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10-31-2011, 12:26 PM #1Registered User
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Big banks back off of charging debit card fees
Look like the banks are reconsidering their fees charged to customers for using debit cards. or are they just making them not so visible
Banks Back Off Unpopular Debit Card Fees | Moneyland | TIME.com"Everyday as your walking down the street, everybody that you met has an original point of view" -Arthur PBS
Imagine - Wife of 18 years to Hubby
Mom to Buddy (son 15) and Little Miss ( daughter 11)
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10-31-2011, 12:29 PM #2Registered User
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Doesn't matter what they call the fee, they will always charge fees. Cash is the way to go.
LDR
, 2 DD (one left the nest, one rarely home) More pets than money. More love than sense.
"If you can't see the light at the end of the tunnel, march down there and light it yourself."
Full-time job
Car loan and personal loan
Challenges for 2012:
2012 Grocery Budget Reduction Challenge- $100 a month. (down from $150) Hm, might be too low.
Electric Usage Challenge (doing well, under $70 most months)
Yah, I suck at this money stuff, I know. That's why I'm here.
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11-01-2011, 11:54 AM #3Registered User
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I just saw this today on WSJ.
It's great to see that all our bellyaching and the costumer's mass exodus actually made a difference.~Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.~
~The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.~
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11-01-2011, 11:56 AM #4Registered User
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I saw the same article and a couple others as well, and have to agree the mass exodus was making a difference.
Originally Posted by Nishu
*Angel*
Dave R. Plan
Step one - Done
Step two-Done
Step three-Done
Step four-Done
Step five- Working on
Step six- almost done
Living debt free except the mortgage and working on that !!!
Be content with what you have;
Rejoice in the way things are,
When you realise there is nothing lacking,
the whole world belongs to you.
-Lao Tzu
Have Courage
“Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires…courage.” Ralph Waldo Emerson
"I've learned that you shouldn't go through life with a catcher's mitt on both hands; you need to be able to throw some things back..." Maya Angelou
"Choose a job you love and you will never work a day in your life." (Confucius 551-478 BC)
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11-01-2011, 12:08 PM #5Registered User
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Here is one that shows that that customer's were influencning the movement:
Bank of America nixes $5 debit card fee - Yahoo! Finance
EW YORK (AP) -- Bank of America is nixing its plans to charge a $5 debit card fee.
The news comes after other major banks, including Chase and Wells Fargo, said last week that they were canceling tests of similar fees.
Bank of America had said last week that it would stand by its decision to roll out the $5 monthly fee starting next year.
The about-face by the banking industry comes amid growing public anger over higher fees. A movement to get customers to switch to credit unions and community banks had marked this Saturday as "Bank Transfer Day."*Angel*
Dave R. Plan
Step one - Done
Step two-Done
Step three-Done
Step four-Done
Step five- Working on
Step six- almost done
Living debt free except the mortgage and working on that !!!
Be content with what you have;
Rejoice in the way things are,
When you realise there is nothing lacking,
the whole world belongs to you.
-Lao Tzu
Have Courage
“Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires…courage.” Ralph Waldo Emerson
"I've learned that you shouldn't go through life with a catcher's mitt on both hands; you need to be able to throw some things back..." Maya Angelou
"Choose a job you love and you will never work a day in your life." (Confucius 551-478 BC)
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11-01-2011, 06:03 PM #6Registered User
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Saw the article and knew it would show up on FV.
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11-01-2011, 06:12 PM #7Registered User
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Heard a caller on Clark Howard's show say that if they started charging him to use his ATM card, he'd just go back to writing checks, which cost THEM more money to process. I thought that was pretty smart of him.
My little community bank (actually, we use two in town) never even suggested to levy a fee for ATM cards, and, in fact, were reveling in all the new customers they acquired through the announcement by the big banks to do so.Totally debt free since January 2011.
Fully funded Emergency Fund complete December 12, 2011! Yeah!
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11-01-2011, 06:46 PM #8Registered User
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I just ordered new checks today. I intend to use them and cash from here on out. I like the bank and the credit union I use, but by using cash and checks I can keep visa and MasterCard from getting their cut.
~Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.~
~The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.~
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11-01-2011, 06:59 PM #9Registered User
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Just goes to show how we use our dollars does matter. Now people need to start buying made in the U.S.A. products over imports to drive home the point that manufacturing needs to come back full force to our shores. Clearly that can't be done for everything but there's far more made in the U.S.A. then people realize.
~~~
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"Whoever said you can't buy happiness forgot about little puppies." -- Gene Hill
"A woman's heart should be so hidden in God that a man has to seek Him just to find her."
— Maya Angelou
"God has the right, and does not require my permission, to rearrange my life to achieve His purposes."– Anonymous
Live in harmony with each other. Don't be too proud to enjoy the company of ordinary people. And don't think you know it all!
~ Romans 12:16, NLT
The art of being wise is knowing what to overlook.
William James
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11-02-2011, 05:16 AM #10Master Dollar Stretcher
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The 99% has spoken!!!
I was personally THRILLED to see BofA have to back off of its pompous "We deserve to make a profit" speech that they made publicly last week to "justify" their fee increase! I am going to try to not even use my debit card the rest of the year, so that I know I am not putting even one more extra penny into the banks' coffers!DH aka Mad Hen
(http://mad-hen-creations.blogspot.com/)
June no-spend: 0/15 
June wasted money: $0 
June grocery: $0/400
2012 LAPAW: 8.8/20 
2012 Get-Thee-To-The-Gym Challenge: 7/52
: 1136/66,795 
Run/walk challenge: 91/520 miles
Total debt (with mortgage, HELOC, and 1 cc): Jan 2012: $285,105 (Jan 2011: $292,750) 
(2911 days until retirement)
Live as if you were to die tomorrow. Learn as if you were to live forever. Mahatma Gandhi
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11-02-2011, 10:52 AM #11Registered User
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I've to say I'm totally on board with that MadHen. The pompous speech has certainly gotten way under my skin as of late and I don't plan on giving anyone of them a dime if I can help it. It's now the principle of the thing with me now.
Watched one interview where a big bank big wig was actually calling someone a monkey. I've said it before that I'm not a violent person by nature, but I think if I were the fellow being called a monkey by that pompous jacka$$ I'd have dropped him. One hard wrap to the jaw. Apparently I'm not a pacifist. LOL
*snort* Let that light shine~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"Whoever said you can't buy happiness forgot about little puppies." -- Gene Hill
"A woman's heart should be so hidden in God that a man has to seek Him just to find her."
— Maya Angelou
"God has the right, and does not require my permission, to rearrange my life to achieve His purposes."– Anonymous
Live in harmony with each other. Don't be too proud to enjoy the company of ordinary people. And don't think you know it all!
~ Romans 12:16, NLT
The art of being wise is knowing what to overlook.
William James
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11-02-2011, 12:55 PM #12Registered User
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I smell a challenge thread!! Originally Posted by madhen
The 99% has spoken!!!
I was personally THRILLED to see BofA have to back off of its pompous "We deserve to make a profit" speech that they made publicly last week to "justify" their fee increase! I am going to try to not even use my debit card the rest of the year, so that I know I am not putting even one more extra penny into the banks' coffers!~Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.~
~The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.~
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11-02-2011, 01:24 PM #13Master Dollar Stretcher
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If you start it, Nishu, they will come...
DH aka Mad Hen
(http://mad-hen-creations.blogspot.com/)
June no-spend: 0/15 June wasted money: $0 June grocery: $0/400
2012 LAPAW: 8.8/20 2012 Get-Thee-To-The-Gym Challenge: 7/52
: 1136/66,795 Run/walk challenge: 91/520 miles
Total debt (with mortgage, HELOC, and 1 cc): Jan 2012: $285,105 (Jan 2011: $292,750) (2911 days until retirement)
Live as if you were to die tomorrow. Learn as if you were to live forever. Mahatma Gandhi
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