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Old 10-01-2011, 08:55 PM  
mohel
 
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Keizer, OR
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Would you pay a monthly fee to use a debit card?

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WSJ: Would you pay a monthly fee to use a debit card?

Bank of America Corp. is laying plans to charge millions of customers a $5 monthly fee to use their debit cards, and other big banks are expected to follow suit. The industry says it needs the fees to recoup revenue it will lose because of new government regulations taking effect that cap what they can charge merchants for debit-card transactions. Bank of America intends to begin collecting the fees nationwide early next year. Several other large banks, including J.P. Morgan Chase & Co. and Wells Fargo & Co., are testing or plan to test similar fees in some states. What do you think? Will you switch to cash or join a credit union? Or are you willing to pay for the convenience of a debit card?
Would you pay a monthly fee to use a debit card?-debit-card.jpg 

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Old 10-01-2011, 09:20 PM  
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My primary bank right now is Chase. The minute they charge for debit card usage, I will go elsewhere. Unfortunately, before too long, I can assure you they will all start charging a fee for something or another.
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Old 10-02-2011, 09:59 AM  
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I hate BoA with a purple passion. Have not dealt with them since the 1970's. My bro and I lived on the same street, same town, same bank. He had about 2500 in his account, me the usual 300 cause it was payday. Bro wrote a check for 1500, they bounced it off MY account and charged us BOTH overdraw fees and wouldn't give it back, the rotten thieven SOB's. Never been so PO'd in my life.
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Old 10-02-2011, 10:07 AM  
mohel
 
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Keizer, OR
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Quote:
Originally Posted by havasu View Post
My primary bank right now is Chase. The minute they charge for debit card usage, I will go elsewhere. Unfortunately, before too long, I can assure you they will all start charging a fee for something or another.
Mine as well and I hate them but their convenience keeps me with them for now.

Chase is considering new charges and is testing it in some markets. CITI is the only one that has said it won't add charges. There is a CITI ATM in a 7Eleven 3 blocks from me but it's in the front window. Too much meth to do bank withdrawals so publicly.

Credit Unions?
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Old 10-02-2011, 10:12 AM  
mohel
 
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Quote:
Originally Posted by HiHood View Post
they bounced it off MY account and charged us BOTH overdraw fees and wouldn't give it back, the rotten thieven SOB's. Never been so PO'd in my life.
Horrible but also a not uncommon story from more than just BOA. I have a BOA CC with a $500 limit I like to use foe web purchases. One day BOA phoned me asking if I was buying phone bank equipment in CA. I was not and BOA busted someone using my info. I was impressed but I don't want BOA or Chase.
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Old 10-02-2011, 10:22 AM  
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[Not to divert the thread, but I used American Express for on line purchases, and when I buy my electronics. They will double the product warranty at no cost, and when there is any variation of products purchased, they will call me on my cell phone to verify this purchase was my own doing. Can't say enough good stuff about this company.]
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Old 10-22-2011, 11:33 PM  
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would not pay for debit
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Old 10-23-2011, 04:48 PM  
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I pay a minimal sum for the convenience.
But I still consider it getting jacked by a bunch of bean counters.
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Old 10-24-2011, 11:10 AM  
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I don't pay to do anything with my money.

You know what's convenient? Cash. Carrying a card, keeping a balance, it's only benefiting the banks and I'm not going to be tricked into thinking anything else.

I sat down and did the math and closed my checking account. My bank wanted to charge me a service fee for some stupid reason (all the while claiming it was free as I paid nothing for the account, only the service to the account, semantics, does anyone actually fall for that) and it was cheaper for me to withdraw the amount and get money orders.
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Old 10-24-2011, 09:27 PM  
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Missouri
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There is a survey done every year to see which bank has the worst customer service. BOA wins every year. I use a small local bank. No monthly fee, free checks, no charge for debit card use.
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