OneGrassRoot (19,315 posts)
Check this out! The Occupy Money Cooperative
Last edited Sun Jul 21, 2013, 09:42 PM USA/ET - Edit history (2)
http://www.occupycooperative.com/
Another Occupy-Inspired Innovation – The Occupy Card. A prepaid debit card by the 99% for the 99%.
Access to financial services is an important public service. It should belong to the public. Your support will help launch the coop and its first product, the Occupy Card.
The Occupy Money Cooperative will be owned and controlled by its members. Its members will consist of its customers. If you use its products, you will automatically become a member of the cooperative, with a voice in how the coop will be run, and what services it will develop.
It’s that simple.
Read more about the Coop on this site. This Coop is the start of something very exciting - a transformation of how we use financial services, who controls them, and who benefits from them.
It’s time to take the financial system back. Join the Revolution.
More About The Occupy Card
The Occupy Money Cooperative will provide people access to low cost financial services. The first service will be The Occupy Card. It's a low cost, full featured pre-paid debit card.
The Occupy Card will provide the basic financial services that people need and use on a daily basis without the cost, or the balances required for a regular bank account.
The Occupy Card will be an individual’s debit card, a savings facility, and a “virtual checkbook†all rolled into one easy-to-use package: a “bank on a cardâ€.
The Occupy Card is an innovative financial product that everyone can use. There will be no upfront cost. The card will be 99c per month. --When was the last time you saw a cents sign for anything, let alone a financial service?
FDIC Safety - As the service is covered by FDIC insurance, Occupy Card holders get the same level of safety as a traditional bank account.
The Occupy Card provides everyone with a safe way to pay for items in stores or on the Internet, and a way to send your landlord the monthly rent check without getting nickel and dimed or building up debts.
The Occupy Card has a host of mobile apps and other services including mobile deposit capture of checks.
This card will directly tackle the concerns of the unbanked and the underbanked. Users of The Occupy Card will be able to participate in the cashless economy at a significantly lower cost.
The Occupy Card will be a highly useful, high-quality product, based on an innovative concept and platform. Many will see Card use as “A Protest with Every Purchase,†BUT, the card isn’t only for Occupy supporters. People who are unbanked, underbanked, and even just angry banked, will all benefit from using the Card because it is a better and cheaper product.
http://www.occupycooperative.com/
[youtube=425,350]rVdBYtwNknI[/youtube]
GreenStormCloud (10,945 posts)
22. I already get all of that for free.
I get a debit card, no fees checking account, online access, online bill-pay, direct deposit, national ATM network (no fees) and if I do need to talk to someone face-to-face there is a local branch.
The bank also runs promotions in which I get cash back if I use the debit card at certain merchants. Mostly they are merchants that I don't use, but occassionally I do. It is nice to sometimes see a small, extra deposit show up,
Why should I leave a bank that is giving me all that for free to pay for a card that has less?
OneGrassRoot (19,315 posts)
23. I take it you're either not familiar with or not a fan of the Occupy Movement? n/t
GreenStormCloud (10,945 posts)
25. Why should I pay for something I am getting for free? N/T
Zorra (19,524 posts)
27. You really, honestly don't have any clue? nt
GreenStormCloud (10,945 posts)
32. You want me to use it, offer me an advantage to use it.
In entering competition with the banks, the Occupy Movement (OM) will discover that they will have the same problems that the banks do. They will have people who will be trying to take advantage of them. They will have employees to pay. They will have to find a way to make money to pay their bills, so like the banks they will have to loan out money. They will be governed by the same rules that govern banks and credit unions. IOW - They will become a credit union.
IOW, this plan is a group of bankers who are trying to use the OM name to market their product, and at a higher price.
I suggest that it is you who doesn't have a clue.
Star Member Zorra (19,524 posts)
41. The clue is: It is an alternative to supporting the system that crashed the world economy in 2008.
Last edited Mon Jul 22, 2013, 01:05 PM USA/ET - Edit history (1)
This may not be important to you, so, therefore, you may not see any value in it for yourself.
That's your right, and choice.
The Occupy Money Cooperative will be owned and controlled by its members. Its members will consist of its customers. If you use its products, you will automatically become a member of the cooperative, with a voice in how the coop will be run, and what services it will develop.
Like a Credit Union?
Sun Jul 21, 2013, 08:52 PM
OneGrassRoot (19,315 posts)
Check this out! The Occupy Money Cooperative
It's a low cost, full featured pre-paid debit card.
...I've heard of deadbeats using pre-paid credit cards to give the illusion of credit-worthiness, but you can't use a debit card without a funded account backing it.
What in hell is a pre-paid debit card? By definition, all debit cards are "pre-paid".
I've heard of deadbeats using pre-paid credit cards to give the illusion of credit-worthiness, but you can't use a debit card without a funded account backing it.
A large portion of the revenue stream from the Occupy Card will go to the Occupy Money Cooperative whereas the entire revenue stream typically goes to the shareholders of a bank.
Marie Marie (2,203 posts)
8. How long till the big banks find a way to shut this down?
Exciting indeed - hope it becomes wildly successful.
mick063 (1,452 posts)
13. Circumvent the overlords.
Last edited Mon Jul 22, 2013, 12:19 AM USA/ET - Edit history (2)
Bypass their system. Abstain from purchasing "golden parachutes" for Bankers that produce failure.
I love this idea.
Beware though. ALEC will work on passing legislation to kill it ASAP.
Edit: I just joined and am a member.
I use a debit card from my local credit union and pay cash for almost everything, so I don't see myself as really needing the service at this time. I will, however, keep tabs on their services and see how I can fit it to my lifestyle. If they require capital to extend loans, and the money is federally insured, I am tempted to place a decent chunk of money into a savings account with them.
I need to read up on this a bit.
Star Member sabrina 1 (36,254 posts)
16. Excellent, Occupy is changing the world, they are so innovative.
Star Member MineralMan (55,762 posts)
40. Yes, well, I read the information at the link.
This will be a Visa debit card, and will be offered through a bank. They haven't identified the bank yet, though.
Just because something says "Occupy" on it does not mean that it is not more of the same old banking stuff.
Do go and read the link thoroughly.
A sucker is born every minute.
I think the tag line for this card should be "destined to fail miserably".Perfected by owebuma.
Xyzse (2,626 posts)
48. Interesting... I'd be very curious
Last edited Mon Jul 22, 2013, 02:57 PM USA/ET - Edit history (1)
Oh, it's a prepaid card? I don't know, those things have a bad reputation.
I mean, it is 0.99 per month, which is affordable, but for what?
To access the money that you pay in to it, to use for debit/credit card transactions?
I guess, it works a bit since many banks don't always provide service for some areas.
Thing is, what else does it provide? Does it provide a no cost check cashing service? Ability to deposit checks in to it, to make it act like a bank checking account?
I'd need more info.
Star Member Zorra (19,524 posts)
41. The clue is: It is an alternative to supporting the system that crashed the world economy in 2008.
I love how the website doesn't include any terms and conditions like any reputable financial site would do.
Star Member MineralMan (55,766 posts)
40. Yes, well, I read the information at the link.
This will be a Visa debit card, and will be offered through a bank. They haven't identified the bank yet, though.
Just because something says "Occupy" on it does not mean that it is not more of the same old banking stuff.
Do go and read the link thoroughly.
DUmmy economics:
(http://i237.photobucket.com/albums/ff68/kayaktn/mcduck_zps6433a8d5.jpg) (http://s237.photobucket.com/user/kayaktn/media/mcduck_zps6433a8d5.jpg.html)
In other words some banker is putting Occupy in the name and getting ready to charge DUmmies 99 cents a month for a debit card. :rotf:
Oh Sabrina you are such an idiot. "Occupy is changing the world. They are so innovative." ::) It's a prepaid Visa debit card that you have to keep paying into for the pleasure of using your own money. That's not innovative.
Money for nothing and chicks for free.
Where do I sign up?
:thatsright:
Money for nothing and chicks for free.
Where do I sign up?
:thatsright:
Hey . . . you got to install microwave ovens . . .I remember microwaves used to be a lot bigger and heavier. Those plastic Chinese models just don't take as much effort. :-)
I remember microwaves used to be a lot bigger and heavier. Those plastic Chinese models just don't take as much effort. :-)