OneBuckeye
Posts: 5,888
Sep 30, 2011 7:39am
http://online.wsj.com/article/SB10001424052970204138204576600800330404330.html
Doh. This is almost as bad as paying $12 a year for a minor league website. Justin, start a bank now!
Doh. This is almost as bad as paying $12 a year for a minor league website. Justin, start a bank now!
OneBuckeye
Posts: 5,888
Sep 30, 2011 8:14am
Oh and for those that don't read the article. Chase and Wells Fargo aren't far behind...
ts1227
Posts: 12,319
Sep 30, 2011 8:17am
OneBuckeye;916772 wrote:Oh and for those that don't read the article. Chase and Wells Fargo aren't far behind...
I have Chase, and will move to Huntington if it happens. Huntington seems to be reeling in customers by holding off on this stuff (see them reintroducing a completely free account earlier this year).
justincredible
Posts: 32,056
Sep 30, 2011 8:22am
Absurd. I hope they lose every customer.
THE4RINGZ
Posts: 16,816
Sep 30, 2011 8:23am
justincredible;916784 wrote:Absurd. I hope they lose every customer.
+1
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WebFire
Posts: 14,779
Sep 30, 2011 8:31am
Yep, reel them in and then start charging.ts1227;916775 wrote:I have Chase, and will move to Huntington if it happens. Huntington seems to be reeling in customers by holding off on this stuff (see them reintroducing a completely free account earlier this year).
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Manhattan Buckeye
Posts: 7,566
Sep 30, 2011 8:41am
Not to take this to the politics forum, but this is fallout from the Dodd-Frank provision that capped bank fees on merchants for debt card transactions. That was a colossal form of revenue so instead of collecting from the merchants these cash-strapped banks now are aiming directly at the consumer. I can imagine cardholders being angry.
gorocks99
Posts: 10,760
Sep 30, 2011 8:43am
Joke's on them, I'll just pay in cash or CC 
OneBuckeye
Posts: 5,888
Sep 30, 2011 8:44am
If they charge me I will make make as many small purchases with my debit card as possbile. Hooray for .50 mcdonalds cones.
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I Wear Pants
Posts: 16,223
Sep 30, 2011 8:51am
Oh no, the poor cash-strapped banks!Manhattan Buckeye;916803 wrote:Not to take this to the politics forum, but this is fallout from the Dodd-Frank provision that capped bank fees on merchants for debt card transactions. That was a colossal form of revenue so instead of collecting from the merchants these cash-strapped banks now are aiming directly at the consumer. I can imagine cardholders being angry.
M
MontyBrunswick
Sep 30, 2011 9:03am
I use a Credit Union.
LJ
Posts: 16,351
Sep 30, 2011 9:09am
Thanks for posting a link that you have to subscribe to readOneBuckeye;916750 wrote:http://online.wsj.com/article/SB10001424052970204138204576600800330404330.html
Doh. This is almost as bad as paying $12 a year for a minor league website. Justin, start a bank now!
http://finance.yahoo.com/news/Bank-of-America-plans-to-cnnm-3257381726.html?x=0
Pick6
Posts: 14,946
Sep 30, 2011 9:13am
Glad I have Huntington. Stupid move.
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Manhattan Buckeye
Posts: 7,566
Sep 30, 2011 9:19am
If it makes you feel better they are all too big to fail. Assuming you can read a balance sheet I'll be happy to post their quarterly results and cash position. These banks are in big trouble. They haven't recovered from the '07 credit crunch and '08 crash and they are sucking wind.I Wear Pants;916818 wrote:Oh no, the poor cash-strapped banks!
This whole thing about the economy being in terrible shape isn't a figment of imagination. There are actually real numbers behind the mess. Some fortune 100 companies are doing well be slimming down and selling off inventory - banks aren't among this group. The entire industry is a disaster, having record low interest rates isn't helping their bottom line.
T
thavoice
Posts: 14,376
Sep 30, 2011 9:20am
but if you only use it to take out cash then they wont charge you!
How nice of them.
I would bolt if I was a customer. The use of debit cards has replaced checks for most people. Banks want to talk about the costs and what another poster said on on here, but what about the savings they should be seeing from the less checks they have to handle, process, scan, etc?
How nice of them.
I would bolt if I was a customer. The use of debit cards has replaced checks for most people. Banks want to talk about the costs and what another poster said on on here, but what about the savings they should be seeing from the less checks they have to handle, process, scan, etc?
Scarlet_Buckeye
Posts: 5,264
Sep 30, 2011 9:21am
If Charter One ever starts this kind of crap, I'm out.
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Nate
Posts: 3,949
Sep 30, 2011 9:37am
You must be an idiot because the previous link worked perfect for me.LJ;916836 wrote:Thanks for posting a link that you have to subscribe to read
http://finance.yahoo.com/news/Bank-of-America-plans-to-cnnm-3257381726.html?x=0
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Nate
Posts: 3,949
Sep 30, 2011 9:40am
Also, this is great news for the business I work for!
Iliketurtles
Posts: 8,191
Sep 30, 2011 9:44am
Yeah the WSJ link worked for me as well.
As for them doing this Im not surprised I'm actually surprised this hasn't already happened.
As for them doing this Im not surprised I'm actually surprised this hasn't already happened.
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Nate
Posts: 3,949
Sep 30, 2011 9:49am
We got an article at work the other day that stated that CitiBank I believe it was is going to start charging people $20/mo if they don't hold more than $1,500 in their account & if they don't have a checking account w/ direct deposit.
Commander of Awesome
Posts: 23,151
Sep 30, 2011 9:57am
I know my coworker is already switching banks because of this. I think he's switching to navy credit union.justincredible;916784 wrote:Absurd. I hope they lose every customer.
justincredible
Posts: 32,056
Sep 30, 2011 9:58am
Good. I would've switched the day they announced this bullshit.Commander of Awesome;916900 wrote:I know my coworker is already switching banks because of this. I think he's switching to navy credit union.
T
thavoice
Posts: 14,376
Sep 30, 2011 10:08am
Ive been with a local bank since 1991 and I like it. Sometimes they are slower on the technology and such but for the most part they dont have alot of this BS.
I think all I need is 100 in the bank to get free checking and savings.
Chase wanted alot more when I opened an acct there, but since my mortgage is there that was sufficient enough to get free accounts.
I think all I need is 100 in the bank to get free checking and savings.
Chase wanted alot more when I opened an acct there, but since my mortgage is there that was sufficient enough to get free accounts.
Q
QuakerOats
Posts: 8,740
Sep 30, 2011 10:15am
You can thank Barney Frank and Chris Dodd, liberal hacks and sponsors of the Dodd-Frank financial 'reform' (NOT) bill. This is just another piece of massive and wreckless regulation that does nothing to address too-big-to-fail, but burdens all banks, including community banks, and will lead to all types of other fee enhancements in order for the banks to survive. Once again, liberalism generates the exact opposite of its stated intent.
Change we can believe in ........
Change we can believe in ........
ts1227
Posts: 12,319
Sep 30, 2011 10:24am
^^ this fucking guy...