Coming to a bank near you? -.25% interest rates

[Chuck1981]

Originally Posted by goofin

Banks and credit unions already limit you at atm's. mine lets me take 400 bucks a day out.

Not to be a smartass, but isn't that so one person doesn't clean out the ATM first thing in the morning? I may be wrong, But I think you could hit one ATM after another (Vegas/AC anyone?) until you reach your 0 balance, well I guess unless your checking account has systems set up to stop that also, but that's a different story.

[goofin]

Originally Posted by Chuck1981

Not to be a smartass, but isn't that so one person doesn't clean out the ATM first thing in the morning? I may be wrong, But I think you could hit one ATM after another (Vegas/AC anyone?) until you reach your 0 balance, well I guess unless your checking account has systems set up to stop that also, but that's a different story.

thats not being a smart ass. yes it is for protection but its one of the things i do not like about it. i can go in and withdraw as much as i want(as long as its mine) i have no limit on a purchase, but limited on cash withdraws at a atm. it can be a pain.

[Warpt762x39]

Originally Posted by Chuck1981

Point being, I think the Banking system (namely the Fed) and the Government need a complete overhaul, not "the market".

How bout a clean sweep of anyone and everyone currently serving in any elected position or the position given to them by an elected official?

Too many of the same idiots have been screwing us for too long. They play around with regulation and crap like that then blame someone else when it all goes to hell.

Not just smaller government but one that'll stay that way and stay the hell out of our lives and our wallets.

[Morel42]

Originally Posted by goofin

thats not being a smart ass. yes it is for protection but its one of the things i do not like about it. i can go in and withdraw as much as i want(as long as its mine) i have no limit on a purchase, but limited on cash withdraws at a atm. it can be a pain.

Most banks will allow you to increase your daily limit by signing a wavier and other forms..

It's so someone doesn't withdraw your entire balance if they get your card and pin number somehow..

[camper]

Originally Posted by goofin

thats not being a smart ass. yes it is for protection but its one of the things i do not like about it. i can go in and withdraw as much as i want(as long as its mine) i have no limit on a purchase, but limited on cash withdraws at a atm. it can be a pain.

But you could also walk into the branch office and take out as much money as you like with no penalty and no surcharge. You could get a $1,000 deposit every single day, and withdrawl $900 every single day if you liked, with no extra 'fee' to do so. Very different from the european model as discussed, where you have to 'pay' if you take out more than you're allottment per year.

camper

[jmiro]

Hell my checking gives me 3% if i make 11 purchases with my debit card. If they charge me to keep money in a bank I will resort back to checks and a coffee can buried in the back yard.

[Morel42]

Originally Posted by jmiro

Hell my checking gives me 3% if i make 11 purchases with my debit card. If they charge me to keep money in a bank I will resort back to checks and a coffee can buried in the back yard.

Quakertown National has a 4% interest bearing checking account... With no fees, and they don't charge you when you use other bank's ATM machines..

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[MikeB0]

Everyone does realize that the bank in the OP is a Central bank, and not a normal bank that the public would use?

There seems to be some confusion about whether they reduced the rate .25% to .25% or reduced it to -.25%. The article says both.

Regardless, what appears to be happening is that this Central bank gave out money to real banks so they could make loans, in order to prevent the real banks from just redepositing the money they lowered the rate to encourage the banks to make loans with the money distributed.

Stupidity in my opinion. Governments should only have minimal control over banks and should not try to "drive" economies. That said, I think the issue with this bank is being overhyped, this is not a normal bank doing this. This is unlikely to come to your neighborhood bank anytime.

[Posit]

Agree. This is 4 pages of chest beating, threatening and b***hing over a non issue.

[MikeB0]

Originally Posted by Posit

Agree. This is 4 pages of chest beating, threatening and b***hing over a non issue.

Well this is an internet forum, isn't that the definition of one?