Pay Hundreds To Get Your Tax Refund Check Today, Bank Still Holds the Check 10 Days (Refund Anticipation Loans Suck) + BofA Sticks it to Venmo Users

<p>Tax time was always important to me at the bank. It is one of the busiest new account times at the bank. So many people setting up bank accounts in anticipation of or after the receipt of their income tax check. One of the things that I saw in 13 years of banking are <a href="https://www.jacksonhewitt.com/refund-advance/">Refund Anticipation Loans,</a> where people pay a little extra to get a paper check to "cash" that same day. It involves a credit pull and a big fee usually. Well, Banks for years have screwed over those who get those Anticipation Loan Checks by holding checks up to 10 business days after deposit.&nbsp;</p> <p>I called it a scam then and now. Tax preparers sell you on the quickness of something they can't verify with a big bank like Bank of America and Wells Fargo. I discuss the process and tell some stories from my past.</p> <p><br></p> <p>Then, I also got a couple DMs about Bank of America now charging Cash Advance Fees for people to use their Credit Card for Venmo Payments. <a href="https://help.venmo.com/hc/en-us/articles/224361007-Fees-Venmo">Venmo actually updated their terms as of 4 hours ago on Feb. 14, mentioning the updated policy.</a></p> <p>I get into &nbsp;how I believe that it's a method to get people to use Zelle more often, and to discourage use of competitors by penalizing something that wasn't penalized before. A lot of millennials will be impacted by this! Not cool, BofA. (To be fair, Other banks are contemplating this change too)</p> <p><br></p> <p><a href="https://anchor.fm/dashboard/episode/ea3ugv/metadata/patreon.com/notoriousbanker"><strong><br> patreon.com/notoriousbanker</strong></a><strong> - Donate to the pod - Help Me Fight Back!!!!</strong></p> <p><strong>james@notoriousbanker.com - email if you have more info on more locations</strong></p> <p><strong>575-322-4127 - VM Line.</strong></p> <p><a href="https://anchor.fm/dashboard/episode/ea3ugv/metadata/twitter.com/bankbetterguy"><strong>@bankbetterguy</strong></a><strong> on Twitter - DM ME</strong></p> <p><br></p>