What fee does your bank charge to cash a check drawn on your bank by someone who is not a customer? What do bank charges have to do with digital media and social media you ask? I want to see if companies really do pay employees to search social media to see what is being said about their companies. Can we as individuals make a difference in how banks and other industries treat their customers? We know in some instances that we do. Bank of America pulled the fee for using its ATM card after customers used social media to protest. The Sun-Sentinel, Miami Herald, and other news outlets have reported on other examples. Let's find out if social media really works.
Here's my story. Today I visited Chase Bank to cash a check drawn on its bank. While waiting in line for the next available teller, I asked if Chase cashed checks drawn on its bank if I didn't have an account there. Yes, I was told, the bank does. When the teller was available to help me, I asked the same question. The teller responded yes, but immediately asked me if I wanted to open an account with Chase. I said no. After the teller asked for identification, fingerprinted my index finger, then started to cash the check, he told me that I needed to pay $27.50. Seriously? Ser-i-o-u-s-l-y! You've got to be kidding I said to the teller. He said no, he was telling the truth. If I wanted to open an account, the charge would be waived. The bank charges 2 percent of the check value to cash a check drawn on its bank, to a non-account holding customer. I was in shock, although with the way banks have been doing business and overcharging customers, I don't know why. I told the teller no thank you and asked for the check back. So, to get my money, I must place the check in my bank account, wait for the check to be processed for the funds to be available, or else pay the fee.
So, is your bank charging fees like this? What do you think of the 2 percent charge? Is that the cost of doing business? Does it cost a bank $27.50 or more, to cash a check? What as customers of banks can we do? I want to see if Chase or other banks will get this message and respond. I am going to send this message to blogs, my classes, and to other social media outlets like Twitter and Facebook. Will you do the same? Can we make a difference? Share this with your contacts to see if businesses really do hear us.
I can understand your frustration Suzanne,
ReplyDeleteThese days folks are getting money from doing all sorts of odd jobs in order to make the most of what is available. I imagine as we get better at our graphic design and media talents we will be taking a few piece work jobs to get practice making blogs, doing social media and helping people with their websites and printing needs.
What you didn't here "in the news" is that Bank of America does not charge ATM fees when you use their debit card/credit cards. The news made it seem as though they were overcharging their customers, when in reality it was just mis-information created by the media to make a point to all of the banks. There is no question that the banks will take what they can, they work full time to make money. It is up to us to work just as hard to keep as much of our money for ourselves.
"a penny for your thoughts" adds up!
see you in class
Thanks for participating and responding to my message. I think Bank of America and others were planning to charge, but the uproar through social media, changed their minds. Go social media!
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