Oh joy

[kierthos]

Bank of America (among others) is going to start charging a $5/month fee if you use a debit card. I just love the idea of having to spend my own money for the privilege of spending my own money.

Comments

[thedeadcat]

Man, fuck THAT noise.

[kierthos]

*nod* I'm going to try and find out if this applies unilaterally to all debit card holders, or if I can find some way to avoid the charge. I'd switch to the other nearby bank (Wells Fargo), but they're planning on doing this shit too. Only it's a $3/month charge.

[jdack]

For the time being Wells Fartgo is only doing it in some states, including this one. Not sure about yours.

Still horse shit though.

[tmofee]

the fuck??? all our banks here are getting us changed over to debit cards from the standard savings... they'd be slaughtered if they tried something like that..

[kierthos]

The banks here have spent years building up the idea of debit cards, to the point that there are more debit cards in the U.S. than there are people. (Something like 520 million debit cards vs. 320 million people.)

So, needless to say, there are some people (like me) who are pissed over this.

[tmofee]

now when you say debit card, you mean a card which you can buy things online, but only with your own money? Here in oz credit cards and debit cards are different. Ie - if I buy something using my debit card and there's no cash in the account, it won't go through, Terry fail...??

[mithras]

No, that's it. Only some of the debit cards will go ahead and let you buy it if you don't have cash, letting you go over your account balance, and charging you a fee for doing so.

[tmofee]

actually I just checked, my bank does that too! Hah... Never mind, geez I'm a dope. It's not just you folks over there

[egearman]

I do not believe Regions bank (where I bank) does that. But I also have a decent balance and direct deposit.

And it's also not horribly far from you.

[kierthos]

*nod* Wells Fargo is a block away, and they're only doing the debit card monthly fee in some markets, so we'll see. But yeah, I strongly suspect I will be banking somewhere else before January.

[cuddlycthulhu]

Credit union, man. Get a credit union.

[dreamshade]

Ugh, such a bitch to have to transfer my paycheck deposit and things over, but sounds like it's finally time to stop being a lazybutt and do it...

[kierthos]

*nod* I have to look into how to do this (I mean, I know it's just a form) as I don't want to lose a paycheck to the "oh, you don't bank here any more" *yoink* effect.

[cuddlycthulhu]

I have accounts with Chase and with Alliant Credit Union. My experience with both has been good at times but with my CU it has yet to be bad. ACU has managed a car loan, a savings account, and a credit card for me with zero issues on their end and I've never had to go into a branch.