USA Bank - Problems At US Bank
The UPSO has found a lot of problems with US Bank, which they made their new name UPSO (Unsecured Personal Service Order) so that they will be able to control the flow of money in US Bank. The US Bank problems are seen by UPSO as a form of fraud and they call on US Bank to restore the trust of US Bank customers.
So, what is happening with US Bank? When US Bank issues an account number the bank generates a few thousand dollars worth of revenue each day. Unfortunately the US Bank has millions of customers who have opened accounts without the knowledge of a close relative or friend and as a result have now lost trust and confidence in the bank.
The US Bank executives refuse to comment on the situation but they have said that the percentage of frauds associated with US Bank accounts is extremely low and if fraud was not a problem then they would not be closing the US Bank accounts. The problems at US Bank can be found in the thousands, but it's the small problems that tend to get out of control. The public relations firm makes a statement that reflects negatively on the bank and more customers turn to UPSO.
The problem at US Bank is that more people open the US Bank Account expecting to receive a Personal Services Order (PSO). The next thing you know the bill arrives and in an attempt to prevent the use of large amounts of money on food and gas the bank uses the PSPO tactic. You have probably heard the expression that money is what you make of it, when used correctly it can be a very powerful weapon.
Many people do not think about the possibility of their US Bank account being closed and have only received the USA Form 500 from the bank. This is the bank's way of stating that they cannot verify your details for some reason. If you are not at risk of a USA Form 500 don't bother with the PSPO. There's always a very good reason why a bank is not verifying your details.For more check Theedgesearch.Com
Unfortunately the PSPO is a very small problem compared to the many problems in the US Bank system. The banking industry is a big industry and the US Bank is just one of many. The banking industry is full of scams and this is certainly no different than any other industry. This is not the fault of US Bank and while they may have to suspend the bank account of some customers who have received large amounts of money, the financial service industry is much better than it was ten years ago.
One of the other problems of the banking industry is that there are a lot of collection agencies who go around collecting from non-payers and these collection agencies are not able to provide a large enough income to cover the interest due. That's right interest. The smaller the debts the smaller the interest rate.
The real problem is that when a US Bank customer attempts to sell their house or car that the bank is unable to contact the debt collector. There are many reasons for this but we will come back to this later. The collection agency goes into action and asks for a large sum of money and the only way they can get that large sum of money is to sue the person for thousands of dollars.
If this happens the company forecloses on the house or car. This also happens if the person is awarded a judgment for nonpayment. It's a terrible situation, but it happens all the time.
So what can you do to prevent this from happening to you? Well, first off there is a simple solution and it involves the banks taking small monthly payments. For example you could pay the fees to stop them buying the money back using the pay pal service.
But we cannot help with the smaller problems at US Bank because all this really means is that you are able to continue to use your card. It's very difficult to get away from credit card debt when you need the money and also very difficult to find someone willing to lend you money.
Hopefully in time the problems at US Bank will get sorted out. but until then make sure you keep paying your bills and save any money you can.
