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View Diary: The bank said 'You'll be back.' (549 comments)

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  •  4 good questions to ask (15+ / 0-)

    1. I'm interviewing _ local banks. Why should I choose your bank? (This one was incredibly revealing.)

    2. Do you practice "stacking"? (Stacking is when several items are posted to your account on the same day, creating an overdraft, they clear the most expensive item first, so they can bounce all the other items and charge you for each item.) The answer you want is that items are cleared in the order they are received.

    3. When you reconcile my account each day, which do you post first: DEPOSITS or DEBITS? (If you ever run short, even if you deposit cash the same day to cover everything, if they post debits first, you'll be overdrawn and charged.) The answer you want is that they post deposits first, then debits.

    4. Are you planning on implementing a monthly charge for debit card usage? (This one may not be as relevant, as BofA has dropped this and other banks may follow suit. I was shocked that two of our local banks, including the CU, was doing this.)

    Hope this helps!

    Henry's Healthy Pets-All-natural nutrition for hamster, rats, mice, squirrels and flyers.

    by deerskie on Fri Nov 04, 2011 at 07:27:27 PM PDT

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