Friday, November 2, 2007

The Big Bounce

Hmmm. The coffee is not cutting this one. Looking at yesterday's mail, I notice that one my client's checks bounced recently. Yikes. Sadly, this does happen, even to those of us with the best intentions. Many of us have been on both sides of this expensive fence and seen the domino effect it has in increasing bank charges to one and all.

And so, I breathe a heavy sigh. The bounced check is from a client who was recently laid off and is working on self-esteem to get back into the work force. We have been increasing his positivity about this situation and how it is a new beginning, a chance to do what he has always wanted to do (he has yet to figure this out). And now this. Well, guess it will be a test to see how well the hypnosis suggestions have worked to keeping him positive.

You know, though, it rather incenses me. Not the bounced check so much, but the banking fees that he will face. And I know, we can talk about responsibility all day long, but it will not change this that has come to pass.

And you know there is actually someone doing something about this in Britain. Soon their Office of Fair Trade will be doing an inquiry into this and have frozen all claims against banks regarding these fees. For those across the pond, they pay between 25 and 38 pounds for bouncing checks. According to a BBC money program, with the technology increasing efficiency with transactions, the cost should only be four pounds. Think how much banks make on all these Unfair Bank Charges. There is a company there that is now helping people with excessive charges called Keypoint, so that is a positive step.

I really think the US should consider looking into such fees, but I guess over here, we are a little side tracked.

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