 % interest each
day during the month that the balance is above $800, doesn't charge
me anything if the balance goes below that figure (they just don't
pay any interest for each day below that amount), doesn't have
any per transaction charges of any kind, allows unlimited withdrawals
(as to the number of them, that is :-), and even returns my processed
checks with the monthly statement.  The only "drawback" (you are
saying, "There had to be a catch...") is that they aren't on any
electronic bank card system, to which I say, BFD.

		"Death to service charges!"
		Bob Tracy
		AT&T Technologies, Inc. -- OKC Works
			(...!ctvax!uok!uokvax!rctracy)

P.S.  There is no such thing as loyalty to a financial institution
where service charges are concerned.  You will note that I said my
"current" savings and loan above!