Problem is they aren't just swapping to an up front fleece, they will still do small print shady **** while now giving you upfront fees. In a way, this actually helps them - the more people focus and gripe on something like this, the less likely they are to notice anything else. Sleight of hand.
...one less $5 foot-long at Subway. One less meal is no biggie. After all, yatchs don't cover their own expenses.
If you're sweating an extra 60 dollars (maximum) over the course of a year you need to get a new job.. or start a "business" and write some **** off.
My response. You offered the same service for free before, so why do I have to pay for it now? So why do you need the $5.00 again?
$5.00 a month won't make or break most people, but it's a cost that shouldn't exist. How about we let all of our service providers tack an extra $5.00 a month onto our bills just for the convenience of using something that we already pay for. Bank: $5.00 Home Insurance: $5.00 Car Insurance: $5.00 Cell Phone: $5.00 Mortgage: $5.00 etc. etc. etc. The fact of the matter is, it's a stupid fee. Banks make money off of every swipe you make with your card, they make money off of your assets sitting in their bank, they make money off of every overdraft you make, they make money when a check someone YOU wrote bounces, they make money when you accept a wire transfer to your account. Banks make money a lot of different ways. There's a reason they're "hurting for money" and it has nothing to do with a lack of revenue streams. It has to do with the loans they wrote, cut off, and shipped off to each other. This is another way of passing the buck for the **** that they pulled off of themselves to someone else. At least this time the general public gets a choice. I hope they get swamped with people pulling money from their accounts....I know I would. No way in hell would I pay them a monthly fee for accessing my own money.
Carry some cash like a man and you won't even get the 5 dollar fee. Go to the ATM! I don't agree with the comparison to insurance and cell phones.. they raise their prices anyway but I don't see the uproar over their overage fees and other BS like that. This isn't even a mandatory extra 5 dollars a month on your account.. it's a convenience fee. You don't want to pay it you can switch banks, keep cash in a safe at home, or just don't charge anything as debit. Big deal.
How do credit unions work? Does anyone know a good credit union in Florida? I have no clue about this stuff, and I want to open up an account so I don't have cash everywhere around the house and possibly lose it. Any help is appreciated.
I don't know if you got it in your part of the state, but Im with SunCoast School Federal Credit Union. I have no complaints what so ever, and they really been my only banking choice. I know SunTrust is a credit union and is state wide, but I don't know much about it.
I did not know that Sun Trust was a credit union. Like I said, I have no clue about this stuff. Why is everyone saying to go a Credit Union when some of them could be charging $5 a month like Sun Trust is going to apparently?
Because it's not lol. I just checked, I though it was. Suncoast is a Credit Union. As for differences, here is a very oversimplified answer. http://www.wdfi.org/wca/consumer_cr...encesBanksCreditUnionsSavingsInstitutions.htm
Just got a mass email to all employees for SunTrust.......due to outcry, we are eliminating $5 check card fee's immediatley, and will refund all fee's charged from June till now. Good move from ST. Listening to their consumers and making a change. Makes my job easier.
Credit unions have exclusive membership, it can be dependent on your job, location of residence, location of the place you worship, veteran status, etc... Some have credit score requirements. The members are the share holders and they are nonprofit. Banks are for profit. You generally get better % rates at CU's. They are insured differently (which guarantees the money you deposit), ncua (credit unions) insures more money than the fdic (banks) and the fdic has a lot longer to pay it off. Credit unions are smaller, and atms and branch locations can be an issue. A lot of them do shared banking so you can do your banking at a different CU if its branch is closer. They also usually wave atm fees at other CU's atms. My CU pays US bank, so that I have no fees at US bank atms either. Why do people bank at banks? Advertising. BOA paid no taxes and made BILLIONS in profits last year. Now give them your five dollars and like it! Sent from my SGH-T959V using Tapatalk
http://www.zerohedge.com/news/bank-america-drops-5-debit-card-fee it looks official that hey are dropping it. also, wells fargo was testing it and have stopped testing a $3 charge
Wells Fargo may not be making any money off of a monthly debit card fee, but they'll find ways to profit. They changed health insurance for employees. They use to have about 4 or 5 different options to choose from depending on what you needed. Now they just have two options that both suck (high deductible) and cost a lot. Thankfully, I no longer work for them.
