Tag: banking

Thistdaz Wandering Thoughts

I’m on vacation. Away from home. Know what that means? Of course, you immediately reply, “It means that your bank will no longer recognize your computer.”

I wanted to ensure certain deposits had been received. They were due from the Federal gubmint. Due to my distrust of this current direction of said gubmint, I just decided to allay concerns, log on, and check them.

“We don’t recognize this device,” the bank’s website exclaimed. “We want to send you a code to your email address attached to this account. Enter the code here.”

Sigh. Okay. I’ve been through this sock hop before. Go log into the account, which is actually my wife’s account. Can you guess what happened?

“We don’t recognize this device,” the email’s website exclaimed. “We want to send you a code to your other email address you listed. Enter the code here.”

Oh, bother. Logged into the other email account, which is also my wife’s. Note: all this was being done in the name of the joint account which we designate as belonging to my wife.

“”We don’t recognize this device,” the email’s website exclaimed. “We want to send you a code to your other email address you listed. Enter the code here.”

GRRRRR and double-GRRRRR. Screw it, I told The Neurons. This will wait until I get home next week.

Just another first world rant.

I’m off for coffee.

0

PINs & Passwords

PINs and passwords are integral to first world life. Friends and I discussed how we manage our passwords and PINs. All that caused me to think and smile.

There’s an article out there about ‘things our children wouldn’t know about’ because whatever it was is now obsolete. Telephone party lines, rolodexes, TV ‘rabbit ears’ and outdoor antennas, carbon copy or carbon paper, and those sort of things. I was thinking of the reverse mode, and how astonished our children might be that we had no PINs and passwords when I was growing up in the 1950s to mid-1970s. We never had to figure out and remember a magical combination of letters, numbers and ‘special characters’ to get in and out of our online accounts. Number one, we didn’t have online accounts. We lacked the Internet and home computers. Now, there’s a PIN to learn to use a bathroom. Another PIN to access my voice mail. A different PIN to use my credit card, depending on the card reader, and to withdraw money.

I wonder, though, how many years it’ll be until the next generation is amused with our tales of PINs & Passwords and our explanations for how they were used.

4

Notice

It’s just another sign about how little Republicans care about Americans.

Senate Overturns Rule Limiting Bank Overdraft Fees to $5

The Senate voted Thursday to strike down a rule capping most bank overdraft fees at $5, a measure adopted late last year by the Consumer Financial Protection Bureau that had been expected to save Americans billions of dollars per year.

The rule would have limited the fees banks and credit unions could charge when customers spend more than they have in their accounts, typically $35 per overdraft. The bureau estimated it would save American households $5 billion a year. It was immediately challenged in court by banking trade groups.

Democrats are preparing to fight the resolution in the House, where they hope the slim Republican majority will work in their favor.

Call your representatives in Congress. Let them know that this is not okay. Banks make enough profits. They don’t need more.

0

And Another Thing

Someone asked me if I could tell them where there’s an “ATM machine” nearby. 

WTF? Really? What do you think that M in ATM stands for? Money?

That kicked in a memory stream. I remember when ATMs first came out.

Yes, I am that old, children.

(I also remember when cable sprawl began, and when we started having color televisions, microwaves, and all the kinds of satellite things we now have. Get over it.)

We thought ATMs were great. Before them, you had to park, go inside, get in line, and take care of business, or drive into a line, if there were drive-through tellers, wait, and take care of business. Whichever option you chose, waiting was involved.

There was a forty dollar limit on what we could withdraw from ATMs back then. Forty dollars was a lot more money in that era. A tank of gas cost me less than ten, or maybe just over ten, dollars. Coffee – hello? – was a dollar a cup. Believe it, children.

Banks touted ATMs as a wonderful invention. It would save them so much money, and they would pass all those savings on to you through increased interest rates on your accounts and certificates of deposit. You could get your money from any ATM. Isn’t that great? Yes, it was wonderful!

Then, the banks and credit unions started complaining about the unanticipated costs. There were lines at the ATMs because there were longer lines in the bank, because they’d cut back on tellers to reduce overhead. The number of ATM transactions started to be capped. Going over that number meant you’d be penalized.

Then came the networks. Networks were formed to share the costs and reduce the burdens – for the financial institutions. What it meant for you was that if an ATM wasn’t in your network, you’d be charged for the luxury of using that machine to access your money. Piss me off?

You betcha. We were always wandering around towns, looking for ATMs and asking, “Is that one in our network?” Everyone had their eyes peeled for ATMs, crying out, “There’s one!” Then we’d aim the car that way. Yes, children, this was before ATMs came to be in other businesses, or stores. This was also before debit cards.

The ATMs typically had a list of networks that the institution belonged to. You’d need to figure out if one of those networks included your institution. If you couldn’t find one, you could be charged, with good ol’ Bank of America (who else, right?) leading the way in outrageous fees. Eventually, the banks and credit unions were forced to warn you if you were going to be charged, and accept that fee before going on.

Of course, the reverse of this was not having ATMs, but depending on your bank and credit union by writing checks, or going in, standing in the lobby for a while, and withdrawing some funds. That wasn’t fun, either.

So, even with my complaints (I am Michael, hear me complain), the ATMs are a lot better than the way it was. Just remember to heed the unspoken warning, “User beware.”

2

Blog at WordPress.com.

Up ↑