Bank fees....greedy punks!!

user 6507 · 10-06-2011

Well...I love using my debit card, but I guess I'll have to go back to using cash if the trend continues with these fees. Or, I'll look around for a bank that will treat me right. I also heard HSBC is discontinuing consumer accounts-that's a card I use a lot for transactions in Mexico. I think most households have several accounts and these fees will add up...

StevedeSD · 10-06-2011

My wire transfers are going from $15 to $25.

user 6507 · 10-06-2011

Quote:

Originally Posted by StevedeSD

My wire transfers are going from $15 to $25.

That sucks! I'm going internet shopping....maybe Scotia or one of the Canadian banks with US operations. There must be some other options out there. I have to start thinking beyond what just the local banks offer. They can suck it...they are getting out of control.

MikeW · 10-06-2011

Credit Union. Haven't used a bank in over 30 years.

shivors · 10-06-2011

Quote:

Originally Posted by MikeW

Credit Union. Haven't used a bank in over 30 years.

Same here. Have always thought they paid more attention to me than any bank I was a customer of.

Brent & Kim · 10-06-2011

Wonder how many customers Citibank will lose by charging $15.00 a month if you don't keep $6000.00 in your checking account. Stupid!

Rissask · 10-06-2011

I am a 'credit union' customer....but it is just another name for 'bank'....at least mine is just a bank.

We have been using almost exclusively cash for about 5 years now. I love it, it helps me stick to a budget. Every payday I pay my bills online and get my spending money for the next two weeks in cash. No user fees for using my debit card as I get a few free ones a month. When I am out of cash, I am out of money, period.

TAPPY · 10-06-2011

We pretty much do all cash now to, and pay bills online.

I work for a large financial bank and I get most of those services free anyway....but I would sure go to a credit union to if I had to pay for most of them or used them on a reg basis.

What I do think you will see is a trend - if you keep certain balances in a checking or saving, you will get most of those services for free. It is all about keeping the profitable banking relationships or customers and buidling a full relationship with them in other areas (mortgages, securitys, checking savings, cds, etc) and weeding out the bad ones.

LucyE · 10-06-2011

Will they also charge you to write checks? If not, I would rather write a check at the store than pay the fee to use the ATM card.

Rissask · 10-06-2011

Quote:

Originally Posted by LucyE

Will they also charge you to write checks? If not, I would rather write a check at the store than pay the fee to use the ATM card.

oh no....please don't be one of those people!!!

I haven't seen anyone write a check at a store for over a decade now...it's been very nice...I always used to get stuck behind some old lady taking forever to write out a check...gahhhh!

So happy those days are gone now.

Cash is king!

Sol · 10-06-2011

Bank of America plans on charging five bucks a month for debit cards. I am switching over to a credit union. Charging people so thet can withdraw their own money is ridiculous!

gingele · 10-06-2011

Quote:

Originally Posted by Sol

Bank of America plans on charging five bucks a month for debit cards. I am switching over to a credit union. Charging people so thet can withdraw their own money is ridiculous!

I think there might be other good reasons to close your BoA accounts besides that monthly fee.

minnjim · 10-06-2011

Quote:

Originally Posted by Rissask

I am a 'credit union' customer....but it is just another name for 'bank'....at least mine is just a bank.

Our office has found that in general credit unions are much more apt to be able to find a mortgage loan package for a borderline-qualified customer.
On the other hand, personally speaking, we have been dealing with the same local bank for 20 years. It's wonderful to call them up and say, hey, we just bought a car. ...put $XXXX into our checking account would you?
(latest rate on a car loan was 2.3%. I think that's good....isn't it?

)

Rissask · 10-06-2011

Quote:

Originally Posted by minnjim

Our office has found that in general credit unions are much more apt to be able to find a mortgage loan package for a borderline-qualified customer.
On the other hand, personally speaking, we have been dealing with the same local bank for 20 years. It's wonderful to call them up and say, hey, we just bought a car. ...put $XXXX into our checking account would you?
(latest rate on a car loan was 2.3%. I think that's good....isn't it?

)

I think that is a pretty good rate.

I think credit unions in Canada are different from the ones in the US, perhaps.

Mine is pretty much the same as any other bank around. Fees are a bit lower, maybe- but I still pay a flat monthly fee (not sure how much, but it's under ten bucks) that allows me 10 ATM transactions.

We really should switch to Scotiabank though....they have a lot of locations worldwide, it was even a Scotiabank ATM we used in Negril last winter.

Sue · 10-06-2011

Quote:

Originally Posted by gingele

I think there might be other good reasons to close your BoA accounts besides that monthly fee.

Please elaborate. I am just now officially a BofA member.

10-06-2011	#1 (permalink)
user 6507 banned Join Date: Mar 2004 Location: gone Posts: 10,448	Bank fees....greedy punks!! Well...I love using my debit card, but I guess I'll have to go back to using cash if the trend continues with these fees. Or, I'll look around for a bank that will treat me right. I also heard HSBC is discontinuing consumer accounts-that's a card I use a lot for transactions in Mexico. I think most households have several accounts and these fees will add up...

10-06-2011	#2 (permalink)
StevedeSD way into it Join Date: Jul 2004 Location: Xcalacoco Posts: 245	My wire transfers are going from $15 to $25.

10-06-2011	#4 (permalink)
MikeW añejo Join Date: Apr 2004 Location: Moorpark, CA Posts: 13,089	Credit Union. Haven't used a bank in over 30 years.

10-06-2011	#6 (permalink)
Brent & Kim añejo Join Date: Feb 2006 Location: Rockford, IL Posts: 10,336	Wonder how many customers Citibank will lose by charging $15.00 a month if you don't keep $6000.00 in your checking account. Stupid!

10-06-2011	#7 (permalink)
Rissask Canada Dry Join Date: Aug 2004 Location: Saskatchewan, Canada Posts: 49,565	I am a 'credit union' customer....but it is just another name for 'bank'....at least mine is just a bank. We have been using almost exclusively cash for about 5 years now. I love it, it helps me stick to a budget. Every payday I pay my bills online and get my spending money for the next two weeks in cash. No user fees for using my debit card as I get a few free ones a month. When I am out of cash, I am out of money, period.

10-06-2011	#8 (permalink)
TAPPY añejo Join Date: Jan 2004 Posts: 21,148	We pretty much do all cash now to, and pay bills online. I work for a large financial bank and I get most of those services free anyway....but I would sure go to a credit union to if I had to pay for most of them or used them on a reg basis. What I do think you will see is a trend - if you keep certain balances in a checking or saving, you will get most of those services for free. It is all about keeping the profitable banking relationships or customers and buidling a full relationship with them in other areas (mortgages, securitys, checking savings, cds, etc) and weeding out the bad ones.

10-06-2011	#9 (permalink)
LucyE añejo Join Date: Mar 2008 Location: Torrance, CA Posts: 7,242	Will they also charge you to write checks? If not, I would rather write a check at the store than pay the fee to use the ATM card.

10-06-2011	#11 (permalink)
Sol añejo Join Date: Aug 2003 Location: The Gem State Posts: 16,176	Bank of America plans on charging five bucks a month for debit cards. I am switching over to a credit union. Charging people so thet can withdraw their own money is ridiculous!

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