Since they have the drawings back I guess they are giving a little back. But that is very microscopic compared to what they take in. I have a hard on for them because when they first opened they used to allow 5 dime transfers and they quickly decided they could make much more money cutting the limit in half. This was supposenly done "for our protection"
I wish someone could compete with them.
I wish someone could compete with them.
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There response would be, why should we give you interest since you are free to take out the money at any time!
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That's not much of an argument; most checking (and just about all savings)accounts pay interest, and you can take your money at any time. If a client takes out money from the account, then interest stops accruing on that money, simple as that. Money goes back, interest starts accruing again.
There response would be, why should we give you interest since you are free to take out the money at any time!
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That's not much of an argument; most checking (and just about all savings)accounts pay interest, and you can take your money at any time. If a client takes out money from the account, then interest stops accruing on that money, simple as that. Money goes back, interest starts accruing again.
I'm not sure, but I think paying interest might raise some legal issues in terms of becoming more of a "financial institution" and such. I guess they figure most people just use it to move money in, out and around and don't use it as a bank account, per se. I don't really mind not getting interest. I mean, even if you have a 5K average balance, at 1.6% APR, which is rather high, it would net just 80 bucks per year. Whoopdeedoo.
