Customer Reviews

Your Bank Is Ripping You Off: How to Fight Back and Save a Fortune

5 star:		(5)
4 star:		(0)
3 star:		(0)
2 star:		(0)
1 star:		(1)

 

 

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.

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!

Your Bank is Ripping You Off -- it's true, of course they're ripping you off! But only because you let them. ATM fees, overdraft fees, stop payment fees, credit card interest, mortgage loans, car finance charges, credit life insurance, late charges, credit turn downs -- the list goes on and on. If you'd like to cut your cost of banking, this is THE exposé. It's a great value. Keep it next to your bank book!

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.

Mr. Mrkvicka does a wonderful job of elucidating the mechanics of banking. He writes in a clear style that is very easy for the "layman" to understand. The information is topical and meaningful for consumers. This book should be read by anyone dealing with banks: it gives all of us very important insight we can use in our daily financial lives.

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.