Bank Of Oklahoma Fees and Humor

[Model 70]

I walked into the BOK branch across from where I work with a couple of checks in my pocket from weekend work. Thought that I would just cash them and save a trip to my own bank since I am pressed for time this evening with another side job. The teller was pleasant and made some conversation while I was endorsing the checks. She was encouraging me to think about opening an account with them just before the axe fell..........
Her: You do know that we charge $6.50 to cash each check?

Me, without thinking or blinking: "Damn, Does that come with a free jar of Vaseline?"

Her supervisor was standing about 4 feet away watching three tellers doing absolutely nothing, but chimed in, "Sir, you should probably leave."

I did.

I wonder if this pays for their account holders "free checking" or if they even offer that?

 

[dieseltech09]

Why would they cash checks for you for free if you dont bank there?

 

[HMFIC]

It's a fee they charge to cash checks written on business accounts that don't have the higher level paid type accounts. It happens when you try to cash a check in person written on a BOK account for a business that doesn't have the higher level account. It used to be $6.00 I think? Keep in mind this is only when you try to cash in person.

Anyway... I think it's BS. I would have thought that a check written on an account is payable by that bank no matter what level of account the writer has and I'll bet that banking law will eventually rule in favor of the person cashing the check.

To be fair though, I'm not sure if other banks practice this or not... could be everyone, my experience has only been with BOK though.

 

[HMFIC]

Why would they cash checks for you for free if you dont bank there?

Because a check is a promise from the account holder to the person written that their bank will pay those funds. Fees to cash a check at the bank on which it was drafted go completely against the whole idea of writing a check. You can't say... I promise that my bank will pay these funds ONLY if you have an account there too or if you deposit in your bank and have it all paid via transfer.

 

[swampratt]

weokie charges $1 for any check cashed if you do not bank there.
I told them i will not bank with them because of this...
I have 4 bank accounts with different banks..
If i was to pay someone a check and they went to cash it and got less than the face value i would feel i stole from the person...
That money ain't their money( the banks)..plain and simple

 

[david04]

I believe they do it at Bank of America, too. Burns me up.

 

[gfercaks33]

MidFirst does not charge to cash checks on them.

 

[Glocktogo]

Banks are far less scrupulous than the common street whore. They'll do anything for a buck. Anyone should be able to walk into a bank and cash a check drawn on one of it's accounts for free. The bank should charge the necessary fees on the account holder. Most often, they're double billing for the same thing though.

 

[Relentless]

I've never been charged a fee for cashing a check from the bank the account was for, I don't often take checks anymore though

 

[HMFIC]

Here's a little more info on it.

I just learned about this a year ago when I tired to cash a check from a business written on a BOK account at their branch and was told about the fee. Evidently, this is part of the way banks are having to make money since interest rates have been totally screwed up by our .gov and they can no longer make much money on the spread. I still think it stinks... but you can somewhat blame the Federal Reserve too.

http://www.ehow.com/about_7346135_can-fee-non_customers-cash-check_.html