banks charging $5/month fee for using debit

[cheguevara]

:pctoss :pctoss :pctoss :pctoss :pctoss

http://finance.yahoo.com/news/Bank-of-America-to-charge-5-apf-1381425092.html?x=0&sec=topStories&pos=1&asset=&ccode=

anyone know what banks don't plan to do this? I will switch to those

motherfuckers!!!!

[vy65]

lol poor people

[Dex]

Smaller banks will probably hold off on these types of fees as long as possible to entice people to leaving the larger banks. But with the new regulations being put in place, this is probably going to become more the norm than the exception.

I plan to pull all my money out, find a credit union, and say :flipoff BoA.

And this is part of the reason people are storming Wall Street and other places.

[Chachachango]

Tan locos. Is USAA a good bank?

[hater]

I plan to pull all my money out, find a credit union, and say :flipoff BoA.


damn right. I am not giving them $5/month of my money.

Suntrust is another one. Fuck them too.

[4>0rings]

Just went through this is BofA, fuck them. Switched to SSFCU, free everything.

[DMX7]

Tan locos. Is USAA a good bank?

Good for savings, not really for checking.

[MannyIsGod]

Wow I would switch banks immediately if mine did this. That is complete bullshit.

[Vici]

:pctoss :pctoss :pctoss :pctoss :pctoss

http://finance.yahoo.com/news/Bank-of-America-to-charge-5-apf-1381425092.html?x=0&sec=topStories&pos=1&asset=&ccode=

anyone know what banks don't plan to do this? I will switch to those

motherfuckers!!!!

They're called credit unions. For the life of me I don't know why anyone would use a bank. It's like they are either indifferent or too lazy to care about their finances.

[Bartleby]

That sucks, but debit cards are bad news anyway. They don't give you rewards when you use them, and because they're connected to your bank account you can get royally screwed if somebody steals your card (or just your number).

[MannyIsGod]

That sucks, but debit cards are bad news anyway. They don't give you rewards when you use them, and because they're connected to your bank account you can get royally screwed if somebody steals your card (or just your number).


I get rewards with my debit card. I also am sure that you're not liable with most banks (don't want to say for certainty all).

I do get much better rewards with a CC though, so I buy everything with that and then just pay it at the end of the month so I get what you're saying.

[Bartleby]

I get rewards with my debit card. I also am sure that you're not liable with most banks (don't want to say for certainty all).


As long as you can make it clear that the charges aren't yours, you can usually get the money back from the bank, but if the charges knock your account into the negative and you get hit with a bunch of bad check fees from the people you're writing checks to, the bank isn't going to reimburse you for that.

Besides, it's a total PITA when a debit card is compromised. You have to file a police report and jump through all sorts of hoops. With credit card companies you just call them and that's pretty much it.

[hater]

but it's a pain to have to pay CC every month in full IMO to avoid APRs. using debit is a lot more convenient.

[DMX7]

but it's a pain to have to pay CC every month in full IMO to avoid APRs. using debit is a lot more convenient.

What do you mean pay "in full"? That's what you're doing when you use a debit card.

[hater]

yup but no need to log in and review/make the payment every end of the month.

[Leetonidas]

Credit unions ftw

[pawe]

Can you maintain an account with bofa even if you decide to cancel your debit card with them?

[Spurminator]

I have so many autopay bills tied to my BoA account I'll probably just suck it up and stay. Sucks though.

[Stringer_Bell]

Can you maintain an account with bofa even if you decide to cancel your debit card with them?

I had a credit and student debit account with them back in the day. I cancelled the debit account, but kept the credit card. So yes, it's possible to maintain an account after cancelling debit.

[ElNono]

I cut ties with BofA a long time ago. They're out to screw you over. Just find a better bank/credit union. There's plenty out there.

[Spurminator]

On the other hand, the Louis CK part of me can't help but think, "Your bank collects and stores all of your money for you, allows you to access and transfer your money online, and automatically pays your bills every month. So is it really that outrageous to pay $5 a month to use a little plastic card to pay for everything and never have to carry cash and change around with you?"

[Bender]

banks = for profit, credit unions = non-profit. do the math.

[PM5K]

All this over five bucks?

[FuzzyLumpkins]

lol poor people

lol middle class people that think they have a stake in the upper tier.

[ChuckD]

Anyone still banking with one of the "Big Box" banks deserves exactly what they get.
Get out now. It won't get better, it'll only get worse.

[Dex]

All this over five bucks?

Five bucks A MONTH. :frying:

Yeah, it's really not that much. But if there are places that do charge it, and places that don't....why would anyone want to stick with a place that does?

They're already pinching off a fee just to have a savings account, now they want to pinch off a fee to use my checking account. I understand banks gotta get theirs somehow, but feels dirty to have to pay to access my own damn money.

An alternative would just be to use cash for everything....but that's a giant pain anytime you need to make a major purchase, or every time bill day rolls around. And good luck cashing a check without a bank, unless you feel like going to a money box and letting them take their 1%.

[pawe]

Anyone still banking with one of the "Big Box" banks deserves exactly what they get.
Get out now. It won't get better, it'll only get worse.

I cant, I'd lose my credit history. This sucks!

[MannyIsGod]

On the other hand, the Louis CK part of me can't help but think, "Your bank collects and stores all of your money for you, allows you to access and transfer your money online, and automatically pays your bills every month. So is it really that outrageous to pay $5 a month to use a little plastic card to pay for everything and never have to carry cash and change around with you?"

Because they already charge the merchants each and everytime you use it? They make money from you using it! Its fucking asinine for them to charge you to use it.

Not to mention they make money from just HAVING your money.

This is the equivilant of a place charging you to REFER some one to them.

[MannyIsGod]

All this over five bucks?

If you don't miss 5 bucks that much then you can send me a check for 5 bucks each month. Thanks!

Or maybe just one check for 60 annually.

[Das Texan]

yup but no need to log in and review/make the payment every end of the month.

what a lazy son of a bitch :lol

[Das Texan]

I cant, I'd lose my credit history. This sucks!

what?


how does transferring your money from one bank to another do anything with your credit history?

I dont even think checking accounts show up on it....

[vy65]

lol middle class people that think they have a stake in the upper tier.

lol 5 dollars
lol poverty

[vy65]

Here's an idea: use your debit card to withdraw cash from an atm - pay for shit with cash or a credit card - and not pay the kings ransom of $5/month.

[hater]

All this over five bucks?

5 bucks a month. $60/year. $600 over a 10 year period. $1800 over a 25 year period.

that's free money you are giving the banks. why do it?

[CheapBastard]

5 bucks a month. $60/year. $600 over a 10 year period. $1800 over a 25 year period.

that's free money you are giving the banks. why do it?

:tu That is 5 .99 cent two-piece specials at popeye's every month or $5 in gas.

[pawe]

what?


how does transferring your money from one bank to another do anything with your credit history?

I dont even think checking accounts show up on it....

Oh good. I'll be able transfer my money to a credit union w/o any problems.
I wish more people will close their bofa accounts so other banks will think twice about fucking people over because of their greed.

[JoeChalupa]

We got letters from IBC bank stating that the new regulations are forcing them to shut down most if not all of their HEB branches and that regulations aimed at helping the consumer actually hurt them. So their "freebees" may go away.

[hater]

:tu That is 5 .99 cent two-piece specials at popeye's every month or $5 in gas.

I don't eat at Popeyes more than 1nce a year.

and still you are getting some good chicken in exchange for your money.

[hater]

:lol the banks that caused the 2nd great depression crying about new regulations

[Kori Ellis]

Bank of America is slimy. They say they are losing $2 billion a year by the new regulations, yet they are going to charge $60 a year per customer, which will net them $3 billion a year. :rolleyes

[Mel_13]

:pctoss :pctoss :pctoss :pctoss :pctoss

http://finance.yahoo.com/news/Bank-of-America-to-charge-5-apf-1381425092.html?x=0&sec=topStories&pos=1&asset=&ccode=

anyone know what banks don't plan to do this? I will switch to those

motherfuckers!!!!

As others have said, USAA or a credit union.


Good for savings, not really for checking.

Details please. I've had USAA for many years. Never paid a dime in fees and no complaints about the service.

[Bender]

5 bucks a month. $60/year. $600 over a 10 year period. $1800 over a 25 year period.
you were doing good... until the 25 yr period

[Mel_13]

you were doing good... until the 25 yr period

He moved it to an interest-bearing checking account after 10 years.

[Drachen]

How many times does this thread have to be made before people leave their banks and start using credit unions. Shoot, someone was complaining about IBC leaving HEB. The new HEB at huebner and babcock has . . . . . . a credit union in it.

[JoeChalupa]

How many times does this thread have to be made before people leave their banks and start using credit unions. Shoot, someone was complaining about IBC leaving HEB. The new HEB at huebner and babcock has . . . . . . a credit union in it.

We also belong to a credit union but the wife was working at IBC for awhile and we got free checking, etc. I've always belonged to a FCU.

[JoeChalupa]

HEB FCU started charging monthly fees quite awhile ago though.

[ashbeeigh]

I just signed up for SSFCU. The charges that Chase has are outrageous. The free part was why I stayed with them after that bought WaMu.

[CubanMustGo]

Randolph Brooks FCU is not only still offers free interest paying checking (with free checks on those rare occasions when you need to write one, and free bill pay), but their debit card pays you a dime each time you use it. Over $100 on the year so far.

The 3.05% fixed APR on our mortgage through them totally kicks any big bank's ass, too. The amount of money we save on the mortgage makes the VERY occasional ATM fee (they have a national free ATM network, but sometimes you can't find one) pretty irrelevant, but since people like to carp about "but BigBankCo gives us free ATM use nationwide", I thought I'd mention it. They have online deposit via phone or scanner which saves gobs of time and gas.

It's hard to understand why anyone deals with banks in this day and age. Comfort or habit, I guess.

[boutons_deux]

"It's hard to understand why anyone deals with banks in this day and age"

From what I read, it seems that a lot of people think changing banks is a pain in the ass, and there are a lot of stupid, uninformed people.

[Vendetta]

https://www.commondreams.org/sites/commondreams.org/files/imagecache/headline_image/article_images/btd_full-flyer.gif

[Drachen]

HEB FCU started charging monthly fees quite awhile ago though.

It's not HEB FCU in HEB... It's some other one

[WARRIORNATION]

change banks, problem solved.