Tuesday, May 27, 2008

Banks are not for the poor.

Bank of America, for example, requires one to have at least $750.00 in a checking account, or $1,500.00 in a savings account in order to avoid fees. If one does not maintain a minimum of 750.00 in their checking account, even if it slips under for one day, they will charge between 10.00 and 12.00 dollars.

Now, in my personal experience, as much as I tried to persuade them to see my side of the story (moving to a new apartment and misplacing my checks for ONE DAY), they refuse to cut me any slack, stating that the "fee was correctly applied." Then they told me if I put $1,500.00 in my savings account, I could avoid the fee. Where the hell do they expect me to find that money if I cannot even afford to keep a checking account open?

I do not care how "correctly" their fee was applied... it is the fact that it exists which is outrageous. Why should there be a penalty for not having a certain amount of money in one's account? Why shall the poor continue to be punished? For me, $10.00 is a bag of potatoes, 5lbs of rice and a gallon of gas. To them, it is nothing. These thieves are making money off other people's hard earned wages because they made up a silly rule.

But does this not sound familiar? Think of income taxes, tariffs, lab fees (for those in college), interest on loans, tolls, stamps, and the list goes on. It is the American Capitalist way: those on top will make money with little to no effort, stealing the wages of the poor (and middle class) through their laws and rules. Not to mention the international atrocities committed by the the World Bank and IMF...

Yet, their rules are only suggestions and they are definitely not carved into stone. We must think of clever ways to defy their system and protect ourselves and our means of survival. I have a long list, but for the sake of my privacy (and possibly freedom) I will not list them here at this time.

Start to think of your own tactics and perhaps one day we can share them.

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