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Fee for using debit card

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Fee for using debit card

Old 09-30-11, 05:30 PM
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Re: Fee for using debit card

I'm with a teacher's credit union (thanks, Mom!) and they fucking rule. Every time I read about how much banks suck, it reminds me again how awesome my bank is.
Old 09-30-11, 06:13 PM
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Re: Fee for using debit card

Originally Posted by al_bundy View Post
how do you not get a mortgage in this day and age?

as for not giving a shit, they have profitability software. if you're not a profitable customer they don't care if you leave
You answered your own question. Banks aren't making much of a profit on mortgages so they would rather NOT lend money for mortgages. They'd rather put it elsewhere. But they would love to approve you for a credit card with a higher APR.
Old 09-30-11, 08:58 PM
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Re: Fee for using debit card

Originally Posted by KillerCannibal View Post
I'm with a teacher's credit union (thanks, Mom!) and they fucking rule. Every time I read about how much banks suck, it reminds me again how awesome my bank is.
What are the differences?
Old 09-30-11, 09:04 PM
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Re: Fee for using debit card

Well, apparently, your mother.
Old 09-30-11, 09:04 PM
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Re: Fee for using debit card

Originally Posted by spainlinx0 View Post
I signed up for Chase after leaving Wachovia. I supposedly have free checking as long as I use direct deposit for my job's paycheck. I don't use the debit card except to take out cash from an ATM.

They now want me to pay for paper statements, and also want to pay for online access? Should that go through, I will be switching banks once again. I miss the days when banks seemed to actually want your money there.
What kind of account do you have? Because I have accounts at Chase and DO NOT pay to get statements, DO NOT pay service fee as long as I have direct deposit, and have no debit card fee. And there online bill pay is free and really the best one out there compared to the other banks.
Old 09-30-11, 09:12 PM
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Re: Fee for using debit card

I keep seeing people use the word "bank" in their posts. People, go find a credit union. They PAY you to "bank" there, not the other way 'round.

I have never paid a fee for any plastic transaction - purchase or ATM - ever. EVER. I get interest on savings and checking, and I don't even have to keep a balance in checking because my CU will automatically transfer money there from savings, for free, AFTER I've written a check. I do nearly everything online through my CU. When they can transfer the money to a creditor electronically, it's free. When they can't and they have to physically mail them a check, it's still free.

I pay NOTHING. And I make money on everything not currently being used. And I get cash back on my credit card. I have no idea why anybody uses a debit card, or pays to bank. Y'all must be lazy, stupid, or so rich that you don't give a shit that you're being fleeced.
Old 09-30-11, 09:30 PM
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Re: Fee for using debit card

Originally Posted by tbone View Post
What kind of account do you have? Because I have accounts at Chase and DO NOT pay to get statements, DO NOT pay service fee as long as I have direct deposit, and have no debit card fee. And there online bill pay is free and really the best one out there compared to the other banks.
It's free now. They are one of the companies that are floating the idea of having fees now, per the original article. I was saying that if that day comes, I'm out.
Old 09-30-11, 09:47 PM
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Re: Fee for using debit card

Can't wait until Credit Unions start charging.
Old 09-30-11, 10:11 PM
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Re: Fee for using debit card

Meanwhile, my bank, Huntington, just sent me a letter telling me that my Visa Check Card will be replaced with a Platinum Debit MasterCard. With the switch, I get Zero Liability, Price Protection and my favorite, no fees on debit purchases. Before, I had to pay 25 cents for debit purchases, which only happened when I went to Costco or Sam's Club.
Old 09-30-11, 10:31 PM
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Re: Fee for using debit card

Originally Posted by DVD Polizei View Post
Durbin is a corporate money-grubbin' asshole. He knew damn well banks would just start charging the consumer.
So you dont think the retailers were passing those fees along to you?
Old 09-30-11, 11:01 PM
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Re: Fee for using debit card

Originally Posted by DVD Polizei View Post
Can't wait until Credit Unions start charging.
They've been around for decades and they haven't started yet. And as they're member-owned instead of having an obligation to turn a profit for their shareholders, I doubt they ever will.

But even if I'm wrong and they DO start charging - I've been using them continuously for more than 25 years for free while (presumably) folks like you have been pouring good money down the drain at the banks. It'll be a damn long time - if ever - before y'all even come close to breaking even. And every month that goes by widens the gap even more.

It's ridiculously easy to find a CU that you qualify to join, all you really have to do is a little homework. I'm in a podunk jerkwater town in Indiana and I've got at least three that I can join. I am a member of two of them, an ex-member of the third, I used to be a member of a CU in Southern Maryland before I moved here, and I'm still a member of the one I joined back in Dayton in the 80's that I do the majority of my banking at to this day. And if there aren't any viable CU options, there are scads of online banks (ING, Emigrant, Ally, etc) that are functionally equivalent.
Old 09-30-11, 11:45 PM
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Re: Fee for using debit card

Originally Posted by kenbuzz View Post
They've been around for decades and they haven't started yet. And as they're member-owned instead of having an obligation to turn a profit for their shareholders, I doubt they ever will.

But even if I'm wrong and they DO start charging - I've been using them continuously for more than 25 years for free while (presumably) folks like you have been pouring good money down the drain at the banks. It'll be a damn long time - if ever - before y'all even come close to breaking even. And every month that goes by widens the gap even more.

It's ridiculously easy to find a CU that you qualify to join, all you really have to do is a little homework. I'm in a podunk jerkwater town in Indiana and I've got at least three that I can join. I am a member of two of them, an ex-member of the third, I used to be a member of a CU in Southern Maryland before I moved here, and I'm still a member of the one I joined back in Dayton in the 80's that I do the majority of my banking at to this day. And if there aren't any viable CU options, there are scads of online banks (ING, Emigrant, Ally, etc) that are functionally equivalent.
Holy Cow I agree with Kenbuzz!
Old 10-01-11, 12:43 AM
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Re: Fee for using debit card

Originally Posted by kenbuzz View Post
I keep seeing people use the word "bank" in their posts. People, go find a credit union. They PAY you to "bank" there, not the other way 'round.

I have never paid a fee for any plastic transaction - purchase or ATM - ever. EVER. I get interest on savings and checking, and I don't even have to keep a balance in checking because my CU will automatically transfer money there from savings, for free, AFTER I've written a check. I do nearly everything online through my CU. When they can transfer the money to a creditor electronically, it's free. When they can't and they have to physically mail them a check, it's still free.

I pay NOTHING. And I make money on everything not currently being used. And I get cash back on my credit card. I have no idea why anybody uses a debit card, or pays to bank. Y'all must be lazy, stupid, or so rich that you don't give a shit that you're being fleeced.
I have and account at a credit union and must say that they were great for CD rates back in the day, but nowadays don't stand that much apart from my big bank Chase. Credit union is not open as late. Their rates are pathetic now because of economy. Credit union has increased certain fees over the past 3-4 years and they have been charging if you use your debit card as a debit. ATM access pathetic compared to Chase. And my credit union's online access and bill pay comes no where near Chase's online features. Still keep the account just in case, but primary account with Chase.

Big banks aren't bad if you keep track of your accounts. It's the habitual overdrafters that suffer and they deserve to subsidize my free accounts.
Old 10-01-11, 06:32 AM
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Re: Fee for using debit card

I have a small-balance checking account with BoA, and I'm pissed about this fee for accessing MY money while they earn interest with it all the rest of the time.

My thoughts are - since my PayPal account is linked to my BoA checking - that I would use my PayPal debit card for purchases that would simply roll the charge into my BoA account like a regular direct ACH charge - no card purchase on the BoA side. Plus the PayPal purchases result in a month-end cash back bonus. Any thoughts?
Old 10-01-11, 09:42 PM
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Re: Fee for using debit card

Originally Posted by kenbuzz View Post
I keep seeing people use the word "bank" in their posts. People, go find a credit union. They PAY you to "bank" there, not the other way 'round.

I have never paid a fee for any plastic transaction - purchase or ATM - ever. EVER.
I wanted to move my main banking to my CU which I presently just use for car loans but their website says they charge $1 for pin debit transactions. Why in the world would I want to do that? Maybe I need to call for confirmation but I prefer to use pin when possible just to avoid having to take out my ID.
Old 10-01-11, 10:27 PM
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Re: Fee for using debit card

I keep all my money under my mattress.
Old 10-01-11, 10:28 PM
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Re: Fee for using debit card

I've been meaning to move to a credit union for a while. My last gig was direct depositing for me so I let it slide for a while, but now I'm working on a new show that doesn't, so I'll start incurring the bullshit $10/month for my checking account. Anyone have suggestions for a good credit union in the Los Angeles area, particularly the Silverlake/Glendale/Burbank area?
Old 10-02-11, 01:28 AM
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Re: Fee for using debit card

Originally Posted by achau9598 View Post
I have a small-balance checking account with BoA, and I'm pissed about this fee for accessing MY money while they earn interest with it all the rest of the time.

My thoughts are - since my PayPal account is linked to my BoA checking - that I would use my PayPal debit card for purchases that would simply roll the charge into my BoA account like a regular direct ACH charge - no card purchase on the BoA side. Plus the PayPal purchases result in a month-end cash back bonus. Any thoughts?
That's exactly what I was thinking. Honestly I don't even use my bank debit card anymore, I just use my paypal debit card. The description on my statemnt though is Preauthorized Debit with the memo Paypal Instant Transfer

Not sure if they will try to do this as a debit since it is listed as a debit when it goes through.
Old 10-02-11, 09:28 AM
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Re: Fee for using debit card

A preauth debit is simply a direct charge to your account. Since the PayPal card isn't tied to the BoA card number - and instead links directly to the BoA checking account - it should allow purchases with a card without BoA getting the monthly fee.
Old 10-02-11, 10:09 AM
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Re: Fee for using debit card

"Credit union" are not magic words. I have banked at two in my life and was unhappy with both of them. Even the convenience of having one of them in the lobby of the building I worked in did not overcome the negatives. There are undoubtedly great ones, but many of them aren't that hot.

Plus, if you use ATMs alot and your CU doesn't refund ATM fees, well, add up all those fees.

I bank at USAA now so I am not going anywhere. I was terrified to cut the cord with banks with local branches but haven't regretted it at all in the several years since I have done it.
Old 10-02-11, 10:17 AM
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Re: Fee for using debit card

I don't get it, 10 years or so there were no debit cards, people used cash or credit. Turn in your debit card get a ATM card and use cash or get a CC card if you can. Whats the big deal.
Old 10-02-11, 10:46 AM
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Re: Fee for using debit card

Originally Posted by kenbuzz View Post
and I'm still a member of the one I joined back in Dayton in the 80's that I do the majority of my banking at to this day.
WPCU? I've been with them for about 10 years now & really like them.

As a kid, I had an account with the credit union at my Dad's work. Once I got to college, I joined a local credit union & have been with them since. I don't see myself ever going to a bank.

What's the appeal of a bank over a credit union?
Old 10-02-11, 11:24 AM
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Re: Fee for using debit card

Originally Posted by achau9598 View Post
A preauth debit is simply a direct charge to your account. Since the PayPal card isn't tied to the BoA card number - and instead links directly to the BoA checking account - it should allow purchases with a card without BoA getting the monthly fee.
They made me tie a card to my account in addition to my checking number. They turned off my paypal card one time because the debit card on my account was no longer valid. So while you are probably right about how it goes through, they CAN do it through the debit card also
Old 10-02-11, 11:33 AM
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Re: Fee for using debit card

Unless they have a "flipping them the bird while closing the account" fee, I think I have a plan ready if they introduce this at my bank.
Old 10-02-11, 12:45 PM
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Re: Fee for using debit card

Originally Posted by OldDude View Post
Unless they have a "flipping them the bird while closing the account" fee, I think I have a plan ready if they introduce this at my bank.
I was thinking that - when I do close my BoA account - I'll use my shredder on the card and go out like Rip Taylor.

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