At the credit union I use, there are no fees. Don't even need direct deposit or anything, only need to have a minimum of 5 dollars in the account at all times. lol. Which I am sure anyone can do.
I heard on the news this morning. CNN I think, said dont buy into the need, according to the big banks. He said they were charging 400% more than what they needed before those regulations went into effect. They also recommended shopping around.
I heard something last night on NPR I believe, from one of the big bank reps. Basically what it said was that with the new regulations in place (protecting us as customers from getting raked over the coals by banks with unlawful/questionable charges) "we have to do something to generate the lost revenue..... When I heard that, I almost drove head first into the biggest nearest tree!
That is exactly what the new regulations were supposed to be protecting us from, and now they are at it again.
Shop around folks.
Yes, Wells Fargo, The OTHER bank! It ***** as well.
Our account at the credit union is free as long as you have direct deposit! That's it....
Wells Fargo charges $5 to cash a check here, even if it was drawn on from their bank! Then they try to pressure you into getting an account to "avoid" paying that $5 fee.... now their doing this???? I had to cash a check one day at WF... the lady said it would be $5... I said what for, she told me I could open an account and avoid the charge.... I asked her, "You are charging me to cash a check, drawn from your bank....why would I ever bank with you when you are milking me before I get an account?" She ended up with the dumbest look on her face, like I made sense. I asked to speak to her boss and her boss "was not available"..... bet he/she was around for bonuses!
Accounts are charged a fee, depending on the amount you have in the bank and the type of account you have. Debit card usage has incurred fees at my bank but not using it as a cc. Yes there are lots of fees the banks already get. Some banks charge no fees to have an account but charge anyone not having an account a fee to cash a check there even if the check is drawn on said bank. BOA is notorious for this. They charge 5.00 to cash a check drawn on BOA, if the person cashing the check does not have an account at that bank. I never saw a bank do that till I saw BOA do it.
I'm still completely stunned you all pay no fees. Do you pay a monthly fee of any sort? I have never heard of such a thing. Where do I sign up?
I think we need to see if its too big to fail, myself.
Well, here's the scoop. The banks were charging the places of business (for each transaction) where our debit card purchases were made. It was a very lucrative income for the banks. The new Federal regulations have stopped this practice. The banks passed their loss of income onto their customers.
This is no surprise to me. I'm with sweetpea. We have all of our accounts in a small credit union. There are no surprises, less atm's so you are tempted to spend less and when we do call customer service, we know who we are speaking with. I worked at Citizens Bank for 10yrs and NEVER once got enticed to open a "free employee" account...NO thank you!
I am so glad I have my money in a credit union. I love my credit union! I don't pay any fees(no fees for overdraft, no fees to have the account, no fees to withdraw money at ATMS or where ever, etc.). It's great! :) My fiance has an account through Wells Fargo and Bank of America, both of which are going to be charging fees, some of which are already in effect. ugh. I am not switching to a bank ever and once we're married, we're sticking with my credit union.
Is just more greed any way you cut it imo. There way of saying me first..... No more, Im done with em and if others continue to put up with them and their greed, well lets just say they give up their right to complain imo.... I swear I will pull all my funds and put em elsewhere and overseas seems to be the pop thing to do.... lol.... Can u tell the whole situation really really irks me? lol
Yep, Regions is now charging us a $4.00 a month fee for our debit card. A family member, who is a bank branch manager, told me that it was new Federal regulations that are causing the banks to have to charge this fee to recoup their losses. I will get him to re-explain it to me.
I have accounts at different banks. I have my business acct at one and personal at BOA. BOA charges a monthy fee for the account itself. I never use my debit card as a debit for the reason that you get charged. I always use it as a cc. The business acct was Wachovia whom I loved, no fees at all, and Wells Fargo took it over and are also talking fees. I will close all of em and go to a small community bank. Its the nationals it seems are the greedy ones.
You guys don't have this already? Here, we pay a monthly service fee to the bank, and depending on what plan you choose, you get X amount of debit transactions a month. After that you pay, and pay big sometimes. So we have always had to do this here. How do you pay bank fees now? I'm super curious.
Amen... people, get your damned money out of this institution. Tell the next bank you put your money into that if they pull crap like this, you'll be bank shopping again. Do it till you've run out of banks, then do like the billionairs do.... bank off shore!
I have had it with the banks. Especially this one! I think its time for the people to do some talking and some walking, out with their money. I think it might be a good picket sight, what say you?