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  #1  
Old 10-13-2010, 08:33 PM
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My wife got her bank statement today for her (newly established) business account. Low and behold....there was a charge of $29.20 for depositing too much money in the account. I will be at Capital One tomorrow morning bright and early to withdraw said money from that account. Never heard of such.
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  #2  
Old 10-13-2010, 08:39 PM
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Damned if you do and damned if you don't...
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Old 10-13-2010, 08:42 PM
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I just glanced over a pamphlet from Capital One. It's entitled, "Small Business Service Charges for Louisiana". Is this a state law or something? Does anyone know if all banks do this? If so...we're buyin' a bigger freezer!
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Old 10-13-2010, 08:55 PM
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OK, it appears that, once you reach a $5,000 balance in your account, you are charged a fee for every $1,000 in deposits for the entire cycle. this!
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Old 10-13-2010, 09:08 PM
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Salty, ya definitely have to read the fine print on small business checking accounts. i had to open two checking accounts so that i didn't receive any charges and then keep a minimum deposit in one. some of em charge you if you process too many transactions, etc.

complete racket
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  #6  
Old 10-13-2010, 09:20 PM
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Salty all banks charge for business accounts. It sounds like you are in a free business account. With free accounts there are regulations such as amount of transactions amount of cash deposits and so forth. If you have any questions please pm message and I'll be glad to help
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Old 10-13-2010, 09:26 PM
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Quote:
Originally Posted by cajunforeman View Post
Salty all banks charge for business accounts. It sounds like you are in a free business account. With free accounts there are regulations such as amount of transactions amount of cash deposits and so forth. If you have any questions please pm message and I'll be glad to help
Yep, I read something about that. Do I need to change banks or do they all do this. It's my wife's account but she told me to "take care of it". Big mistake.
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Old 10-13-2010, 09:29 PM
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You can just keep the money in my account, I won't charge you a penny and I promise you'll never see it again...
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Old 10-13-2010, 09:34 PM
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Quote:
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You can just keep the money in my account, I won't charge you a penny and I promise you'll never see it again...
thats funny
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  #10  
Old 10-13-2010, 09:37 PM
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They all do this. It says completly free but there are rules. Capital one was one the first banks to offer a free business accounts. A different probably has a free account but they have rules also. Most personal accounts are free because we don't usally have a large amount of cash deposited in them. When you step into a business account it's a whole nother ball game. The banker should of went over the stipulations when she opened the account
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Old 10-13-2010, 09:40 PM
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Quote:
Originally Posted by cajunforeman View Post
They all do this. It says completly free but there are rules. Capital one was one the first banks to offer a free business accounts. A different probably has a free account but they have rules also. Most personal accounts are free because we don't usally have a large amount of cash deposited in them. When you step into a business account it's a whole nother ball game. The banker should of went over the stipulations when she opened the account
Must notta.....she was as shocked as me. I'm gonna go there tomorrow and see what her options are. I might PM ya tomorrow night....if it's ok? You a banker?
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  #12  
Old 10-13-2010, 09:41 PM
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You can just keep the money in my account, I won't charge you a penny and I promise you'll never see it again...
Ross, I'll run it by her and get back with ya.
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  #13  
Old 10-13-2010, 09:51 PM
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and they will prob hit you with an early closure see when u go to close it.
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Old 10-13-2010, 09:52 PM
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Make sure you're a signer on the account if not you will be just wasting your time because they want give you any info. Yes, I'm a banker
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Old 10-13-2010, 10:09 PM
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Don't work for capital one but a competitor and we charge the same fee. It is called an immediated cash verification fee. You can reduce the amount of these fees by using the night drop. Banks usually let you deposit $2-$3k before before the charges start.
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  #16  
Old 10-13-2010, 10:13 PM
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Quote:
Originally Posted by cajunforeman View Post
Make sure you're a signer on the account if not you will be just wasting your time because they want give you any info. Yes, I'm a banker
Yes, I am on the account. Like you said.....it's pointless, otherwise.
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  #17  
Old 10-13-2010, 10:17 PM
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Quote:
Originally Posted by Loneshark View Post
Don't work for capital one but a competitor and we charge the same fee. It is called an immediated cash verification fee. You can reduce the amount of these fees by using the night drop. Banks usually let you deposit $2-$3k before before the charges start.
Sometimes we have 100 lbs in quarters so the night drop is not really an option.
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  #18  
Old 10-14-2010, 06:45 AM
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Quote:
Originally Posted by Salty View Post
My wife got her bank statement today for her (newly established) business account. Low and behold....there was a charge of $29.20 for depositing too much money in the account. I will be at Capital One tomorrow morning bright and early to withdraw said money from that account. Never heard of such.
Welcome to Hope and Change!!
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  #19  
Old 10-14-2010, 08:02 AM
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Quote:
Originally Posted by Salty View Post
Sometimes we have 100 lbs in quarters so the night drop is not really an option.
if they keep charging you that fee, i would take that one hundred pounds of quarters, go to the drive through and see how many you can put in the tube and send them to the teller, keep doing that until you have all one hundred pounds deposited. i bet that would make them happy.
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  #20  
Old 10-14-2010, 10:20 AM
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Well, it appears all banks do the same fees. I was gonna switch my wife's account over to my bank, but, they got fees, too. There are a couple of options of switchin' money around to get by the fees, but, seems to be too much trouble. Guess we'll live with it.
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