More 'fun with banks'

[melchar]

So Bank of Atrocity* will start charging debit card holders $5 a month to use their cards 'only for non-ATM transactions'. The report says other banks are prepared to do the same. Yup. My cynical side has been expecting this ... since debit cards were introduced. I was guessing it would take about 15 years to institute - and it's been juuuust about that long [closer to 20 years]. Give folks a 'generation' of use, then start charging.

I wonder how many sheeple will stop using debit cards & remember that checking accounts still exist/only use the ATMs/or actually just walk in to do inside-the-bank transactions. Cynicism opines 'very few' will so do.


[* BoA has directly messed up bank balances for/charged wrongly/arranged erroneous overdrafts on/mistakenly foreclosed upon/ignored their own rules for lending - on more of my friends and family than any other bank or banks put together, so I am rather put out with them.]

Comments

[howeird]

Checks? You mean those things which are so easy to copy and forge? All I need is your deposit slip to steal your bank account. Your bank card does me no good - it will be shut off $50 after you report it stolen, and it has no information I can read other than your name.

Isn't it amusing that Wells Fargo and about six other banks have been charging that fee, but until BofA announced they are thinking about doing it, all the press gets up in arms? Yes, they have done Evil Things in the bad loan business, but so have all the other banks. I would bet real cash pennies that the reason more of your friends have been wrongly foreclosed on by them is simply because more of your friends had loans with them.

I've been with B of A for about 8 years and have never had a bogus transaction with them. I left Wells Fargo when they messed up one of my accounts, and imposed an internet fee.

I don't think this has anything to do with the "generation" thing. BofA has had ATM cards since 1978. I know because my first electronics job included repairing their ATMs. And those of several other, mostly smaller, banks.

If BofA charges a fee only for purchases with the check card, I'll only use it in the ATM. If they charge a blanket fee, I will find another bank, if there is one, which does not.

[ravan.livejournal.com]

I found another bank two years ago, when they started jacking up fees left and right. I ♥ my credit union.

[howeird]

I used to love credit unions, but have had two go belly-up on me.

[melchar.livejournal.com]

I far prefer credit unions. I've had one since 1980 - and a 2nd since 1989 - and neither have done me wrong [knock wood]. They are easy to visit and deal with - and have ample ATMs.