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Banks to add fees to debit card purchases @ POS. (Updated: Some banks reconsider!)

Discussion in 'The OT' started by cj9788, Sep 30, 2011.

  1. RasputinAXP

    RasputinAXP Kwisatz Haderach of Cordcuttery

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    And on the tollways once a week. Usually Fridays after rush hour.
     
  2. Rich

    Rich DBSTalk Club DBSTalk Club

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    So, today I open up the Daily News and on the second page there's a full page add for a clothing store that's just opening up. I guess the Daily News has changed its (did you get that lack of an apostrophe, Laxguy?) policy on the second page. Must cost a fortune to put an ad on it. My apologies to BofA, if anybody cares.

    Rich
     
  3. Rich

    Rich DBSTalk Club DBSTalk Club

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    They can only do it once a week on the GSP and the Pike? I didn't know that.

    Rich
     
  4. RasputinAXP

    RasputinAXP Kwisatz Haderach of Cordcuttery

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    TPK, GSP and ACE, yeah. Same law that said "only once every 24 hours" for the regular stations included "and only once a week for the state contract guys."
     
  5. Rich

    Rich DBSTalk Club DBSTalk Club

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    Huh. Learn something new every day....:lol:

    Rich
     
  6. AntAltMike

    AntAltMike Hall Of Fame

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    I just looked at my "Wells Fargo" (Formerly First Union, uh, I mean, Wachovia) on-line statement and it included this entry:

    09/30/11 MONTHLY CHECK RETURN/IMAGE STMT FEE $2.00

    I don't think I was paying that to Wachovia. I imagine that if I tell them to stop sending it to me, I save the two bucks.

    I just made a deposit of a check at the counter window yesterday and as the clerk was processing it, it had hit me tha I hadn't endorsed it, so I pointed that out to him and he said it wasn't important, but he could stamp the back of it if I'd like.
     
  7. SayWhat?

    SayWhat? Know Nothing

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  8. wilbur_the_goose

    wilbur_the_goose Hall Of Fame

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    I'm in the middle of a switch to a local credit union. I'm thrilled so far.

    See you later, Wells Fargo!
     
  9. chevyguy559

    chevyguy559 Fresno State Bulldog!

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    Back in college, I worked for a California bank that was later bought by CitiBank.....I was a part time teller and LOVED it....great hours, met great people and I got to deal with lots of money everyday! Towards the end of my tenure with them, they started getting "sale heavy". I never reached my "sales goals" because getting the customers transactions done in an accurate yet speedy manner after they've waited 10 minutes in line was my priority. I wasn't concerned with trying to sell a Home Equity Line of Credit to the single mom that lived in an apartment and was just depositing enough in her account to cover rent :lol: After I stopped working there, I joined a credit union and will NEVER go back :)
     
  10. pfp

    pfp Whatever

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    I switched to a credit union a couple weeks ago. Went to BOFA yesterday to close my accounts there. When I got there the person in front of me was closing their accounts and while I was at the counter closing mine I could her the person waiting in line saying they are closing theirs due to the new $5 fee.
    :lol:
     
  11. Nov 1, 2011 #151 of 178
    cj9788

    cj9788 Hall Of Fame

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    NEW YORK (AP) -- Bank of America is nixing its plans to charge a $5 debit card fee.

    The bank says in a statement that the decision to scrap the plan came after listening to customer feedback in recent weeks.

    The news comes after other major banks, including Chase and Wells Fargo, said last week that they were canceling tests of similar fees.



    Read more: http://www.wsvn.com/news/articles/business/21005785990115/#ixzz1cTVvHDMf
     
  12. Nov 1, 2011 #152 of 178
    Herdfan

    Herdfan Well-Known Member

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    Don't anyone make the mistake of think that BoA or any of the other banks are plotting other ways of recouping profits lost due to regulations. The difference is that now every customer will pay for it, not just those who use debit cards.
     
  13. Nov 1, 2011 #153 of 178
    Lord Vader

    Lord Vader Supreme Member

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    This is how things should work. When Netflix mad the stupid decision to split, forming Qwikster, customers bolted and Netflix backtracked. Now customers have spoken in the Bank of America situation and BofA was forced to face the music and backtrack as well.

    In neither case did the government have to force each company to rethink its decision. The market worked.
     
  14. Nov 1, 2011 #154 of 178
    klang

    klang Hall Of Fame

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    Yep, got a letter from BofA just yesterday about the fees for an interest bearing checking account going up to $25 a month if you don't maintain minimum balances. We keep just enough parked there to avoid any fees. Everything else we have moved elsewhere.
     
  15. Nov 1, 2011 #155 of 178
    phrelin

    phrelin Hall Of Fame DBSTalk Club

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    I wonder what those poor employees who had to "listen" experienced.:eek2:
     
  16. Nov 1, 2011 #156 of 178
    cj9788

    cj9788 Hall Of Fame

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    One can only imagine.

    That is what I loved about working for the IRS taking taxpayer calls, we did not have to tolerate any BS the callers were not customers they were taxpayers. Its not like they could do it with another company. I was one of the people you got when you received a letter that you owed money, or we were not allowing a credit,exemption, and or itemized deduction. You could bitch moan and complain all you wanted but at the end of the call you had two choices, pay or appeal. The calls that were really easy because there was NOTHING I could do were the ones whose appeals were denied and the IRS response was pay or take it to tax court.
     
  17. Nov 1, 2011 #157 of 178
    SayWhat?

    SayWhat? Know Nothing

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    Send me a check for my balance.

    Transfer my balance to ....

    Send me a check for my balance.

    Transfer my balance to ....

    Send me a check for my balance.

    Transfer my balance to ....

    Send me a check for my balance.

    Transfer my balance to ....

    Send me a check for my balance.

    Transfer my balance to ....

    Send me a check for my balance.

    Transfer my balance to ....

    And so on, and so on, and so on.......
     
  18. Nov 2, 2011 #158 of 178
    wilbur_the_goose

    wilbur_the_goose Hall Of Fame

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    I'm really glad this whole thing happened.

    I realized I could fire my bank, Wells Fargo (formerly Wachovia, First Union, Core States, and Meridian). I've signed up with a credit union and my banking life is MUCH better now - amazingly lower fees, better customer service... Took a few weeks to transfer all the ACH's over, but I'm almost done.

    Best banking move I ever made.
     
  19. Nov 2, 2011 #159 of 178
    Cholly

    Cholly Old Guys Rule! DBSTalk Club

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    Fortunately, the companies responded to customers' demands. Now, if Congress would only listen to taxpayers and get productive, we'd all be better off. :sure:
     
  20. Nov 2, 2011 #160 of 178
    Lord Vader

    Lord Vader Supreme Member

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    Gee, you're not asking for much, are you? :p
     

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