These days this society has made it almost impossible to survive financially without having a bank account. If you overdraw your account by a few cents and get charged 30 dollars or more.  Sometimes you get more fees if more charges are made while your account is overdrawn.

For example… You have $1 (one dollars) in your account. You didn’t realize this and you happen to buy milk for your kids that end up costing $4 (four dollars). So now you’re in the hole $3 (three dollars). You already going to get charged $30 (thirty dollars) automatically. So in reality, you’re in the hole $33 (thirty-three dollars).  BUT, that’s not good enough for the bank.

So you get to the car and forgot that you also needed diapers for your baby. You go back in the store (without realizing you’re in the hole $33). You buy the diapers, and for the sake of this post, the purchase costs you $5 dollars.  So now you’re in the hole $38 dollars, right?  WRONG. The bank will charge you another $30.  So at this point you are in the hole $68 dollars!

BUT WAIT! You don’t have enough gas to get home, so you NEED to stop and get gas.  You only put $5 dollars, barely enough to make it home.  So if you get my point by now, adding those $5 of gas to the $68 dollars you already owe, plus the new $30-dollar fee the bank will charge you, you’re in the hole $103 (one-hundred and three) dollars!!!!

If you break that down, you spent $14 dollars on Milk, Diapers and Gas in order to provide for your family.  The bank charged you $90 dollars of fees in order to provide for stockholders. So who really wins by having a bank account? Definitively not poor people.  At least with cash, if you don’t have it, then you don’t have it, and you have to figure it out.  But the current banking system creates an endless cycle to keep poor people in debt, and no one seems to give a damn.

You can’t hardly do anything if you don’t have an ATM and/ore bank account these days. How do you cash checks without being charged to get YOUR money?

Oh, and if you owe the bank you better pay it! Because they’ll send you to their own special collection agency called Chex Systems.  If you get on their list, you will not be able to open a bank account anywhere for any reason. You won’t find many rich people on Chex Systems, since they only target people who can’t afford to pay the outrageous fees that banks charge.

Is there any change coming regarding this and other banking scams? Nope. Financial oppression is oppression, no matter what you call it. You can call it “fees” or “costs” but I call it oppression. People are financially oppressed by the banks and no one seems to give a damn.

I’m not a fan of political injustices, but there’s not much I can do.  Here’s a clip of an episode of my show Ceasar & Chuy that exemplifies this very issue. You can watch full episodes of Ceasar & Chuy at Mun2.tv

[youtube http://www.youtube.com/watch?v=CaVcDnmkEXU&w=480&h=360]