BOA Charging $5 on Debit Cards - Thank you Democrats - you F'ng Morons

[Soul Crusher]

   Explain why I'm wrong. 

if BoA wants to charge for this service, people will pay it, or they'll leave. 

I don't think the govt should be regulating what private firms charge.  Customers will happily leave for other banks, who will advertise "We DONT charge $5 like BoA does..."

They are raising the fees to off set NEW costs imposed by NEW regulations.  The costs don't go away just because they dont raise the fees on an ATM card - they raise it somewhere else costing the consumer who always ends by being the victim of the govt.   

[Option D]

They are raising the fees to off set NEW costs imposed by NEW regulations.  The costs don't go away just because they dont raise the fees on an ATM card - they raise it somewhere else costing the consumer who always ends by being the victim of the govt.   

Change banks.. free market..

[240 is Back]

They are raising the fees to off set NEW costs imposed by NEW regulations.  The costs don't go away just because they dont raise the fees on an ATM card - they raise it somewhere else costing the consumer who always ends by being the victim of the govt.   

point 1-
I thought bankers had WAy too much influence on the Obama adminstration, that he was a tool of Wall Street... Why did they allow him to charge them so much

point 2-
aren't they still making insane profits?  Despite the world economy being in a huge slump, Bank of America posted a $1.6 billion 4Q income, eked out profit for 2011, after paying everyone's giant salary.   

point 3-
why is BoA the only company that needs to raise prices?  How is my bank able to contend with the same govt regulations and not charge $5?  The consumer here chooses to be a victim by choosing the one bank that charges $5 for this service.

I await your 3 point response, 333386.

[Soul Crusher]

Change banks.. free market..

LOL!!!!

You think other banks are not affected by Dodd Frank ?  

Go talk to your banker and bring up Dodd Frank and see what they say.  

Personally I keep my accounts at a smaller local bank since the TBTF banks make me sick, but this is just an example of do gooder liberal panzie asses kicking the consumer right in the balls.    

[Option D]

point 1-
I thought bankers had WAy too much influence on the Obama adminstration, that he was a tool of Wall Street... Why did they allow him to charge them so much

point 2-
aren't they still making insane profits?  Despite the world economy being in a huge slump, Bank of America posted a $1.6 billion 4Q income, eked out profit for 2011, after paying everyone's giant salary.   

point 3-
why is BoA the only company that needs to raise prices?  How is my bank able to contend with the same govt regulations and not charge $5?  The consumer here chooses to be a victim by choosing the one bank that charges $5 for this service.

I await your 3 point response, 333386.

[240 is Back]

LOL!!!!

You think other banks are not affected by Dodd Frank ?  

WHy haven't the other banks added a $5 fee?  BoA isn't as efficient as them?  Sounds like the market will finish off BoA and other banks will step in.  More efficient banks with smaller payrolls maybe.

[Soul Crusher]

You are being charged in other areas if not the ATM fees.


http://theweek.com/article/index/233833/is-the-era-of-free-checking-accounts-over

point 1-
I thought bankers had WAy too much influence on the Obama adminstration, that he was a tool of Wall Street... Why did they allow him to charge them so much

point 2-
aren't they still making insane profits?  Despite the world economy being in a huge slump, Bank of America posted a $1.6 billion 4Q income, eked out profit for 2011, after paying everyone's giant salary.   

point 3-
why is BoA the only company that needs to raise prices?  How is my bank able to contend with the same govt regulations and not charge $5?  The consumer here chooses to be a victim by choosing the one bank that charges $5 for this service.

I await your 3 point response, 333386.

[tu_holmes]

point 1-
I thought bankers had WAy too much influence on the Obama adminstration, that he was a tool of Wall Street... Why did they allow him to charge them so much

point 2-
aren't they still making insane profits?  Despite the world economy being in a huge slump, Bank of America posted a $1.6 billion 4Q income, eked out profit for 2011, after paying everyone's giant salary.   

point 3-
why is BoA the only company that needs to raise prices?  How is my bank able to contend with the same govt regulations and not charge $5?  The consumer here chooses to be a victim by choosing the one bank that charges $5 for this service.

I await your 3 point response, 333386.

They tried it... people bitched... They didn't do it.

[Soul Crusher]

They tried it... people bitched... They didn't do it.

Right but they are finding other ways to pay for this.   This is like the casino - the house rarely if ever loses. 

http://theweek.com/article/index/233833/is-the-era-of-free-checking-accounts-over

[240 is Back]

You are being charged in other areas if not the ATM fees.

my bank charges me no fees.  Their fee is the use of my money when i'm not using it.  If I have $X sitting in there, they get to use it for lending and investing.  

[Soul Crusher]

my bank charges me no fees.  Their fee is the use of my money when i'm not using it.  If I have $X sitting in there, they get to use it for lending and investing.  

Actually you are paying a fee thanks to Bernake and Obama, and bush before him keeping rates at zero. 

[Soul Crusher]

Average ATM Surcharge Reaches New High

Published: Wednesday, 26 Sep 2012 | 10:54 AM ET Text Size By: Ann Carrns, The New York Times   Twitter 

via CNBC


 
It’s getting more important to consider the size and scope of your bank’s network of A.T.M.’s if you use them frequently.

An annual analysis of checking accounts from Bankrate.com finds that the average A.T.M. surcharge — the fee charged by the machine’s operator to a noncustomer — rose 4 percent to a new record of $2.50.

This is the eighth consecutive year that the average surcharge has increased. And, for the first time, all of the banks surveyed by Bankrate.com for the report charge noncustomers to use their A.T.M.’s.


The increases are part of an overall attempt by banks to replace fee revenue lost because of new caps on the amount they can charge retailers for debit-card transactions.

The surcharge gets even more expensive when your own bank gets into the act, charging you — its customer — for using a competitor’s machine. This fee rose 11 percent, to $1.57.

For a customer encountering both fees, the average total of $4.07 is also a new record. It is up almost 7 percent from last year.

What steps do you take to avoid A.T.M. surcharges? And what’s the biggest one you’ve ever paid?

[Option D]

Average ATM Surcharge Reaches New High

Published: Wednesday, 26 Sep 2012 | 10:54 AM ET Text Size By: Ann Carrns, The New York Times   Twitter 

via CNBC


 
It’s getting more important to consider the size and scope of your bank’s network of A.T.M.’s if you use them frequently.

An annual analysis of checking accounts from Bankrate.com finds that the average A.T.M. surcharge — the fee charged by the machine’s operator to a noncustomer — rose 4 percent to a new record of $2.50.

This is the eighth consecutive year that the average surcharge has increased. And, for the first time, all of the banks surveyed by Bankrate.com for the report charge noncustomers to use their A.T.M.’s.


The increases are part of an overall attempt by banks to replace fee revenue lost because of new caps on the amount they can charge retailers for debit-card transactions.

The surcharge gets even more expensive when your own bank gets into the act, charging you — its customer — for using a competitor’s machine. This fee rose 11 percent, to $1.57.

For a customer encountering both fees, the average total of $4.07 is also a new record. It is up almost 7 percent from last year.

What steps do you take to avoid A.T.M. surcharges? And what’s the biggest one you’ve ever paid?

youre mad at what a private company does!!!@

[Soul Crusher]

youre mad at what a private company does!!!@

Idiot - the caps were placed on by the Durbin Amendment you incompetent!  The banks are now pushing THAT NEW COST THEY DID NOT PREVIOUSLY HAVE on to the consumer. 

[Kazan]

Also know as the law of unintended consequence