- Report: #950674
Report - Rebuttal - Arbitrate
Complaint Review: First Fidelity Bank
First Fidelity Bank5101 N. Classen Oklahoma City, Oklahoma United States of America
First Fidelity Bank Charges $5 to cash a check written by one of their customers. Oklahoma City Oklahoma
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I was dumfounded that a bank would charge me to cash a check that one of their customers wrote to me. I spoke with a manager and was told that the bank had done a study and it costs the bank about $5 in time and effort to cash a check for a non-bank customer. Of course, they would be happy to open an account for me. I declined and the manager asked why I needed cash, and asked me if I had to cash the check because I was overdrawn at my own bank. What a turd!
I did not cash the check but went and deposited it in my own account.
What a horrible business practice. It seems to me that this policy targets the poor and those who don't have bank accounts. If I did not have a bank account to deposit the check, I would have had very little choice but to pay the one percent fee just to get MY money. What if the check had been for $100? A $5 fee would be five percent of the check value. Although this was not a loan, the term "usury" comes to mind.
This report was posted on Ripoff Report on 10/04/2012 07:26 AM and is a permanent record located here: http://www.ripoffreport.com/r/First-Fidelity-Bank/Oklahoma-City-Oklahoma-73118/First-Fidelity-Bank-Charges-5-to-cash-a-check-written-by-one-of-their-customers-Oklahom-950674. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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