How do you manage your checking account?

[Asher]

My bank doesn't charge me fees. My canadian one, yes, but not the one here.

You can order cheques for free? There's no minimum balance for interest on savings accounts or for waiving of fees? Card replacements are free? Money transfers are free?

If your bank offers all of that, good for you. There's not a single one in Canada that will offer that, except for the online ones. Which bank do you use?

There's these things called ATMs. Do they have them in Canada? You can even deposit checks in them.

How exactly do you think online banking works? I use ATMs to deposit and withdraw money. I can use any CIBC machine without any fees at all, and no limits.

Uh, sure.

I do it all the time. You'll find, Ben, that when you have money and multiple accounts, moving it around becomes an important activity.

No fees on my account. As for moving money around, I do that once a month. No need to do so more often.

I get paid every two weeks and I've got other expenses. I leave money in high-interest accounts for as long as possible, then move it when needed to the chequing account. Additionally, the interest I get on my savings accounts with my online bank is multiples higher than that of the brick-and-mortar banks (1.5 vs 0.4%).

[Ben Kenobi]

You can order cheques for free? There's no minimum balance for interest on savings accounts or for waiving of fees? Card replacements are free? Money transfers are free?

Transfers are the only thing with a fee. Most of that is because of Canada not them. I'm with Wells Fargo here.

How exactly do you think online banking works? I use ATMs to deposit and withdraw money. I can use any CIBC machine without any fees at all, and no limits.

Same with me and the Royal Bank. They don't cooperate well with Wells Fargo though.

I do it all the time. You'll find, Ben, that when you have money and multiple accounts, moving it around becomes an important activity.

Oh sure, just I don't see the need to do this more then once or twice a month.

I get paid every two weeks and I've got other expenses. I leave money in high-interest accounts for as long as possible, then move it when needed to the chequing account. Additionally, the interest I get on my savings accounts with my online bank is multiples higher than that of the brick-and-mortar banks (1.5 vs 0.4%).

Well why didn't you say so in the first place. That's a good reason. I just keep about a month's worth of expenses in savings which my card can get at and the rest in checking.

[rah]

The only reason I keep a paper ledger is to check against mistakes by the bank and hacking from the outside. In only takes a few minutes a month so its that big of a deal.
Almost all my transactions are online except for cash from ATM, and a few checks a year. (to pay for sports pools with buds)

[MrFun]

In all my teenage and adult years, with all the banks I've been with, none of them have ever made a mistake.

[Al B. Sure!]

In all my teenage and adult years, with all the banks I've been with, none of them have ever made a mistake.

Even after two weeks working at a bank, I can tell you first-hand, don't be so sure.


Oh and depositing (especially cash) into ATMs is definitely not fool-proof.

[giblets]

Even after two weeks working at a bank, I can tell you first-hand, don't be so sure.

Are you saying you're prone to making mistakes?

[Al B. Sure!]

Are you saying you're prone to making mistakes?

Not me.

[The Mad Monk]

I have never made a deposit with an ATM. ATMs don't argue.

[onodera]

In all my teenage and adult years, with all the banks I've been with, none of them have ever made a mistake.

You're just lucky. The bank I work for makes at least 10 mistakes a month.

[Dauphin]

In all my teenage and adult years, with all the banks I've been with, none of them have ever made a mistake.

You never played enough Monopoly

[Dauphin]

http://www.guardian.co.uk/world/2009/may/21/new-zealand-millionaires-flee-westpac

The pair, named in media reports as Leo Gao and Cara Young, could hardly believe their luck when they checked their account at Westpac bank on 5 May, hoping to find their request for a NZ$10,900 (£4,000) overdraft had been accepted.

Instead, the bank had deposited 1,000 times that amount: NZ$10m, or around £4m. With so many borrowers around the world constantly being told "no" by their creditors, here, finally, was a bank that liked to say "yes".

[Dauphin]

http://news.bbc.co.uk/1/hi/talking_point/1670047.stm

David Hickey from Dublin went into a Bank of Ireland branch on November 10 and asked them to transfer 1,500 Irish pounds in pesetas to his Spanish bank account.

However, instead of receiving the going rate of 300,000 pesetas, Mr Hickey was given 300,000 euros - the equivalent of almost a quarter of a million Irish pounds.

Mr Hickey said the first he knew about the mistake was when the bank called him in Spain to tell him they had sent an official to retrieve the cash.

Following the call, he went to the local police station to explain the situation, was handcuffed by Spanish police and brought before a court.

He was later released but asked to report every two weeks until a decision was made about how to proceed with the case.

Mr Hickey has said he is not prepared to give the money back.

[Dauphin]

http://www.thenorthernecho.co.uk/news/8965766.Couple_spared_prison_after_bank_error_in_their_favour/

A JUDGE spared a couple jail for a £100,000 theft after hearing a bank was to blame for putting the cash into their account.

Colin and Susan Clack left the unexpected windfall for a year to see if the mistake was rectified before they started withdrawing money.

When the error was finally spotted by officials, the Darlington couple had used more than half of it, Teesside Crown Court was told.

The mix-up happened after the Clacks sold a house in Ireland to move to Spain in 2006 and made 111,000 euros from the deal.

A cheque sent from a firm of solicitors in Dublin would not be accepted by their bank because it had an incorrect date, the court heard.

A partner in the law firm arranged for an electronic transfer of the funds and the couple’s account was credited with the payment.

However, a short time later, the cheque was cleared by a member of staff at the bank and the money paid into their account.

The court heard how Mrs Clack wanted to come clean, but her husband said it should serve as payback for the “messing about” they endured.

They left the cash untouched until they believed they had got away with it – then withdrew sums of 5,000, 11,000 and 50,000 euros.

After the solicitors realised the mistake during an audit, the Clacks were arrested at their then home in Barmpton Lane, Darlington.

Mrs Clack, 53, who works in a town centre pub, claimed she had been pressurised by her 54-year-old husband.

She told police that they had lent their son 55,000 euros to get a mortgage and he has failed to pay them back and fled to Belgium.

Mr Clack said he thought the solicitors must have forgotten about the money after waiting a year and decided to spend it.

His barrister, Carl Swift, said: “He recognises that that is entirely inexcusable... it was a momentary lapse.”

Mr Swift said it would make no sense to jail him as he had the offer of a job as a submarine engineer and could do community work.

David Lamb, for Mrs Clack, said: “What is as plain as a pikestaff is that Susan Clack would never be appearing in this court were it not for the persuasion of her husband.

“Her immediate reaction was one of horror that this mistake had been made. She told her husband they should repay the money immediately.”

Judge Tony Briggs gave her a community order with 12 months supervision and ordered her to do 100 hours of unpaid community work.

Her husband received a 12- month prison sentence, suspended for two years, with supervision and was ordered to do 200 hours of community work.

The judge described it as a highly unusual matter, saying: “It sounds as though it was a bank error by meeting a cheque that was out-ofdate.”

The Clacks, now of Crosby Street, Darlington, both pleaded guilty to a charge of theft at an earlier court hearing.

[Zoetstofzoetje]

This happened to me once, but I was unaware of it. When I came back from California months later, I had numerous angry letters from the bank and the police waiting for me in the mailbox. Apparently, they weren't allowed to take it back out without my consent.

Best thing to do is move it to a high-interest account, because (in NL) the bank can only get the amount + government interest (which is much lower) back once they figure it out.

[MrFun]

You never played enough Monopoly

I would love a bank error in my favor. But definitely not a bank error that is unfavorable.