Talk about kicking someone when they're down!

[sdrjeolsen]

Our local Denver news just had a story, amazing the fees the unemployed have to pay to access their benefits! 12.50 to write a check, that for each check! Good ol Chase.

New State Debit Cards Are Costing The Unemployed

For tens of thousands of unemployed Coloradans, the check is no longer in the mail.

The program is the "Colorado Automated Payment," or CAP Card. On May 12, the state started directly depositing unemployment benefits into accounts at Chase Bank. The only way to access the money is using a debit card.

Benefits recipients say the new program is costing them precious money.

"I believe that when we went in the first time to use it, and we went in to verify how much was in the account, they took a charge for that," said Nancy DeSimone, an unemployment benefits recipient.

Desimone has a receipt showing she was charged 50 cents just to check the balance in her unemployment account.

When you start to read the fine print on the CAP card, there are more charges:

$1.50 for using a non-Chase ATM
$5.00 for a teller transaction at a non-Chase bank
$12.50 to write a check on the account
"I don't want to see them come out making profits off of people who are unemployed," DeSimone added.

"I think I got three checks, maybe four, and then I got the information and the card in the mail and I broke down and cried when I got it," Bruck told CBS4.

She worried about how she was going to get the money from the debit card into her regular checking account at another bank.

"I can't take my debit card to my lease office to pay my rent ... and say, 'Here' ... that doesn't work," Bruck said.

She has to go to an ATM get her money out in cash and carry it to her own bank.

"I'm just not comfortable with it," Bruck said.

Lori Halpenny was also laid off this year. She's uncomfortable giving her personal information to a bank where she doesn't have an account.

"Which was frightening to me because of all the problems with identity theft," Halpenny told CBS4.

She says she not only gave her social security number and other information to Chase, but she had to agree to allow the information to be shared with "third party affiliates" as well.

"I didn't understand how the state of Colorado would basically sell us out to Chase Bank," Halpenny added.

"All the beneficiaries CBS4 talked to said they would be happy with a direct deposit system where the money goes directly into their personal bank accounts, much like the way the federal government distributed the stimulous checks.

[Nishu]

Outrageous! That's unbelievable.

[Nishu]

Outrageous! That's unbelievable.

[Frugal Nurse]

Holy Crap!!!

[baronmom]

Just another way that banks screw the people. I can't believe that they can get away with that though!

[larabelle]

That is just awful!!!!!!!!!

[CarolBee]

They count on people not reading the fine print until it's too late. That is just wrong!!!!

[FrugalWitch]

That should be illegal. Talk about adding insult to injury...sheesh!

[Nishu]

They count on people not reading the fine print until it's too late.

Would it have made a difference if these guys read the fine print? If I'm reading this correctly, it looks like they didn't have a choice in the matter... either accept the terms or do without your money.

[cissylu]

that stink`s ! and no they didn`t have a choice.geez there takeing from the unemployed.grrrr

[janelane]

Ugh, this is awful and monopolistic! Why can't they just direct deposit into existing accounts? I mean these are people filing for unemployment, they were recently employed and most likely have their own bank account already.

And even aside from limiting banking choices for those receiving unemployment, I'm sure the state is already paying Chase more than enough to handle this, why do they need to tack on all those extra fees to make even more?

Sick sick sick. So tired of companies getting in bed with the government in the name of making private money off a public programs.

[Missy]

i heard this on the radio today. it's awful.

[Nishu]

I'm going to send an email to someone. >=(

They'll probably laugh at me but I need to express my anger.

[Shoshana]

It is terrible! The hoops and red tape associated with "benefits" are excessive -- even standing in line for hours costs money. Now they're being more direct about how they charge for benefits

[TheRootedNomad]

Do they really think anyone of these people is going to bank with Chase in the future???? If they are smart they won't. What a ploy!!!!