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Well-respected bank offering Payday loans
3 comments. Current rating: (1 votes). Leave comments and/ or rate it.
A so far well-respected bank - 'US Bank' offers payday loans now. I could not believe it!
This morning I logged in to verify some checks had cleared and I saw a new symbol saying "Request Checking Account Advance"
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U.S. Bank's Checking Account Advance allows you to request an advance on your next direct deposit.
Key Features:
* Advance cash immediately into your checking account.
* Payoff of advance and finance charge is automatic. Payments will be deducted from your checking account with your next direct desposit(s) of $100 or more, or, if not fully paid, on the final payment date, which is the 35th day after your advance.1
* Finance charge is $1 for every $10 advanced (120% APR).
* Advance between $20 and your limit. If your checking account is overdrawn, you must advance enough to bring your account to a $0 balance.
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Below a screenshot as 'proof'.
At least they put the APR in there, in bold letters. It is probably required by law in California. The red arrow was added by me.
What are your comments? Are they trying to ruin people?
A few weeks ago, I noticed a banner saying "Equity Line - Why not?", luring people into spending the equity that they have in their homes. I guess payday loans are the logical consequence. What will come after that?
My opinion is: this bank is going too far to make profits. Everyone knows that these payday loans are a big trap and nothing good will ever come out from it. What makes me mad is that I closed my credit union's accounts 2 months ago and switched over to US bank. They have a local branch with good opening hours, plus a good HELOC (Home Equity Line of Credit) at prime - 1.01%, that's why I went with them.
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[hidden] from United States
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tim.manoogian@us.army.mil
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I keep getting e mails like this promising a lloan if you pay an up front fee.
Anybody else see this before?
thanks
HELLO
YOUR LOAN FUNDS WILL BE TRANSFER TO YOU JUST TRY AND COME UP WITH $100 ASAP SO AS TO ENABLE MY BANK TRANSFER YOUR LOAN FUNDS DO GET BACK TO ME WITH YOU WESTERN UNION INFORMATION
> To: terryfinanciallender@hotmail.com
> Date: Tue, 8 Sep 2009 07:13:11 +0200
> Subject: Re: RE: LOAN UPDATE
>
>
> I have no fee money.
>
>
> ----- Original Message -----
> From: Mr Terry Hook Hook <terryfinanciallender@hotmail.com>
> Date: Sunday, September 6, 2009 5:05
> Subject: RE: LOAN UPDATE
>
>
> >
> > Hello,
> >
> > I got your mail and then content was well understood.One
> > important thing you have to Note in International Transaction is
> > the fact that Trust,Understanding and Co-operation is highly
> > needed as to enable both the Lender and the Borrower Develop
> > Understanding for one another.Another Thing you have to Understand
> > is that it depend on the Firm the Loan Fund is Coming from that
> > will enable you Know if the Transaction you are Transacting is
> > Legit or Not.Your last emails are giving me signs that you will
> > never know what i am about to do for you.I have never involved
> > myself in any form of Scam Activities and I see no reason why you
> > should be taking this matter too far to that extent.I do what
> > pleases me because I noticed that those who does what pleases them
> > are the once that receives reward from God mostly.
> >
> > I am a Man of high reputation. Just that I don't like bragging
> > with what I have done for people. If you must know, I have
> > customers like you overseas who receives their loans successfully.
> > I have feelings for people all over the world especially the ones
> > that are not financially stable ,this is due to the fact that i
> > have been like that before and during the period that i was in
> > that state,nobody treated me wrongly so treating somebody that
> > need help wrongly is wickedness of which i am not a party to.Even
> > though you are not interested i am not worried but i just want you to know that the ability to trust somebody will get you back to
> > your feet. It is a common rumor in Canada that if you are
> > applying for a Loan,And you are told to pay a fee,It will them
> > seem to be a Scam but i want you to know that trusting me and
> > doing business with me will not make you disappointed.This i
> > assure you.
> >
> > It is very clear to my understanding that you are trying to let me
> > know that this is a scam. This is interesting but not impressive.
> > Most failures in life are people who never realize how close they
> > where to success when they gave up.This is an opportunity for you.
> > And I will do every thing possible to make sure that you grab this
> > opportunity. This issue of you calling this transaction a scam
> > will not contribute positively to this transaction. This is
> > because when their is trust in business, business
> > excel.Transactions like this are hard to believe,only the end can
> > tell.Hope you are used to this phrase'the ends justify the
> > means'.No body is interested to know how you started, they will
> > always want to know how you will end.Surprising things are more
> > appreciateble than non surprising things,I am going to put a
> > surprise in your face as long as this transaction remains.
> >
> > An urgent message will be highly appreciated immediately you are
> > done with this message.i am not like others which you thought. I
> > want you to note that there is no way i can help you pay for the
> > fee you have to try and come you with the fee ..and once this fee
> > is send out today your loan funds will be transfer to you with out
> > any delay.. I am not taking your money but it is also an evidence
> > that you loaned from my company so that if you are unable to pay
> > back, I can use that payment as a prove that yes you ask for a
> > loan then also showing the western union slip which has your name
> > on it I will advice to try and get These Payment made So that
> > they can get your Loan Funds Transferred to you. I guarantee you
> > that as soon as they confirm the payment, Your Loan funds will be
> > Transferred to you without any further delay.
> >
> > Mr.Terry Hook
> >
> > > > > > To: terryfinanciallender@hotmail.com
> > > Date: Mon, 13 Jul 2009 14:51:51 +0200
> > > Subject: Re: RE: LOAN UPDATE
> > >
> > >
> > > yes i want the loan.
> > >
> > > If you want me to pay a fee 1st than you give the loan. never
> > mind .
> > >
> > > maybe you are a scammer
> > > ----- Original Message -----
> > > From: Mr Terry Hook Hook <
> > > Date: Monday, July 13, 2009 14:19
> > > Subject: RE: LOAN UPDATE
> >
> > >
> > >
> > > >
> > > > I WILL LIKE TO KNOW IF YOU ARE WITH YOUR PHONE AND WERE ARE YOU
> > > > FROM DO YOU RELLY NEED THIS LOAN TELL MY I DO NOT WANT TO CALL YOU
> > > > FOR NOTHING OK
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anonymous from Nairobi, Kenya
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Attn
Get a loan today at low rate apply now loans are given at a rate of 3% apply now this can increase your business to a greater hight. We are offering Loan to business and personal people, if you need a Loan to start up a business or Loan to pay off bills do contact us now and get a Loan from our Company...I render the best Loan services My regardS CONTACT US AT ; johnson.williams93@gmail.com
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