Wachovia/WF charging for debit use (low income, for sale, insurance)
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Sadly, enough people will still do it, and probably not even realize they are being charged, and Wells Fargo will be justified. But it's OK, we can just go to another bank who doesn't, well, of course until they all decide to "align" with the competition and everynoe charges for it. Capitalism FTW!
Funny, fifteen years ago the banks wanted everyone to use debit cards more so they could save money in check processing. I guess they've already spent all those savings on bad mortgages.
Actually, you can thank the gub'ment for placing regulations on the fees that they charged bid'nesses. They have to make up the revenue loss somewhere.
Its a matter of time before all banks do it , or businesses charge you for debit card purchases.
My insurance charge a banking card fee for my online automatic payments.
I use my debit once a week and use cash back with the once week purchase so I am not really to concern.
With credit card skimmers out there, heck there even for sale on net. I dont want people to have access to my livelihood.
Its a matter of time before all banks do it , or businesses charge you for debit card purchases.
My insurance charge a banking card fee for my online automatic payments.
I use my debit once a week and use cash back with the once week purchase so I am not really to concern.
With credit card skimmers out there, heck there even for sale on net. I dont want people to have access to my livelihood.
Cash is the way to go.
Businesses (including your insurance company) are charged for credit card transactions already. The price is either built into the goods you buy, or you are charged a fee, like with the automatic draft for your insurance. This is about the bank itself charging customers a monthly fee simply for using their debit cards. Even if you only use it once a week, you will still be charged.
My guess is the only way to avoid it is to switch banks, go to a credit union, or use cash only and no debit. Hopefully it will fail miserably. Switching banks is a giant PITA.
How much more can banks rob people??????? I am with a Credit Union now, f the big banks, hope they all fail, and they are going down the path of self destruction.
Its a matter of time before all banks do it , or businesses charge you for debit card purchases.
My insurance charge a banking card fee for my online automatic payments.
I use my debit once a week and use cash back with the once week purchase so I am not really to concern.
With credit card skimmers out there, heck there even for sale on net. I dont want people to have access to my livelihood.
Cash is the way to go.
A business gets charged by it's processor for debit card/credit card transactions. Depending on how you use the card, pin no pin etc....will determine the percentage of the sale they take. Anywhere from less than 1 percent to 3.5 percent of the sale. Some places may higher rates than that.
Using cash is great until we move to a cashless society, which is coming.
Actually, you can thank the gub'ment for placing regulations on the fees that they charged bid'nesses. They have to make up the revenue loss somewhere.
What bank told you that lie? The government could drop every regulation there is and the banks would still cry broke.
Gov't told the banks to loan a small % of their money to low income families.. banks turned around and gave out loans to anyone with a pulse and then claimed the Gov't forced them to do it.
Banks love money and they will always find a reason to charge more for lost revenue.
Change to a smaller local bank. Use a no fee credit card, but pay it off every month...
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