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Banks preparing to charge for debit card usage

Debating with the enemy


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Old 10-02-2011, 03:59 PM   #16
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Re: Banks preparing to charge for debit card usage

0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! EVERYBODY! 0 Blitz! 0 Blitz! ..............0 Blitz?
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Old 10-02-2011, 04:38 PM   #17
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Re: Banks preparing to charge for debit card usage

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0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! EVERYBODY! 0 Blitz! 0 Blitz! ..............0 Blitz?
you're constantly comic relief. :headbange
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Old 10-03-2011, 09:55 AM   #18
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Re: Banks preparing to charge for debit card usage

I often wonder how my bank even makes any money off my accounts. With one bank I have 5 checking accounts with free checks both personal and business and they don't charge me any service charges. I have only purchased business checks once last year and this time the bank paid.
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Old 10-03-2011, 10:59 AM   #19
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Re: Banks preparing to charge for debit card usage

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I often wonder how my bank even makes any money off my accounts. With one bank I have 5 checking accounts with free checks both personal and business and they don't charge me any service charges. I have only purchased business checks once last year and this time the bank paid.

You're a business man and you don't know what your money sitting on your account does for them?

Well, they could use it to make loans to people who can't afford it, they could issue credit cards to broke college students, or they could lend it to other businesses on the verge of going out of business. With the measly cost of checking and checkbook they could make prime rate return on your money or lose it all like most banks did the last few years.
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Old 10-03-2011, 11:19 AM   #20
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Re: Banks preparing to charge for debit card usage

What? Banks don't make a killing on checks and nickle & dime fees?
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Old 10-03-2011, 01:37 PM   #21
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Re: Banks preparing to charge for debit card usage

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You're a business man and you don't know what your money sitting on your account does for them?

Well, they could use it to make loans to people who can't afford it, they could issue credit cards to broke college students, or they could lend it to other businesses on the verge of going out of business. With the measly cost of checking and checkbook they could make prime rate return on your money or lose it all like most banks did the last few years.
That was poorly worded. I should have said "I'm surprised my banks don't charge me for any services. Three of those checking accounts I carry little to no money. Its more of a legal thing with some policies I write we cannot commingled the monies with other customers premiums.

Last edited by firstdown; 10-03-2011 at 05:31 PM.
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Old 10-03-2011, 05:05 PM   #22
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Re: Banks preparing to charge for debit card usage

Am I the only one that thinks this thread is about Brandon Banks whenever taking a quick glance at it?
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Old 10-03-2011, 05:12 PM   #23
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Re: Banks preparing to charge for debit card usage

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Am I the only one that thinks this thread is about Brandon Banks whenever taking a quick glance at it?

Ive been fulled at least 3 times, including most recently because of your reply!!!
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Old 10-05-2011, 05:20 PM   #24
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Re: Banks preparing to charge for debit card usage

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Ive been fulled at least 3 times, including most recently because of your reply!!!
Is that breakfest, lunch and dinner?
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Old 10-05-2011, 05:54 PM   #25
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Re: Banks preparing to charge for debit card usage

I'm about to switch to Navy Federal, I apparently spoke too soon when I said Wells Fargo hasn't charged me any dumb fees yet. They just charged me 12.50 in an "overdraft transfer fee", so apparently even if you have money in a savings account to backup your checking, they're still gonna charge you a ridiculous fee just to transfer it to your checking to cover the purchase. I only think it's ridiculous because the fee in question actually cost more than the purchase I made.

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Old 10-06-2011, 10:48 AM   #26
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Re: Banks preparing to charge for debit card usage

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Is that breakfest, lunch and dinner?
Son of a gun.....
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Old 10-06-2011, 01:10 PM   #27
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Re: Banks preparing to charge for debit card usage

This is a simple solution......

All BOA customers need to take their money elsewhere and close their accounts. Maybe if all the other Big Banks see how the general public will not tolerate this then the other banks will be scared to pull the trigger on this extra fee also.

If I'm correct it's only BOA right now so if the other see a mass exodus they will not add the fee for fear of losing customers and money.
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Old 10-06-2011, 03:01 PM   #28
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Re: Banks preparing to charge for debit card usage

I'm leaving Bank of America. My parents set me up with a savings account at Navy Federal awhile back so everything else I have with Bank of America is going to be moved there. I will also get a debit card and an ATM card that will reimburse me for not using their ATM's.
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Old 10-06-2011, 03:10 PM   #29
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Re: Banks preparing to charge for debit card usage

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This is a simple solution......

All BOA customers need to take their money elsewhere and close their accounts. Maybe if all the other Big Banks see how the general public will not tolerate this then the other banks will be scared to pull the trigger on this extra fee also.

If I'm correct it's only BOA right now so if the other see a mass exodus they will not add the fee for fear of losing customers and money.
You do realize that the fee was imposed thanks to a law passed by Congress, right?

I have a better idea. Why not make it clear to Congress that we will no longer accept short-sighted interference into the market by placing arbitrary rules that favor one side over the other, creating an outcome that will only wind up costing the consumer money?

That's what happened here: Sen. Dick Durbin adds an amendment to the treacherous Dodd-Frank bill giving the advantage to retailers in a long dispute over who bears the cost of transferring funds electronically. The result? Banks get stuck with most of the bill, so they do what businesses naturally do when they have to answer to shareholders -- pass the expense to the consumer.

So don't blame the banks, blame Congress for screwing around with the free market.
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Old 10-06-2011, 04:41 PM   #30
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Re: Banks preparing to charge for debit card usage

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You do realize that the fee was imposed thanks to a law passed by Congress, right?

I have a better idea. Why not make it clear to Congress that we will no longer accept short-sighted interference into the market by placing arbitrary rules that favor one side over the other, creating an outcome that will only wind up costing the consumer money?

That's what happened here: Sen. Dick Durbin adds an amendment to the treacherous Dodd-Frank bill giving the advantage to retailers in a long dispute over who bears the cost of transferring funds electronically. The result? Banks get stuck with most of the bill, so they do what businesses naturally do when they have to answer to shareholders -- pass the expense to the consumer.

So don't blame the banks, blame Congress for screwing around with the free market.
But but but more regulation is always better. Regulation looks out for the little guys. Us little guys couldn't possibly make it without the gov't regulating all the mean nasty businesses who wish to actually make money from us poor innocent and free-ride-deserving consumers.

Lesson of the day...gov't involvement has a tendency to screw sh*t up. For every problem it purports to fix it creates at least one other new problem. Sometimes these new problems are worse than the original problem. And the last people on Earth smart enough to figure out which "solutions" will work and which won't are...you guessed it ..politicians.
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