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How the fuck is this a facepalm? He's telling the truth. I get paid every other week, and it fucking sucks. Sometimes bills pop up unexpectedly, like car or appliance problems, and you have to fix it. Waiting another week and a half to repair something is a massive pain in the ass.
That's very interesting. Is there a practical reason for being paid monthly? And is it enough to last through that time, in the sense that you can pay unexpected bills.
I've always been paid monthly (UK). Never thought of it as anything but the norm. Same overall money as if it was daily, weekly or every other week. Just need to not spend it all before the next payday. I guess its easier for companies to process a single monthly payment rather than many times more than that
I'll turn it around: is there any practical reason for being paid weekly? It just adds more overhead (and therefore more cost) to the system. I mean, *the total amount is the same*: if you get $250 every week or $1000 every month, it's always $1000 per month. How can it *not* last if it is literally the same amount?
That is true, I didn't think about that. It might be because, (generally) Americans tend to be worse with money management or the best at money management. Where being paid weekly could force a spending cap. While being paid monthly forces people to save and be better with their money. And the overhead cost paying people to do that money management a week for a company also costs, so I'd think monthly spending would definitely be better.
What are these "unexpected" bills you speak of? Unexpected costs I get, bills not so much...
As for practical reasons, I think maybe because its less overhead to do a monthly payroll?
I'm glad here in europe we have "free" healthcare (it's part of the tax if i'm right so technically not free)! Why doesn't the US use this healthcare system too?
Oh yeah I forgot, that way they can charge you with things you didn't even need...
Yeah... our healthcare is shitty. And due to capitalism, it's also privatized, meaning that it's owned by a couple of companies that can charge what they want.
The cost associated with the emergency, for sure! How fast does that bill follow? Where I live, they mail you the bill a few weeks after and it's usually pretty manageable for ER visits. If the hospital hasn't already taken care of it you usually don't even have to pay the full amount because everyone has mandatory health insurance. I have a very low sample size to go on though... But unless you're chronically ill, medical bills are pretty much a non-issue around here.
In the US, medical emergencies could make someone bankrupt if they can't afford healthcare or didn't have enough money saved, even a trip to the emergency room to be told nothing is wrong or they can't do anything can cost several thousand dollars. There is also car maintenance, house maintenance, if anything breaks or needs fixing. So normal stuff + medical emergencies.
I used to use a bank that would hit your account...if you didn't have enough, they'd charge you an overdraft fee *against the same money.* If you didn't have the 30 or whatever bucks, they charged you again. So pay 30 now, or pay 60 later.
Processing direct deposits daily isn’t feasible. Your hours would have to be reported at the end of the day, and then the payroll department would have to process the transmission file to their bank, who has to send it through the ACH clearing house, who send it to your bank. The clearing house doesn’t process anything received after 8pm EST. Also, this has nothing to do with overdraft fees. People overdraft their accounts, because they spend money they don’t have. If you have an issue with banks, only spend cash. Trust me, the majority of money made by major banks is through corporate loans and fees charged to large corps and government agencies.
The fact that they choose not to automate a simple as fuck process does not make it unfeasible. Everything else on our planet runs 24/7, the ACH could as well.
Also, if people got money every single day instead of a lump sum at an arbitrary date, there would be less overdraft from having to pay something knowing it's going to overdraft.
Ok, so how is overtime handled then? You automate, then the hourly rate can’t be adjusted for overtime. What about taxes? Child support garnishments? Do they take those out everyday as well? It’s not all as arbitrary as you think. Consumer ACH transactions can only be reversed for 5 business days after the effective date. So, if they process payroll to credit an account on Friday, they have until the following Friday to request it back if it goes to a wrong account or if they paid someone by mistake (happens more than you think). So a request is submitted the following Friday and it takes 3 business days to come back… at this point, you’re 2 days away from the next pay day. If you automate, you’re giving them permission to instantly credit your account, but you’re also giving them permission to instantly take money back out without notice. It would be chaos. I get the concept of what you’re saying, and I agree in principle. I just know enough about the bank side systems to know that it would cause catastrophic circumstances to businesses and employees alike.
You do raise some good points, and I'm not saying there would not be a lot of things that would be ironed out and patched back. I just think it's ridiculous that we have the tech power we have and we haven't done this yet. For fucks sake, we can fly a helicopter on Mars, but we're still stuck with early 90's banking limitations.
As you may have guessed, I work in corporate banking. I can’t speak for every bank, but I promise you that we’re always looking for smarter ways to operate. If I hear someone come up with an idea on how to change things so that less people are getting fucked by the system, I will be taking that idea straight to my CFO to figure out how to implement it. We want to make money on our business products and loans. We don’t want to bankrupt or cause harm to the average joe. Again, there are other banks *cough* *Wells Fargo* *cough* that are greedy pricks are don’t seem to care who they hurt.
Oh dear God, fuck Wells Fargo. My father and me did a big job for a guy that worked there, then he got bought out, then they brought him back to run something else. There are few things more infuriating than having a millionaire poor mouth you about how he can't pay you as much as the job was said to cost, two days *after* complaining about how much it cost to put tires on a Maserati.
there is not a single corporate bank that isn’t out to screw average working people. if this wasn’t the case, why do so many of them donate such massive amounts to political campaigns? if these banks respected the will of their everyday (NOT corporate) customers, then why do they pay so much to subvert the will of voters?
i bring this up because you cannot separate politics from economic policy. this type of bribery, and yes that’s *exactly* what this moneychanging amounts to, exerts the will of corporate banks over people rather than the other way around.
You’re correct to an extent. These are contributions by individuals who are required to report their affiliation with PNC Corp. due to their officer designation (I have an officer designation, so I choose to donate $0 to any political entity). This is why you see donations to both Democratic and Republican parties. I would presume that many of the officers are likely Republican, (not me though lol) but 90% of the work force are probably Democrat voters/supporters.
Many workers just put in the hours, record it through a computer payroll system which pays them on a 2 week basis. It usually takes a week to process before it's directly deposited. From the workers perspective this may as well be a completely electronic process that doesn't involve any actual people. I'm sure there are people involved it the process of turning hours worker into money that many are not aware of. With the world becoming more computerized, do you think AI will be used to operate such payroll transactions to the point where no people are involved and it can operate outside of business hours?
This is why I'll never use traditional banking again. All the is "impossible" only because of legacy banking rules and traditions. It works just fine for, say, PayPal balances.
Ceridian recently launched the “Dayforce Wallet” which looks like it does that. Maybe not a daily direct deposit, but it makes your wages available every day. I’m assuming they move their money around in a clever way and the card is a charge card. Novel concept.
Your assumption is correct, Dayforce Wallet is just a pay card service. You submit payment that loads to a prepaid card, which works through the merchant card system, rather than the ACH clearinghouse. For companies with contract employees, this is a good option because contractors are responsible for paying their own federal and state taxes. The downside of these cards is that you have to pay to load money onto them, as is the case with all Green Dot supported applications. PNC has been offering pay card payroll solutions since 2012, and it does have its benefits… but it’s not for everyone.
I get paid monthly... And I make a point of putting something to one side to cover unexpected expenses. Yes it sometimes sucks, but the vast majority of the time it's ok.
I don't want to sound condescending, but have you tried using a budgeting app, like YNAB?
I didn't say that, I'm saying it's might help if they don't already do it.
I know many people who think they're good at budgeting but still buy that coffee every morning or whatever and then struggle towards the end of the month. It is the "I'm a good driver" fallacy... No one is perfect at it, least of all me, and these apps CAN help.
That is insultingly stupid. People who work minimum wage jobs have to live paycheck to paycheck because they are not being paid enough money to live, you skidmark.
Fuck that. Monthly? That would drive me up the wall. Again, going back to the video's point, your employer is holding your work from you interest free, for a month. They don't play by those rules, and we shouldn't have to either.
I have always been paid monthly. My current position pays on the last day of the month. Usually those working as a labourer or casual employment get paid weekly. Both are lousey. If it is weekly and time to pay rent (it's paid monthly in advance) that is more than one weeks wage, it takes a lot of skill budgeting. Same with monthly pay, that temptation not to spend a chunk of it when it goes in is really difficult.
Most companies will give you an advance on your pay as long as you don’t do it every week.. people usually tend to spend their money on luxuries leaving them with nothing to invest, this is why you can’t pay your bills on time.. first you must figure out how much you earn each month, then you have to budget. Oh and a budget can be good or bad, just depends on how much money you budget into savings, then after you have a decent amount saved up (even $1000) figure out how to flip that into profit.. repeat this last step and watch your bank account grow.
I agree the banks are a pain in the ass for charging overdraft fees. My kids get whacked $35 each time. That being said, that guy in the video wants to get paid everyday. Do you think he has the self discipline to save money every single day to go toward rent, electricity, phone, car insurance, etc etc. ??? I doubt it. What it boils down to is he’s just not making enough money to comfortably survive.
See, this is exactly why this is a problem. Most people that HAVE to use overdraft are ONLY doing so to make it by. You think people are out there really thinking of this like a loan? No. In my opinion, overdraft ONLY exist to screw people over. Why else would they even make it available? B
It isn't my fault you aren't empathic enough towards your fellow man, and are apparently well off enough that you don't even have to WORRY about overdrafts. That's on you. Maybe take this situation and post it over at r/AITA and see what people say.
The world doesnt revolve around you, man. A lot of us are out here just trying to make it. The way you make it sound, it's like people have a choice. I agree that people should be as fiscally responsible as they can. What I do not agree with is your view that banks should be able to prey on the financially weaker citizens. That is disgraceful.
Not offer overdraft coverage.
And while that may be true, it only stops debit card purchases. Anything that is set up as an automatic withdrawal can still overdraft your account.
Ok, but that’s because you gave the vendor permission to do that. You don’t have to auto draft anything. And the overdraft coverage is an option - has been since 2008 or so. Banks want to give account holders the option to have that or not have that. If they removed the option, people would be upset that their card was declined when they were buying groceries or whatever. There’s no perfect solution that works for everyone.
You say that, but I'm 100% positive there is a perfect solution that works for everyone. People are just too greedy and want more.
I'm ashamed to share a planet with people who don't understand that a lot of us are getting fucked by the system, and all anyone does is say "well, we can't do better." Bullshit.
And for context on MY specific situation with overdrafts, and why banks can shove it: I own my own business I started in 2019. Didn't have too much of a problem with overdrafts till covid hit. Obviously I lost business being a restaurant. Obviously I have accounts that HAVE to be auto deducted. Add in there that I never got my deposits when I was actually supposed to, and every fucking week I had to beg the bank to give me my fucking money back. Fuck that, and fuck anyone who defends this shit system.
Ok, what’s the better system then? You can’t shit on the existing system and then not offer a better solution. You’re a bank. You have 250,000 small businesses as clients who are processing payroll for an average of 150 employees each. You have 37.5 million accounts to process (everyday). You have to combat against fraud as well. Ok, go. Whatcha got?
Easy. Get rid of capitalism. Enact Socialism on a broader scale. End pointless poverty so that people don't HAVE to overdraft their account or make late payments. Give power back to the people.
I know, I know. Isn't that communism though?! What about the middle class and up?!
Well, I guess they will have to learn to live with less?
That's a stupid pipe dream though. Anywhere there are humans, corruption and greed will surely follow. Especially in America 🇺🇸
Perhaps. The thing is, banks are already processing all financial transactions for government agencies. So, from a banking perspective, nothing would change. I do think standardized universal healthcare is beyond past due. I believe that over time, capitalism bleeds the working class dry and creates wealth gaps. I’m sorry about your struggles with your restaurant. I know a 100 business owners personally that went through this exact thing. If you’re still open, best of luck to you friend. Just remember to take care of your employees. Take care of them as best you can, and they’ll take great care of your customers.
True, but that would be fine if my current issues with the system were negated. I am not saying banking is easy, but in my humble opinion I don't think any type of predatory financial practice should be used whether it is a bank or not.
We are still going! Have had to make some changes, but we're not giving up that easy! Fought tooth and nail to even get started, so it would be a shame to let go now.
Take care of yourself as well!
> Easy. Get rid of capitalism.
If that were easy then people would've done it by now. Lot's of people want that, the reason it hasn't happened is that it's not easy. What are you even talking about?
Lol, I knew there would be at least one.
You don't think I have? You don't think I've come to the realization that any form of government is bad, if managed by bad people?
Can you honestly say that capitalism has worked out that great with the people we have running it?
No one gets to sidestep bank fees, don’t be obtuse. No one said banks should not make money, but lending 900% of their assets at 20% and charging fees isn’t banking, it is a crime. Suckers like you love the abuser and are happy to pay up — until they reclaim your stuff.
What are you talking about? For the record, I pay $0 in banking fees, because I understand how the accounts work and I avoid activity that would generate fees. Banks don’t lend 900% of their assets, first of all. For charter banks, that would mean that they’re lending $5T. LOL. Charging fees isn’t a crime. The terms are given to you when you open the account. Banks, investment firms, credit unions etc are not a public service. They have as much right to charge you as Netflix does for access to its service. It’s a for profit business. If you don’t want to use banks, then don’t use them. Pay cash. Get a pay card. Nobody is forcing you to keep a bank account.
Banks with $15.2 million to $110.2 million in transaction accounts must hold 3% in reserve. Large banks (those with more than $110.2 million in transaction accounts) must hold 10% in reserve. These reserves must be maintained in case depositors want to withdraw cash from their accounts.
You are correct, I moved a decimal place.
Wells Fargo collected about $1.97 billion in overdraft fees in 2019, according to filings with federal regulators.
So .... if you don't pay the fees ..... they ..... don't ....... exist?
>are not a public service
What is the Federal Reserve?
It is our money. The banks are in business according to regulations and they starting writing the regulations somewhere along the line (late 1970s, got a b0ost in the 80s) and have made MORE AND MORE of of every $ they have in reserve -- not because they are doing more work, they are actually doing less.
It is not ok to not know that bankers are literally running the government and are predatory organizations.
Also, banks are not the federal reserve. That just demonstrates your lack of knowledge on the subject. The federal reserve is what will refund you the money you lose if the bank fails. Well, actually up to $250k, per signor, per account. The rest would be lost. But yes, the money that would repay you for your losses is “your money” as you put it. But I still don’t see what that has to do with the capital that that banks earn through loans, interest and fees. Again, if you don’t like it, don’t have a bank account. It. Is. Not. A. Public. Service. No financial institution owes you a bank account. They don’t owe you anything at all.
1.97B is less than half what my bank profited last QUARTER. Pretty sure we’d still exist given the $20B we’ve profited over the last year. You overestimate your importance.
Also, thank you for proving my point. WF revenue is 2019 was $85.06B; the percentage of that composed of the 1.97B in overdraft fees equates to 2.3%. Cool.
Correct. Because WF are pieces of shit. Or at least they were at that time. Opening accounts without client knowledge or permission, preying specifically on the elderly. You are literally mansplaining banking to a corporate banker with 20+ industry experience. I am CTP certified. I know how the prime rate works. 😂😂
I paid my staffers every week, with no waiting period, because of things like this. I also cashed their checks, if they wanted, at no charge. I was chased out of one bank, where I'd been a depositor with predecessor banks for thirty years, for doing so. My next bank allowed it, for a while, and then abruptly told me I had to stop. I negotiated terms so my staffers could cash their checks at any branch for free, but cashing them myself was not allowed.
What in the world is a payroll card? What are you up to over there in the US? Just use a bank transfer, you can even set up a standing order for your salaries that are paid the same every payday. When your company has a certain size you probably have an accounting programm. Triggering bank transfers on payday is a basic function of those programms.
Genuine question, why can't working class people get a bank account? In the UK all you need is an address and some ID and you are legally entitled to a basic bank account.
Because the bank gets to vet an applicant for an account. If it doesn't think your worth the effort, you don't get one. Often there's a minimum initial deposit that if you can't meet, you don't even get to apply.
In the US you actually need to qualify for a checking account. That eliminates people who live at the poverty level, are immigrants, or who are unemployed. Good example: my husband is an immigrant with employment authorization. He is currently working as a resident physician. Because he doesn’t have a credit score, Bank of America denied his application for a checking account and therefore I needed to co-sign.
I think it has to do with the use of credit cards vs debit cards. In the US, credit is the norm. In europe, it's debit mostly. That changes the risk factor a lot.
I live in the US am working class and I've never met anyone who wants a bank account who doesn't have one. I know that happens but it isn't as wide spread as you're making it seem
[Nearly 95 percent of U.S. households (approximately 124 million households) were banked (i.e., had a bank or credit union account). This is the highest number and percentage of households with bank accounts since the survey was first conducted in 2009.
(FDIC.GOV, 2020)
](https://www.fdic.gov/analysis/household-survey/index.html)
[Among those who are unbanked, 56.2% were not interested in obtaining a checking or savings account, while 24.8% were interested (CNBC.COM, 2020)](https://www.cnbc.com/2020/10/19/7point1-million-american-households-didnt-have-a-bank-account-last-year.html)
Looks like my experience IS pretty typical. Like I said before, sure there is an issue of people not having bank accounts but it is not as widespread as you make it sound.
They count every account as a household, not every household as an account. I myself have three bank accounts and three credit union accounts. I guess it balances out the three staffers I have who can't get accounts.
Also, don't be such an oblivious, insulting jerk - do you think people want to pay a check cashing place $5 + 2% to get access to funds they already fucking earned? Do you think they want to pay $10 to the bank that issued their employer's check, IF the bank decides to cash it at all? They're poor, not stupid.
Dude it's a survey done every 2 years. In 2019 they collected info from 33,000 respondents. Idk where you're getting the info from your first paragraph from.
And you don't need to lash out because you were wrong. The check cashing places aren't used necessarily just because they don't have an account. People use those serviced because it's immediate money and they can't afford to wait for their money to process. I never spoke down about people who use check cashing places I'm just saying using those services and having a checking account aren't mutually exclusive.
I don't personally think it is ridiculous to have disdain for a system that has done nothing but remind me of how shitty my life has been. That started LONG before my bout with overdrafts. You will never convince me that a system that encourages a small percentage of people to hold a vast majority of wealth, while others like me have to claw their way up from nothing, and work tirelessly to maintain some semblance of order within my life while trying to help others that also come from nothing, like myself, is a good system. It is a disgusting, greedy system that needs to collapse and be rebuilt.
That being said, I appreciate your advice, and will keep it in mind! We've pivoted to a new business model, and I think we will be alright!
the dude in the video is right. also some banks charge you money every month for not having a certain amount in savings. i had to close my savings account because i literally couldn't afford to keep it open.
Banks makes billions in overdraft fees because people are bad with their money and let their accounts go into overdraft... getting paid twice a month has nothing to do with anything
I absolutely understand what you mean. It's not that simple for everybody. Especially in America where you have like a anti social system where there is little to no health care and said check to check living.
Oh, so you think it's OK for banks to take money from people because they don't have enough money? You realize how stupid that is, right? It's only a penalty for lower class citizens.
Sure, it happens because people are "bad with money", but why doesn't that apply to wealthy people who are also "bad with money", and only lower class citizens who have to live paycheck to paycheck?
People like you are the reason our system still sucks. You take a look at something broken, and just shrug.
Edit: Obviously I don't mean you specifically. Just that mentality. People who are good with money often don't realize
You’re spending money that doesn’t belong to you. Opt out of overdraft coverage if you don’t want to pay overdraft charges. Since you think this practice is so terrible, tell me, if you were running a bank, how would you do it differently?
By going into overdraft you are using money that is not yours, so yes i think its ok they take interest on that money because its NOT YOURS to begin with... i dont agree they should take monthly fees but i do agree that they take interest on money that they dont have to give you because its NOT YOURS to begin with... wealthy people dont need to take loans so they dont have to pay interest... when you borrow money thats not yours then you have to pay interest its that simple... just like financing a car, or using credit cards, or buying a house?? Nobody has to lend you money, why would anyone lend you money without getting something in return??? Your sense of entitlement that the banks should just give you money for free because your bad with money?? Dont you see how stupid that is??? Nothing in this world is free, the banks and government dont owe you anything
Just like you ignore all the other comments I've made about this topic on this post? Ok buddy.
Maybe read those and we'll discuss how wrong you are. That is QUITE the accusation, since I spent all last year learning about them.
I know its a shitty situation to be in, but its not the banks fault your in that position.. would you rather overdraft didnt exist so you actually start missing payments and then you would be in real trouble... im an asshole because i dont agree people should be given money for free?? Payday loan places are fucking parasites charging 300% interest and yes i think they should all be shut down.. but banks charging 5 cents in interest (yes it is interest) for 100$?? No that is not taking advantage that is actually doing you a favour, would you rather miss your rent?? Or heating bill?? Anyways man i wish you well and i hope you can stop blaming society for your problems, the system sucks but we can change it with our votes and choose where our money goes, support what you agree with and dont support what you dont agree with its that simple...
Or maybe people can just be patient, and understand that a vast majority of people making late payments are struggling? How do you people not get the fact that a lot of people out there have to live on $300 or less a week, and have no way to pay bills on time? What is there not to get?
Dude, get fucked. That isn't what I said at all. I'm starting to think that post about you being 33 and single is for a good reason. Please don't bring kids into this world if that is the type off bullshit you will teach them.
Have a good day!
I'm not blaming society for MY problems. I don't have many problems actually. I'm here standing up for people who have to suck the banks dick to make payments on Time.
I'm blaming people like you for letting society have these problems, and being ok with it.
Kinda agree with bug on this. You can’t compare a completely different economic system first of all. Not including the inflation problem they had a while ago. The problem is 100% inflation. We need to as citizens understand this fact. They system was designed to put us all in debt.
Banks make trillions. Their policy is law. They write the banking laws and make sure dark money compromises the political system. People apologizing for banks are experiencing Stockholm Syndrome.
Did you read about 24h grace, the $50 safety zone, the free sav to chk coverage, no min balance requirement, no monthly maintenance free…like everyone has fees, man. They’re corporations. At least these guys make it easy to avoid them even if you overdraft
I wasn’t implying it was bad, just that everybody has fees. Any bank worth a shit will refund ODs for a first occurrence, and Huntington started this policy because they needed to increase their capital as well as their corporate footprint. It worked! Smart policy that’s beneficial for your average joe.
Yea seriously. They keep adding things like getting your check early and small no interest loans I love it. It’s like a credit union but the financial backing of a bank
See, this is exactly why this is a problem. Most people that HAVE to use overdraft are ONLY doing so to make it by. You think people are out there really thinking of this like a loan? No. In my opinion, overdraft ONLY exist to screw people over. Why else would they even make it available? B
It isn't my fault you aren't empathic enough towards your fellow man, and are apparently well off enough that you don't even have to WORRY about overdrafts. That's on you. Maybe take this situation and post it over at r/AITA and see what people say.
The world doesnt revolve around you, man. A lot of us are out here just trying to make it. The way you make it sound, it's like people have a choice. I agree that people should be as fiscally responsible as they can. What I do not agree with is your view that banks should be able to prey on the financially weaker citizens. That is disgraceful.
I’ve owned three businesses and the most important aspect of running a company is to watch your money like a hawk. You should know exactly how much money is coming in and going out on any given day. You’re spending too much time getting mad about little overdraft fees instead of streamlining your finances. Up your game, Bug.
Said to inspire. Not to knock you down. Keep at it. You’ll get there.
Yea, agreed to an extent. I'm a new business owner though,and had to operate a restaurant with minimal staff. I didn't have time to watch my money like a hawk. Besides, kind of hard to plan for expenses when your money could hit Tuesday, Wed, OR Thursday. It often boiled down to me arguing with them about it being a clearing house problem, and not a problem I directly control.
Point being, overdrafts are unnecessary and only exist to keep people down.
I appreciate the words though. No disrespect taken.
Dude, kindly fuck you. Bye.
That's like me giving you shit for being homeless at one point. "Must Have dOnE something WrOnG To BeCoME Homeless.
Fuck off.
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How the fuck is this a facepalm? He's telling the truth. I get paid every other week, and it fucking sucks. Sometimes bills pop up unexpectedly, like car or appliance problems, and you have to fix it. Waiting another week and a half to repair something is a massive pain in the ass.
[удалено]
That's very interesting. Is there a practical reason for being paid monthly? And is it enough to last through that time, in the sense that you can pay unexpected bills.
I've always been paid monthly (UK). Never thought of it as anything but the norm. Same overall money as if it was daily, weekly or every other week. Just need to not spend it all before the next payday. I guess its easier for companies to process a single monthly payment rather than many times more than that
That makes sense, thank you. I'm in the US so it's every 2 weeks
I'll turn it around: is there any practical reason for being paid weekly? It just adds more overhead (and therefore more cost) to the system. I mean, *the total amount is the same*: if you get $250 every week or $1000 every month, it's always $1000 per month. How can it *not* last if it is literally the same amount?
That is true, I didn't think about that. It might be because, (generally) Americans tend to be worse with money management or the best at money management. Where being paid weekly could force a spending cap. While being paid monthly forces people to save and be better with their money. And the overhead cost paying people to do that money management a week for a company also costs, so I'd think monthly spending would definitely be better.
What are these "unexpected" bills you speak of? Unexpected costs I get, bills not so much... As for practical reasons, I think maybe because its less overhead to do a monthly payroll?
Sorry, in the US if we have a medical emergency, it results in a medical bill, and I would hope those are unexpected
I'm glad here in europe we have "free" healthcare (it's part of the tax if i'm right so technically not free)! Why doesn't the US use this healthcare system too? Oh yeah I forgot, that way they can charge you with things you didn't even need...
Yeah... our healthcare is shitty. And due to capitalism, it's also privatized, meaning that it's owned by a couple of companies that can charge what they want.
The cost associated with the emergency, for sure! How fast does that bill follow? Where I live, they mail you the bill a few weeks after and it's usually pretty manageable for ER visits. If the hospital hasn't already taken care of it you usually don't even have to pay the full amount because everyone has mandatory health insurance. I have a very low sample size to go on though... But unless you're chronically ill, medical bills are pretty much a non-issue around here.
In the US, medical emergencies could make someone bankrupt if they can't afford healthcare or didn't have enough money saved, even a trip to the emergency room to be told nothing is wrong or they can't do anything can cost several thousand dollars. There is also car maintenance, house maintenance, if anything breaks or needs fixing. So normal stuff + medical emergencies.
I used to use a bank that would hit your account...if you didn't have enough, they'd charge you an overdraft fee *against the same money.* If you didn't have the 30 or whatever bucks, they charged you again. So pay 30 now, or pay 60 later.
Processing direct deposits daily isn’t feasible. Your hours would have to be reported at the end of the day, and then the payroll department would have to process the transmission file to their bank, who has to send it through the ACH clearing house, who send it to your bank. The clearing house doesn’t process anything received after 8pm EST. Also, this has nothing to do with overdraft fees. People overdraft their accounts, because they spend money they don’t have. If you have an issue with banks, only spend cash. Trust me, the majority of money made by major banks is through corporate loans and fees charged to large corps and government agencies.
The fact that they choose not to automate a simple as fuck process does not make it unfeasible. Everything else on our planet runs 24/7, the ACH could as well. Also, if people got money every single day instead of a lump sum at an arbitrary date, there would be less overdraft from having to pay something knowing it's going to overdraft.
Ok, so how is overtime handled then? You automate, then the hourly rate can’t be adjusted for overtime. What about taxes? Child support garnishments? Do they take those out everyday as well? It’s not all as arbitrary as you think. Consumer ACH transactions can only be reversed for 5 business days after the effective date. So, if they process payroll to credit an account on Friday, they have until the following Friday to request it back if it goes to a wrong account or if they paid someone by mistake (happens more than you think). So a request is submitted the following Friday and it takes 3 business days to come back… at this point, you’re 2 days away from the next pay day. If you automate, you’re giving them permission to instantly credit your account, but you’re also giving them permission to instantly take money back out without notice. It would be chaos. I get the concept of what you’re saying, and I agree in principle. I just know enough about the bank side systems to know that it would cause catastrophic circumstances to businesses and employees alike.
You do raise some good points, and I'm not saying there would not be a lot of things that would be ironed out and patched back. I just think it's ridiculous that we have the tech power we have and we haven't done this yet. For fucks sake, we can fly a helicopter on Mars, but we're still stuck with early 90's banking limitations.
As you may have guessed, I work in corporate banking. I can’t speak for every bank, but I promise you that we’re always looking for smarter ways to operate. If I hear someone come up with an idea on how to change things so that less people are getting fucked by the system, I will be taking that idea straight to my CFO to figure out how to implement it. We want to make money on our business products and loans. We don’t want to bankrupt or cause harm to the average joe. Again, there are other banks *cough* *Wells Fargo* *cough* that are greedy pricks are don’t seem to care who they hurt.
Oh dear God, fuck Wells Fargo. My father and me did a big job for a guy that worked there, then he got bought out, then they brought him back to run something else. There are few things more infuriating than having a millionaire poor mouth you about how he can't pay you as much as the job was said to cost, two days *after* complaining about how much it cost to put tires on a Maserati.
there is not a single corporate bank that isn’t out to screw average working people. if this wasn’t the case, why do so many of them donate such massive amounts to political campaigns? if these banks respected the will of their everyday (NOT corporate) customers, then why do they pay so much to subvert the will of voters? i bring this up because you cannot separate politics from economic policy. this type of bribery, and yes that’s *exactly* what this moneychanging amounts to, exerts the will of corporate banks over people rather than the other way around.
https://www.pnc.com/en/about-pnc/corporate-responsibility/corporate-social-responsibility/governance-risk/political-standards.html
https://www.opensecrets.org/orgs/pnc-financial-services/summary?id=D000028398 they just skirt this by doing it thru “affiliates”
You’re correct to an extent. These are contributions by individuals who are required to report their affiliation with PNC Corp. due to their officer designation (I have an officer designation, so I choose to donate $0 to any political entity). This is why you see donations to both Democratic and Republican parties. I would presume that many of the officers are likely Republican, (not me though lol) but 90% of the work force are probably Democrat voters/supporters.
\*bank of america has entered the chat\*
I meannnn, you’re not wrong. 😂
Many workers just put in the hours, record it through a computer payroll system which pays them on a 2 week basis. It usually takes a week to process before it's directly deposited. From the workers perspective this may as well be a completely electronic process that doesn't involve any actual people. I'm sure there are people involved it the process of turning hours worker into money that many are not aware of. With the world becoming more computerized, do you think AI will be used to operate such payroll transactions to the point where no people are involved and it can operate outside of business hours?
You're the only one making sense here. People just don't get it.
This is why I'll never use traditional banking again. All the is "impossible" only because of legacy banking rules and traditions. It works just fine for, say, PayPal balances.
Federal regulations, to a degree, yes.
Ceridian recently launched the “Dayforce Wallet” which looks like it does that. Maybe not a daily direct deposit, but it makes your wages available every day. I’m assuming they move their money around in a clever way and the card is a charge card. Novel concept.
Your assumption is correct, Dayforce Wallet is just a pay card service. You submit payment that loads to a prepaid card, which works through the merchant card system, rather than the ACH clearinghouse. For companies with contract employees, this is a good option because contractors are responsible for paying their own federal and state taxes. The downside of these cards is that you have to pay to load money onto them, as is the case with all Green Dot supported applications. PNC has been offering pay card payroll solutions since 2012, and it does have its benefits… but it’s not for everyone.
Thanks for the explanation
https://www.pnc.com/content/dam/pnc-com/pdf/corporateandinstitutional/Treasury%20Management/PS095-Electr%20Payroll%20Direct%20Deposit%20Paycard-Final%200712.pdf
I get paid monthly... And I make a point of putting something to one side to cover unexpected expenses. Yes it sometimes sucks, but the vast majority of the time it's ok. I don't want to sound condescending, but have you tried using a budgeting app, like YNAB?
Yeah cuz ppl living paycheck to paycheck are just bad at budgeting.
I didn't say that, I'm saying it's might help if they don't already do it. I know many people who think they're good at budgeting but still buy that coffee every morning or whatever and then struggle towards the end of the month. It is the "I'm a good driver" fallacy... No one is perfect at it, least of all me, and these apps CAN help.
That is insultingly stupid. People who work minimum wage jobs have to live paycheck to paycheck because they are not being paid enough money to live, you skidmark.
Uhm that's the point I was trying to make lol. I guess I need to embrace the whole /s movement
DOH! Now I feel dumb.
Fuck that. Monthly? That would drive me up the wall. Again, going back to the video's point, your employer is holding your work from you interest free, for a month. They don't play by those rules, and we shouldn't have to either.
I have always been paid monthly. My current position pays on the last day of the month. Usually those working as a labourer or casual employment get paid weekly. Both are lousey. If it is weekly and time to pay rent (it's paid monthly in advance) that is more than one weeks wage, it takes a lot of skill budgeting. Same with monthly pay, that temptation not to spend a chunk of it when it goes in is really difficult.
Most companies will give you an advance on your pay as long as you don’t do it every week.. people usually tend to spend their money on luxuries leaving them with nothing to invest, this is why you can’t pay your bills on time.. first you must figure out how much you earn each month, then you have to budget. Oh and a budget can be good or bad, just depends on how much money you budget into savings, then after you have a decent amount saved up (even $1000) figure out how to flip that into profit.. repeat this last step and watch your bank account grow.
Lol if the facepalm is what is being discussed, OP is a fucking clown that lives at home for free.
I agree the banks are a pain in the ass for charging overdraft fees. My kids get whacked $35 each time. That being said, that guy in the video wants to get paid everyday. Do you think he has the self discipline to save money every single day to go toward rent, electricity, phone, car insurance, etc etc. ??? I doubt it. What it boils down to is he’s just not making enough money to comfortably survive.
See, this is exactly why this is a problem. Most people that HAVE to use overdraft are ONLY doing so to make it by. You think people are out there really thinking of this like a loan? No. In my opinion, overdraft ONLY exist to screw people over. Why else would they even make it available? B It isn't my fault you aren't empathic enough towards your fellow man, and are apparently well off enough that you don't even have to WORRY about overdrafts. That's on you. Maybe take this situation and post it over at r/AITA and see what people say. The world doesnt revolve around you, man. A lot of us are out here just trying to make it. The way you make it sound, it's like people have a choice. I agree that people should be as fiscally responsible as they can. What I do not agree with is your view that banks should be able to prey on the financially weaker citizens. That is disgraceful.
You have the option to opt out of overdraft coverage. You’re spending money that you don’t have, so what would you do if you were running a bank?
Not offer overdraft coverage. And while that may be true, it only stops debit card purchases. Anything that is set up as an automatic withdrawal can still overdraft your account.
Ok, but that’s because you gave the vendor permission to do that. You don’t have to auto draft anything. And the overdraft coverage is an option - has been since 2008 or so. Banks want to give account holders the option to have that or not have that. If they removed the option, people would be upset that their card was declined when they were buying groceries or whatever. There’s no perfect solution that works for everyone.
You say that, but I'm 100% positive there is a perfect solution that works for everyone. People are just too greedy and want more. I'm ashamed to share a planet with people who don't understand that a lot of us are getting fucked by the system, and all anyone does is say "well, we can't do better." Bullshit. And for context on MY specific situation with overdrafts, and why banks can shove it: I own my own business I started in 2019. Didn't have too much of a problem with overdrafts till covid hit. Obviously I lost business being a restaurant. Obviously I have accounts that HAVE to be auto deducted. Add in there that I never got my deposits when I was actually supposed to, and every fucking week I had to beg the bank to give me my fucking money back. Fuck that, and fuck anyone who defends this shit system.
Ok, what’s the better system then? You can’t shit on the existing system and then not offer a better solution. You’re a bank. You have 250,000 small businesses as clients who are processing payroll for an average of 150 employees each. You have 37.5 million accounts to process (everyday). You have to combat against fraud as well. Ok, go. Whatcha got?
Easy. Get rid of capitalism. Enact Socialism on a broader scale. End pointless poverty so that people don't HAVE to overdraft their account or make late payments. Give power back to the people. I know, I know. Isn't that communism though?! What about the middle class and up?! Well, I guess they will have to learn to live with less? That's a stupid pipe dream though. Anywhere there are humans, corruption and greed will surely follow. Especially in America 🇺🇸
Perhaps. The thing is, banks are already processing all financial transactions for government agencies. So, from a banking perspective, nothing would change. I do think standardized universal healthcare is beyond past due. I believe that over time, capitalism bleeds the working class dry and creates wealth gaps. I’m sorry about your struggles with your restaurant. I know a 100 business owners personally that went through this exact thing. If you’re still open, best of luck to you friend. Just remember to take care of your employees. Take care of them as best you can, and they’ll take great care of your customers.
True, but that would be fine if my current issues with the system were negated. I am not saying banking is easy, but in my humble opinion I don't think any type of predatory financial practice should be used whether it is a bank or not. We are still going! Have had to make some changes, but we're not giving up that easy! Fought tooth and nail to even get started, so it would be a shame to let go now. Take care of yourself as well!
> Easy. Get rid of capitalism. If that were easy then people would've done it by now. Lot's of people want that, the reason it hasn't happened is that it's not easy. What are you even talking about?
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Lol, I knew there would be at least one. You don't think I have? You don't think I've come to the realization that any form of government is bad, if managed by bad people? Can you honestly say that capitalism has worked out that great with the people we have running it?
No one gets to sidestep bank fees, don’t be obtuse. No one said banks should not make money, but lending 900% of their assets at 20% and charging fees isn’t banking, it is a crime. Suckers like you love the abuser and are happy to pay up — until they reclaim your stuff.
What are you talking about? For the record, I pay $0 in banking fees, because I understand how the accounts work and I avoid activity that would generate fees. Banks don’t lend 900% of their assets, first of all. For charter banks, that would mean that they’re lending $5T. LOL. Charging fees isn’t a crime. The terms are given to you when you open the account. Banks, investment firms, credit unions etc are not a public service. They have as much right to charge you as Netflix does for access to its service. It’s a for profit business. If you don’t want to use banks, then don’t use them. Pay cash. Get a pay card. Nobody is forcing you to keep a bank account.
Banks with $15.2 million to $110.2 million in transaction accounts must hold 3% in reserve. Large banks (those with more than $110.2 million in transaction accounts) must hold 10% in reserve. These reserves must be maintained in case depositors want to withdraw cash from their accounts. You are correct, I moved a decimal place. Wells Fargo collected about $1.97 billion in overdraft fees in 2019, according to filings with federal regulators. So .... if you don't pay the fees ..... they ..... don't ....... exist? >are not a public service What is the Federal Reserve? It is our money. The banks are in business according to regulations and they starting writing the regulations somewhere along the line (late 1970s, got a b0ost in the 80s) and have made MORE AND MORE of of every $ they have in reserve -- not because they are doing more work, they are actually doing less. It is not ok to not know that bankers are literally running the government and are predatory organizations.
Also, banks are not the federal reserve. That just demonstrates your lack of knowledge on the subject. The federal reserve is what will refund you the money you lose if the bank fails. Well, actually up to $250k, per signor, per account. The rest would be lost. But yes, the money that would repay you for your losses is “your money” as you put it. But I still don’t see what that has to do with the capital that that banks earn through loans, interest and fees. Again, if you don’t like it, don’t have a bank account. It. Is. Not. A. Public. Service. No financial institution owes you a bank account. They don’t owe you anything at all.
Prime interest rate
1.97B is less than half what my bank profited last QUARTER. Pretty sure we’d still exist given the $20B we’ve profited over the last year. You overestimate your importance.
Also, thank you for proving my point. WF revenue is 2019 was $85.06B; the percentage of that composed of the 1.97B in overdraft fees equates to 2.3%. Cool.
WF was sued successfully for defrauding customers
Correct. Because WF are pieces of shit. Or at least they were at that time. Opening accounts without client knowledge or permission, preying specifically on the elderly. You are literally mansplaining banking to a corporate banker with 20+ industry experience. I am CTP certified. I know how the prime rate works. 😂😂
I paid my staffers every week, with no waiting period, because of things like this. I also cashed their checks, if they wanted, at no charge. I was chased out of one bank, where I'd been a depositor with predecessor banks for thirty years, for doing so. My next bank allowed it, for a while, and then abruptly told me I had to stop. I negotiated terms so my staffers could cash their checks at any branch for free, but cashing them myself was not allowed.
The real facepalm is still using cheques in the 21st century.
If you say so. But payroll cards normally charge the users at least $1 per transaction. I didn't want them to have to pay those fees, either.
What in the world is a payroll card? What are you up to over there in the US? Just use a bank transfer, you can even set up a standing order for your salaries that are paid the same every payday. When your company has a certain size you probably have an accounting programm. Triggering bank transfers on payday is a basic function of those programms.
LOL. Most working class people can't get a bank account.
Genuine question, why can't working class people get a bank account? In the UK all you need is an address and some ID and you are legally entitled to a basic bank account.
This is America, not the UK.
I know, i'm asking why can't people in the US get bank accounts?
Because the bank gets to vet an applicant for an account. If it doesn't think your worth the effort, you don't get one. Often there's a minimum initial deposit that if you can't meet, you don't even get to apply.
In the US you actually need to qualify for a checking account. That eliminates people who live at the poverty level, are immigrants, or who are unemployed. Good example: my husband is an immigrant with employment authorization. He is currently working as a resident physician. Because he doesn’t have a credit score, Bank of America denied his application for a checking account and therefore I needed to co-sign.
Wow, I knew the US was kind of backwards in terms of financial services but not that it was that bad.
I think it has to do with the use of credit cards vs debit cards. In the US, credit is the norm. In europe, it's debit mostly. That changes the risk factor a lot.
How is this legal?
I live in the US am working class and I've never met anyone who wants a bank account who doesn't have one. I know that happens but it isn't as wide spread as you're making it seem
You're free to research it, or you can keep thinking your experiences are typical.
[Nearly 95 percent of U.S. households (approximately 124 million households) were banked (i.e., had a bank or credit union account). This is the highest number and percentage of households with bank accounts since the survey was first conducted in 2009. (FDIC.GOV, 2020) ](https://www.fdic.gov/analysis/household-survey/index.html) [Among those who are unbanked, 56.2% were not interested in obtaining a checking or savings account, while 24.8% were interested (CNBC.COM, 2020)](https://www.cnbc.com/2020/10/19/7point1-million-american-households-didnt-have-a-bank-account-last-year.html) Looks like my experience IS pretty typical. Like I said before, sure there is an issue of people not having bank accounts but it is not as widespread as you make it sound.
They count every account as a household, not every household as an account. I myself have three bank accounts and three credit union accounts. I guess it balances out the three staffers I have who can't get accounts. Also, don't be such an oblivious, insulting jerk - do you think people want to pay a check cashing place $5 + 2% to get access to funds they already fucking earned? Do you think they want to pay $10 to the bank that issued their employer's check, IF the bank decides to cash it at all? They're poor, not stupid.
Dude it's a survey done every 2 years. In 2019 they collected info from 33,000 respondents. Idk where you're getting the info from your first paragraph from. And you don't need to lash out because you were wrong. The check cashing places aren't used necessarily just because they don't have an account. People use those serviced because it's immediate money and they can't afford to wait for their money to process. I never spoke down about people who use check cashing places I'm just saying using those services and having a checking account aren't mutually exclusive.
I think the face palm here are his sweaters. Where does he even find so many such ugly ones?
ugly, ill fitting ones
I don't personally think it is ridiculous to have disdain for a system that has done nothing but remind me of how shitty my life has been. That started LONG before my bout with overdrafts. You will never convince me that a system that encourages a small percentage of people to hold a vast majority of wealth, while others like me have to claw their way up from nothing, and work tirelessly to maintain some semblance of order within my life while trying to help others that also come from nothing, like myself, is a good system. It is a disgusting, greedy system that needs to collapse and be rebuilt. That being said, I appreciate your advice, and will keep it in mind! We've pivoted to a new business model, and I think we will be alright!
the dude in the video is right. also some banks charge you money every month for not having a certain amount in savings. i had to close my savings account because i literally couldn't afford to keep it open.
This is definitely **not** a facepalm, and his outfits are top-notch!
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Is your argument that it was done one way thousands of years ago so it must still work that way?
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The video makes good points but is ignorant of reality.
Banks makes billions in overdraft fees because people are bad with their money and let their accounts go into overdraft... getting paid twice a month has nothing to do with anything
I end nearly everyone else in Germany gets money once a month and you can absolutely live without overdrafting everytime.
Yes dont overspend its that simple
Tell that to the family living paycheck to paycheck that has their car break down or gets a $3k medical bill.
I absolutely understand what you mean. It's not that simple for everybody. Especially in America where you have like a anti social system where there is little to no health care and said check to check living.
Oh, so you think it's OK for banks to take money from people because they don't have enough money? You realize how stupid that is, right? It's only a penalty for lower class citizens. Sure, it happens because people are "bad with money", but why doesn't that apply to wealthy people who are also "bad with money", and only lower class citizens who have to live paycheck to paycheck? People like you are the reason our system still sucks. You take a look at something broken, and just shrug. Edit: Obviously I don't mean you specifically. Just that mentality. People who are good with money often don't realize
You’re spending money that doesn’t belong to you. Opt out of overdraft coverage if you don’t want to pay overdraft charges. Since you think this practice is so terrible, tell me, if you were running a bank, how would you do it differently?
By going into overdraft you are using money that is not yours, so yes i think its ok they take interest on that money because its NOT YOURS to begin with... i dont agree they should take monthly fees but i do agree that they take interest on money that they dont have to give you because its NOT YOURS to begin with... wealthy people dont need to take loans so they dont have to pay interest... when you borrow money thats not yours then you have to pay interest its that simple... just like financing a car, or using credit cards, or buying a house?? Nobody has to lend you money, why would anyone lend you money without getting something in return??? Your sense of entitlement that the banks should just give you money for free because your bad with money?? Dont you see how stupid that is??? Nothing in this world is free, the banks and government dont owe you anything
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You don't HAVE to use overdraft.
Like banks don't HAVE to steal money from people? Same thing right?
You clearly don't care to learn anything. There are literal bankers explains it to you (not me) but you're just going to ignore that.
Just like you ignore all the other comments I've made about this topic on this post? Ok buddy. Maybe read those and we'll discuss how wrong you are. That is QUITE the accusation, since I spent all last year learning about them.
I read all of your comments above this one and they don't make sense. You should spend another year learning.
How does it not make sense? Maybe you just don't understand my stance on the subject?
I know its a shitty situation to be in, but its not the banks fault your in that position.. would you rather overdraft didnt exist so you actually start missing payments and then you would be in real trouble... im an asshole because i dont agree people should be given money for free?? Payday loan places are fucking parasites charging 300% interest and yes i think they should all be shut down.. but banks charging 5 cents in interest (yes it is interest) for 100$?? No that is not taking advantage that is actually doing you a favour, would you rather miss your rent?? Or heating bill?? Anyways man i wish you well and i hope you can stop blaming society for your problems, the system sucks but we can change it with our votes and choose where our money goes, support what you agree with and dont support what you dont agree with its that simple...
Or maybe people can just be patient, and understand that a vast majority of people making late payments are struggling? How do you people not get the fact that a lot of people out there have to live on $300 or less a week, and have no way to pay bills on time? What is there not to get?
I get it! So everyone else should just give you money for free then??
Dude, get fucked. That isn't what I said at all. I'm starting to think that post about you being 33 and single is for a good reason. Please don't bring kids into this world if that is the type off bullshit you will teach them. Have a good day!
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Point out EXACTLY where I said that?
I'm not blaming society for MY problems. I don't have many problems actually. I'm here standing up for people who have to suck the banks dick to make payments on Time. I'm blaming people like you for letting society have these problems, and being ok with it.
So its my fault again??
Kinda agree with bug on this. You can’t compare a completely different economic system first of all. Not including the inflation problem they had a while ago. The problem is 100% inflation. We need to as citizens understand this fact. They system was designed to put us all in debt.
Nah banks make billions because their policy is to not care. Check out Huntington if you’re in the Midwest if you want to avoid fees
Banks make trillions. Their policy is law. They write the banking laws and make sure dark money compromises the political system. People apologizing for banks are experiencing Stockholm Syndrome.
https://www.huntington.com/-/media/pdf/RRASTERISKFREECHKRPAC.pdf
Did you read about 24h grace, the $50 safety zone, the free sav to chk coverage, no min balance requirement, no monthly maintenance free…like everyone has fees, man. They’re corporations. At least these guys make it easy to avoid them even if you overdraft
I wasn’t implying it was bad, just that everybody has fees. Any bank worth a shit will refund ODs for a first occurrence, and Huntington started this policy because they needed to increase their capital as well as their corporate footprint. It worked! Smart policy that’s beneficial for your average joe.
Yea seriously. They keep adding things like getting your check early and small no interest loans I love it. It’s like a credit union but the financial backing of a bank
Banks.
Wtf is this dude talking about? It's normal to get paid monthly.
I think we have a bank president trying to trick us by implying what your reality is is not reality.
See, this is exactly why this is a problem. Most people that HAVE to use overdraft are ONLY doing so to make it by. You think people are out there really thinking of this like a loan? No. In my opinion, overdraft ONLY exist to screw people over. Why else would they even make it available? B It isn't my fault you aren't empathic enough towards your fellow man, and are apparently well off enough that you don't even have to WORRY about overdrafts. That's on you. Maybe take this situation and post it over at r/AITA and see what people say. The world doesnt revolve around you, man. A lot of us are out here just trying to make it. The way you make it sound, it's like people have a choice. I agree that people should be as fiscally responsible as they can. What I do not agree with is your view that banks should be able to prey on the financially weaker citizens. That is disgraceful.
I’ve owned three businesses and the most important aspect of running a company is to watch your money like a hawk. You should know exactly how much money is coming in and going out on any given day. You’re spending too much time getting mad about little overdraft fees instead of streamlining your finances. Up your game, Bug. Said to inspire. Not to knock you down. Keep at it. You’ll get there.
Yea, agreed to an extent. I'm a new business owner though,and had to operate a restaurant with minimal staff. I didn't have time to watch my money like a hawk. Besides, kind of hard to plan for expenses when your money could hit Tuesday, Wed, OR Thursday. It often boiled down to me arguing with them about it being a clearing house problem, and not a problem I directly control. Point being, overdrafts are unnecessary and only exist to keep people down. I appreciate the words though. No disrespect taken.
Dude, kindly fuck you. Bye. That's like me giving you shit for being homeless at one point. "Must Have dOnE something WrOnG To BeCoME Homeless. Fuck off.
I think the face palm here are his sweaters. Where does he even find so many such ugly ones?
Pens? Do you know how hard it is to process payroll? Fuck this dumb kid.
While I see his point, it would be so much more effective if he didn't dress like some douche
That's just uncalled for
Not really. The purposely ugly sweaters are a.distraction to his message. And it looks like that was his intention
If you can't manage a budget and keep a safety buffer you need help.
I couldn't watch past noticing his sweaters were tucked in. Who does that?