Great Book!

My favorite, is the fact that the banks invented ATM and debit
cards so that you would accidently overdraw your account. The banks accutually love it when you do that. They get to charge
you for this little error.
Actual cost of overdraft of a check:

Computer Cost: 0.25
Employee's Processing cost: 0.50
Mailing cost of OD notice: 0.32 (not current rate)

Total 1.07

Now is that what they charge you no, they make a tidy profit
about $24.00 if the charge was $25.

He tells you ways to find the best mortgage, how to find an alternative checking account, and better ways to save that just letting the bank hold it for you.

He states how to negotiate with the bank IF you choose to get a loan there. He tells you how points on a loan are like addiditional dealer profit that car dealers charge you for doing nothing!

He also says how most banks' safety deposits can be jimmed with a screw driver and other reasons not to use them.

He gives a few phone numbers on where to purchase mail order checks at half of what the bank charges.

He also gives ways to find out if your bank is safe. But what about the FDIC. He gives reasons why that little FDIC sign at the bank should not be helping you to sleep at night.

IT is a must read for anyone that uses a bank!

There is so much more in the book, this is just the tip of the
iceberg!

This has to be the best book ever written on the subject of consumer banking. It deserves more than five stars. It was given to me as a present from my father with a note that read, "This should be read by every bank customer in America and taught in every school." With that grandiose prelude I was expecting to be disappointed - I wasn't. No matter what the service, it's covered in detail. And most importantly, it's not just what I call a "gripe book." In addition to explaining how we're being ripped off, the author shows us how to fight back. Since I read it I now receive virtually all my banking needs for free instead of being nickel and dimed to death. Last month I purchased a new car. Following the advice in the book I saved over $1,000 on the bank finance and product charges that were first offered to me. I realize now, after reading this book, that banks depend on us (the consumer) not knowing how they play the game - and because we don't understand, and are often intimidated, we are grossly overcharged for services. That's not going to happen to anyone who reads this book. One last thought - this is the first financial book I've ever read that I enjoyed and could completely and totally understand and put into immediate use. As I said, this book deserves more than five stars.

I understand that financial analysts or banking professionals may disagree, but the information in this book is priceless to someone who knows little about how banks *really* operate and view the banking customer. After reading this book, I never want to use the "services" of a bank again.

True, i'm often highly suspicious of any institution with ties to the government, but with this book I was finally vindicated of my concerns.

It is safe to say that, to the layperson - someone who isn't biased(works for a bank) - they'll never see the banking system the same again after reading this book. It is a MUST HAVE if you have ever wondered why YOU have to pay (in some cases) THEM for a checking account. After reading this book, my thoughts changed from "$10 is cheap" to "they should be paying ME to let them hold my paychecks." It is also a must is you have ever wondered why you feel submissive to THEM, in dealings with your bank.

I had many "run-ins" with a bank last year, and although it didn't save me the pain from dealing with them (too late, unfortunately), it was an awakening and explanation to their banking practices.

I'll never open a checking or savings account again. It paid for itself in the first few pages.

This book is liberating!!!

Leo - out of the system now.

This book is riddled with faulty analysis and inaccurate information. The author doesn't understand simple concepts (like the time value of money and the home mortgage interest tax deduction). You're better off reading "The Truth About Money" if you want a good financial guide.

What a informative book. Where do I click to give a 6 stars rating? I have a limited knowledge of the banking world. I will certainly use the information for my first home purchase. I am so happy he wrote a book like this. He should receive a medal from Consumers' Union.