Have you noticed that deposit transfers do not get posted in your bank account? Why is there a delay in immediate withdrawal from one account, electronically, before it is 'posted' and available in another? The funds are somewhere in the system, but unavailable immediately. That's not good since someone is benefitting from that money. Well, introducing our Federal Reserve! Isn't is interesting that a private corporation is in control of all financial situations, period! The only good thing the "FEDRES" does is insure our account. If you ask your friendly banker, when you get a chance to talk in person, they will explain the FEDRES makes all those regulations without our involvement or that of any other entity. ATM service charges are a joke, but they are legal. Account service charges are nothing more than taxation without representation. You have money in two bank accounts, perhaps even different banks. The ATM card affords you to deposit or withdraw. So far we do not have a service charge for electronic deposits, unless we are doing business with a "Pre" paid enterprise. Most of them will charge a monthly fee, plus a usage service charge with each transaction. For those of us who are on Social Security, prepaid is neat since the direct deposit is available days prior to the original deposit dates. Mine was always on the 3rd, but with a prepaid, it was sometimes 3-days earlier. That saved me "service charge" at my apartment in Plano. They wanted rent on the first or you paid $50 for each day it was late. My prepaid made it easy to pay on time, but a "fee" to use it every time was a bummer. The only exception was with Walmart! They didn't charge the use fee!
So, when you pay a service charge at your bank for any transaction, it was gravy for the bank and possibly the FEDRES. Must be good to have free dealing, donchaknow. Really! The only one, other than us, that gets shortchanged is the computer. It makes the automatic charge for it all and it doesn't even get a Christman Bonus or health insurance.
And that's what I get from My Box of Chocolates right here in my corner studio under the shadow of Kyle Field.
James G Austin '69