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Thread: New banking fees: CC and Check Accounts now

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    God/dess Deogol's Avatar
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    Default New banking fees: CC and Check Accounts now

    Inactivity fees
    Paper balance reports fees
    And fees for features.

    They are also promoting debit cards which have a problem when robbed. You are robbed, not the credit card bank!

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    God/dess threlayer's Avatar
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    Default Re: New banking fees: CC and Check Accounts now

    I've had a credit union confiscate some of my account assets by use of an "inactivity" fee. This was a small savings account. I'm working with the state banking department to change that fraudulent provision.

    Now, in addition to hating banks, I also hate credit unions.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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    Banned Melonie's Avatar
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    Default Re: New banking fees: CC and Check Accounts now

    this is arguably an outgrowth of FDIC directives requiring banks to pre-pay the next 3 years worth of FDIC insurance premiums in advance to cover massive FDIC losses on failed banks ( which has essentially bankrupted the FDIC already). For many regional banks, this unexpected new 'cost of doing business' has cut deeply into their already precarious profit margin. Thus they have little choice but to find additional sources of revenue i.e. new fees.

    As to banks' promotion of debit cards, this actually accomplishes many things both good and bad ...

    - it provides non-creditworthy former credit card holders with a means of making electronic purchases

    - it prevents future bank losses as credit card holders default / file for bankruptcy

    - if shifts the risk of identity theft losses from the bank to the cardholder

    - it provides the bank with a new source of 'fee' revenue ( i.e. automatic overdraft )

    - it forces debit card account holders to 'live within their means'

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    God/dess threlayer's Avatar
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    Default Re: New banking fees: CC and Check Accounts now

    That automatic overdraft will go away this Spring if current legislation is enacted. The banks instead should offer a limited line of credit linked to checking accounts, say maybe $200 or $500 at 15%-18% interest max. That would fairly limit their exposure to risk and also eliminate the unfair overdraft fee system. Maybe you've noticed that bank fees have been gouging us for a long time (unless you like excessive bank fees as somehow reassuring that corporations will always be in charge of the populace).
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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