Hi guys and gals, your friendly neighborhood BOBDANGIT here. I hope the beginning of your week is much more profitable and productive than mine has been thus far, lol. It has to have been. Let me explain.
So I have decided to dabble in the stock market. Mostly as something to do but, make no mistakes, I have huge delustions of granduer, lol. Alas, I am but the Lamb of Wall Street at this point. I found a pretty hot little stock and was seeing some really good gains (patting myself on the back). I was up 40% with more profits on the way. UNTIL, somehow a random $10 direct withdrawal from the STASH APP (saving app I tried in March 2017) hit my account -OVERDRAWN- !! That will be an additional $38 dollars Mr. Evans :(. Oh and for that we will refuse to honor the $55 deposit request from Robinhood App (my investing platform). (that will another $38 dollars Mr Evans!!). I scream and say NOOOOOOOO, and immediately open RobinHood and see YOUR DEPOSIT FOR $55 was not honored by your bank (THAT WILL BE ANOTHER $40 Mr Evans) and your account is suspended until you cover your margin call (now -$108, there goes ALL MY PROFIT!!).
I call my bank to ask how they charge me this outrageous overdraft fee AND NOT HONOR THE DAMN DEPOSIT!!! and explain the circumstances. WE APOLOGIZE AND WILL REVERSE THE CHARGE>REALLY? It gets better, I call the STASH INVEST PEOPLE to ask HOW IN THE HELL DOES A DIRECT DRAFT JUST RANDOMLY START?? I told them I dont even have access to the email I set that account with and cant log in to see what the hell is going. You know what the guy said “It looks like it lost connection to your bank, and somehow just reconnected 3 weeks ago..? (WHAT THE F@#$!!). I politely ask him how that is even possible when I changed both the USER NAME and PASSWORD to my checking account? (long silence)……..”ummm well its on a different server, so once access is granted your user name or password no longer factor into whether or not we can take money? (WOW!!!). I politely inform him of the DOMINO EFFECT this had on my personal finance and all I get is “We apologize, we will refund your deposits and close your account ASAP.” I ask, “and all the fees I have absorbed?”….”We have to refer you back to your financial institution, sir”
So out of pure frustration I say, quite calmly, “WHAT COLOR IS AN APPLE?”, lol. The guy says “Excuse Me?”.
“I JUST WANNA MAKE SURE I AM NOT TALKING TO A ROBOT? WHAT COLOR IS AN APPLE?” I asked again. Long silence, “I dont understand the question, what else can I do to help?”….”NOTHING”, I thanked C3PO and hung up after receiving assurance and a confirmation email my account was closed (of course there is a 7-10 business day wait for all outstanding accounts to be settled (even the $30 ones that cost the customer 4 times in overdraft fees). I call the bank back get another $38 overdraft fee reversed (only two permitted per day even when they give unauthorized access to you account).
So i got as much as I can returned to me, I am still in the red even when you factor in the nice profit I made on the two trades. SMH!!! I wonder how often this happens and people just don’t call or are too afraid to try to get to the bottom of it. I am not too down or upset, it is ONLY MONEY, and I will take or leave it. In my opnion there are many more important things to dedicate my time to, fighting a losing battle over a corporate hustle to charge the poorest of the poor out of trying to invest is not one of the those things.
However, this is happening though, and I am enjoying myself passing on this information to you. Hopefully, you will learn from my “error”, lol. Have a great rest of your week.