This is the Dumbest Bank Offer I’ve Ever Heard
There’s a bank I hate. You know, the one I was with for many years but they didn’t think I was worth $4.00, so I closed multiple accounts all in one day? Then they reversed the $4.00 charge to persuade me to stay, but I told them to KMA in bank-anese? Yea, that one. Well they sent me a dumb azz email today with an “exclusive” offer for its “most valued customers” only.
From the email:
Extra Cash Online is supplemental income insurance that helps you cover your expenses if you can’t work. Get cash each month paid directly to you when you’re not receiving a regular paycheck due to a covered event.
First of all, this is clearly referred to as “supplemental income” insurance so let’s not confuse it with the useful benefit of “disability” insurance. In that case, WTF is a “covered event” and how do you determine “if you can’t work?”
Can I quit?
Can I get fired - on purpose?
Can my child be sick?
How about if my dog is sick?
What if I just feel like taking a month long hiatus for mental health purposes?
Oh, and it will only cost you $9.30/month if you want to receive a $500/month payout for 3 months. But remember, it’s only if “you can’t work” due to a “covered event.” Ambiguous much? And it gets better! That’s only the standard plan. You can pay from $10.65 to $20.75/month if you want to extend the $500 payout to 6 months or receive a $1,000 payout for 3 months.
The extra cash plan is flexible and affordable! Whichever option suits your needs and your budget! Sign up right away…it’s quick and easy!
[/sarcasm]
That’s a bunch of bullshyt. How about you keep your money, screw the bank’s profits, pay yourself FIRST, and create your own “extra cash” plan. Hmm…the setup is awfully familiar. It reminds me of something. $500-$1,000? 3-6 months of expenses? Use it only when you need it? By golly, that sounds a lot like an emergency fund to me. Wow, what a novel idea!
*blank stare*
This is simply bait for poor people who don’t know any better. And we wonder why the rich get richer while the poor get poorer.
*sigh* I hate that bank even more now.
[/rant]
~*~*~*~*~*~Work to achieve, not to acquire.
And as always, BE FABULOUS!
If you enjoy reading this site, don't miss a thing! Subscribe to Fabulous Financials via email or RSS feed so you can receive notifications when I publish new content.
5 comments:
Write a comment:
Want an image next to your comment? Get your Gravatar here!
Have you read the Fabulous Financials comment policy lately?
Totally preying on peoples current recessionary fears. Ug.
Don’t you just love when banks send ‘offers’ to their most ‘valued customers’. It is part funny, part insulting really.
I’m convinced that there is no financial institution that I will ever truly like. And this kind of stuff is the reason why.
I’m buying an emergency fund too. Only I know it’ll cover any event I feel is qualified, because I’m my own banker, mwahahahaha.
That’s pretty sad. I wonder how many events really truly “qualify” with them…I’d bet none.
Exactly! It’s really unfortunate because I know many people with a “monthly payment” mentality who will think this is a good deal. [-SM]
I’d pay $9.30 a month for $500 a month.
Sign me up!… oh.. wait..