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Drama Business Cringe Banks are nothing more then a bunch of crooks and legal white collar criminals #$%&/

Elektro Demon

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So, a bunch of bastards, that's what banks are. Somewhere in 2012 I took a loan from the bank so that I can buy a car. But at the time, my paycheck was kinda shit so in order for them to approve my loan I needed to take a voluntary pension fund. So every month they'd take 10 bucks on top of the loan fee as a security. So if I couldn't pay back the loan, they'd take the money from that fund.
So I cleared my debt after 3 years but I forgot about the voluntary pension fund thing. They kept taking 10 bucks from my every paycheck until today. I really didn't notice. I noticed today and went to the bank and put a stop to that. They won't be taking that anymore. But, I want my money back. It's my fucking money. But apparently, I can get my money back when I'm 45. They refuse to give me my money back before my 45th birthday. What a bunch of fucking thieves. It's my god damn money. 10 bucks every month from 2012, that's now a nice little sum of money. I could buy big navi for that cash.
And I caused quite a ruckus at the bank because I was so pissed that they refuse to give me MY god damn money back. And I went home and dug through all the paperwork, and yes, it's stated in that paper that I can only withdraw money when I'm 45.
Am I fucked? I ain't gonna see that money before 45?
 
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May 22, 2018
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So hold on let me get this straight. Hold on. You entered into a legally binding contract with the bank and apparently didn't read what it was you were agreeing to, yet you signed it anyways. Years later you realize what it was you agreed to...and you are mad at the bank for some reason? Am I understanding this correctly?
 
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DESTROYA

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Think of it like it’s money for your retirement fund, you might not need it know but it’ll come in handy when your older.
I really don’t think you can do much but if you are really pissed at the bank I would close my account and find another bank.
 
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HoodWinked

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what a weird arrangement. but if that means you were contributing to some kind of fund since 2012 and the stock market has essentially been at a bull streak since then its worth way more than what you've contributed.

instead of being angry you are really fucking lucky. imagine being angry when they accidentally made you money.
 
May 22, 2018
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what a weird arrangement. but if that means you were contributing to some kind of fund since 2012 and the stock market has essentially been at a bull streak since then its worth way more than what you've contributed.

instead of being angry you are really fucking lucky. imagine being angry when they accidentally made you money.

Imagine being angry that the bank did exactly what you signed off on and agreed to. The banks are scumbags no doubt but this is all on op if he isnt satisfied with the arrangement. No one put a gun to his head and told him to sign.

If anything take this as a learning lesson for any future level documents you have to sign.
 

Ingeniero

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Yeah you are fucked OP, you should have read what you signed.
ALWAYS READ WHAT YOU SIGN, specially the small letters and the APPENDIX/SPECIAL CONDITIONS.

How old are you? maybe those funds are in an account that will monetize and you will end up with more when you are 45.
 
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Elektro Demon

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So hold on let me get this straight. Hold on. You entered into a legally binding contract with the bank and apparently didn't read what it was you were agreeing to, yet you signed it anyways. Years later you realize what it was you agreed to...and you are mad at the bank for some reason? Am I understanding this correctly?
Well yeah, I do realize that I signed that. But it's still my god damn money. I'm okay with paying the bank some penalty or a percentage of those funds as long as I receive that money.
I agree I should've read the papers, but still. It's my god damn money.

Yeah you are fucked OP, you should have read what you signed.
ALWAYS READ WHAT YOU SIGN, specially the small letters and the APPENDIX/SPECIAL CONDITIONS.

How old are you? maybe those funds are in an account that will monetize and you will end up with more when you are 45.
28. But yeah, I'll be sure to read before I sign anything in the future.
 
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Iorv3th

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So you have less than a 1,000 in savings. You didn't even realize it was missing until today. If you were fine without it until now you will be fine.

Take this as a lesson and watch your money better and keep closer track of your stuff and don't go spend money when you figure out you have extra to spend. 1,000 isn't really much and you should have more than that in your savings account.
 

Pejo

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So a little under a thousand bucks if my math holds up, not insignificant, but not the worst lesson you could learn. The biggest bummer is that you're (presumably) not gaining any interest on it. I can't fault you for not reading the fine print, but probably asking questions at the time of signing would have better set your expectations.
 
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Gargus

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Well yeah, I do realize that I signed that. But it's still my god damn money. I'm okay with paying the bank some penalty or a percentage of those funds as long as I receive that money.
I agree I should've read the papers, but still. It's my god damn money.


28. But yeah, I'll be sure to read before I sign anything in the future.

At 28 you should have been smart enough to know when you agree to something you understand what it is you're agreeing to in the first place. So you have no excuses there.

And just saying "it's my God damn money" isn't going to do shit because again, contract.

They aren't crooks or criminals. They made you an offer and you were just a dumbass for diving into it. Don't blame them, blame yourself and move on.
 
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Elektro Demon

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At 28 you should have been smart enough to know when you agree to something you understand what it is you're agreeing to in the first place. So you have no excuses there.
And just saying "it's my God damn money" isn't going to do shit because again, contract.
They aren't crooks or criminals. They made you an offer and you were just a dumbass for diving into it. Don't blame them, blame yourself and move on.
Now I'm 28. At the time of that loan I had 20. I really was a dumbass at that age.
 

synchronicity

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The whole monetary system is calculated enslavement, yoking the (relatively) poor to the endless cycle of interest.

There is never enough money in circulation to cover all debt. Marinate on that, and do the math. A rat race indeed.

Get the cheese.



 

Lrnex

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OP is this in the US? That’s such a bizarre setup. Also do you have any kind of control on how those funds are invested or are they just doomed to sit in a low/zero interest savings account?

As far as banks on the whole go: the entire world as we know it keeps spinning because of debt. Very few individuals or entities have the on hand funds to run a large project, tie up cash in a huge inventory purchase, new building, etc so there will always be a need for a creditor. Not really any way around that.

On the consumer side, as long as there are strong laws in place to limit abuse most people can utilize banks in a way that’s mutually beneficial.
 
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Elektro Demon

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OP is this in the US? That’s such a bizarre setup. Also do you have any kind of control on how those funds are invested or are they just doomed to sit in a low/zero interest savings account?

As far as banks on the whole go: the entire world as we know it keeps spinning because of debt. Very few individuals or entities have the on hand funds to run a large project, tie up cash in a huge inventory purchase, new building, etc so there will always be a need for a creditor. Not really any way around that.

On the consumer side, as long as there are strong laws in place to limit abuse most people can utilize banks in a way that’s mutually beneficial.
No, it's Europe,. I don't have any control and it's zero interest. I can leave it there after my 45th birthday and have a bit higher pension. But it's very miniscule. Or I can get the money but only when I have 45 years. Bunch of white collar bastards.
 
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Elektro Demon

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U Kno whatcha gotta do OP I'll be rooting for ya fukk banks
I have a different idea actually.
I take a loan from the bank, somewhere in the ballpark of 1000 usd and after they give me the money I'll stop paying the monthly loan fee. Then we'll call it even and I'll tell em to get the money from that fund.
Imma screw over these crooks.
 

synchronicity

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A part of me really wishes for the little man (all of us for sure, and most everyone in reality) to abandon money altogether and just watch the world burn and let anarchy reign. If we collectively abandoned it, it would lose all value and the oppressors would find themselves on equal footing, no longer propped up by the sweat of the everyman. Obviously that's not going to happen. We're yoked tight and most are unwilling to trade their comfort for equality. Freedom would have a tremendous cost. There'd be blood in the streets, and society would crumble. And sooner rather than later, a new oppressor would emerge, leaving the world more or less the way it has always been.
 

poppabk

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This does sound sketchy. Not the only being able to access a pension fund at 45 bit though.
Ruminate on this:
You go to the bank for a loan and they are worried you don't make enough to pay it back. So they take more money - but such a piddling amount that over the entire lifetime of the loan it would only cover maybe 1 or 2 missed car payments. Sounds like someone was getting bonuses for opening new pension accounts -bet they fudged the numbers on the loan application to get it to go through. This wasn't Wells Fargo was it, this was right about the time they were going crazy on opening bogus accounts to hit quotas for bonuses.
 
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Feb 22, 2018
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I took some foreign currency out of an atm using a platinum credit card. No worries, all good, plenty of cash in my associated savings account from whence the owed credit is drawn from every month. Typical I used a debit card but had left it in a hotel room safe on the day.

Well guess what?


The bank didn't cover the credit card transaction with the money in my savings account (As they typically do) at the end of the month. At that point I perpetually owed $500 on the card, I had $100,000 in my savings account. But no, the bank decided the small amount was now liable for interest repayments and sneakily started taking interest on the $500. i.e the atm transaction was a cash loan. They were extracting $6-8 a month for almost 2 years before I noticed. The sneaky little interest transactions were irregular, on weird days of each month, and were getting lost in the list. Until I finally noticed and went to the bank in person to pay off my credit card 'loan'.

Yep, they took over ~$100 on a $500 'cash loan' despite the loan being covered by over hundred thousand dollar, sitting in the same fucking associated account under my name. It even helped my credit history, since the repayments were so regular they offered me an even better card rank. I told the teller to fuck off.

This is why we sometimes feel the need to burn things.
 
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Foamy

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I have a different idea actually.
I take a loan from the bank, somewhere in the ballpark of 1000 usd and after they give me the money I'll stop paying the monthly loan fee. Then we'll call it even and I'll tell em to get the money from that fund.
Imma screw over these crooks.
Yeaaaah that'll work. Hope you plan on driving your current car the rest of your life and never owning a home.
 
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haxan7

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The whole monetary system is calculated enslavement, yoking the (relatively) poor to the endless cycle of interest.

There is never enough money in circulation to cover all debt. Marinate on that, and do the math. A rat race indeed.

Get the cheese.



And despite that, there’s still no better system
 
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Airola

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I have a different idea actually.
I take a loan from the bank, somewhere in the ballpark of 1000 usd and after they give me the money I'll stop paying the monthly loan fee. Then we'll call it even and I'll tell em to get the money from that fund.
Imma screw over these crooks.

Let me guess, when you do that you will sign the contract without reading it again.
And fast forward some years, you will make another thread how banks suck but this time from jail.
 
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Elektro Demon

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Let me guess, when you do that you will sign the contract without reading it again.
And fast forward some years, you will make another thread how banks suck but this time from jail.
Hopefully, in a few days I'll be updating this thread and being all happy because they have returned my money. We'll see.
I've written a complaint, called the banks hq and expressed my disgust towards them and demanded my money back.
I just can't understand how there's no way to get my money sooner. I'm ready to pay a penalty or a percentage of the funds to them.
 

Airola

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Hopefully, in a few days I'll be updating this thread and being all happy because they have returned my money. We'll see.
I've written a complaint, called the banks hq and expressed my disgust towards them and demanded my money back.
I just can't understand how there's no way to get my money sooner. I'm ready to pay a penalty or a percentage of the funds to them.

Fight the power. I'm rooting for you.
 
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Super Mario

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I read the thread title and couldn't wait to hear the victim story. Thread did not disappoint.

My bank is paying for my upcoming vacation without me paying them much of anything at all. Damn crooks.
 
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Nester99

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Maybe stop searching the internet 24/7 for new things to masterbate too and read a fucking book on how to not be a fuck up.

of course you can’t take out a pension before 45. Do you know what a pension is?

It’s probably the best thing you have ever done for yourself and your screaming like a moron about it.

put some effort into your life and education (not nessecarly school, read a library book) and it will be less shitty
 
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Elektro Demon

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Maybe stop searching the internet 24/7 for new things to masterbate too and read a fucking book on how to not be a fuck up.

of course you can’t take out a pension before 45. Do you know what a pension is?

It’s probably the best thing you have ever done for yourself and your screaming like a moron about it.

put some effort into your life and education (not nessecarly school, read a library book) and it will be less shitty
Watch out people, Nester99 has entered the thread.
 
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