Sometimes it hits you how people make money and you get sick over it. Case in point: I have a special savings account for my older son with money to use for applying to college (e.g. pay for applications, scores to be sent, visiting places, etc.). Like any account these days, it's electronic. It was therefore quite easy and convenient to use direct debit to pay each college and to transfer each score. Then I get a letter from the bank yesterday, which I just opened, that says there is some fine print for this type of account where you can only make six pre-authorized transfers, or be subject to a $15 service fee, which of course means the bank "stole" a huge sum of this college money by simply taking it from the account.
I immediately called the guy who sent the letter who said he was just the messenger and that I needed to talk to the bank manager of where I have my account. I told him screw that. I told him that if you have a regulation like that in your fine print, why the hell don't you program your on-line system to pop-up a warning that proceeding will cost you money? Heck, as the fine print actually says "pre-authorized", which the guy on the phone said means "in-person", why do you even allow electronic access to it? It's because they want people to screw up so they can gouge them.
While writing this the guy called me back to say the bank manager will compromise and give back half the money. I told him that was like asking a private to correct a mess a general had authorized. I told him to talk to someone in upper management and tell him this is why people hate banks and why the Occupy Wall St crowd began, a movement I didn't much care for but now am starting to come around to. The guy on the phone admitted this is a big problem. If you make one simple programming change the problem goes away. But, no, they *want* you to f*ck up since that's a big source of income for them. I said that this goes beyond just giving me back my money. That just helps me. I expect them to change their on-line system to protect others as well.
Supposedly a higher-up is going to call me later.
- Jeff |
