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Author Topic: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr  (Read 1800 times)

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Offline Freeper

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Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« on: June 26, 2011, 11:33:40 AM »
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Amerigo Vespucci Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Sun Jun-26-11 10:56 AM
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Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Screw Debit Card Users
   
Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Screw Debit Card Users Instead

First it started with ATMs, which banks used to cut their workforce. Then it was debit cards, which automatically processed transactions that used to be done manually. Every step of the way, banks have figured out how to get us to do the work for them, and now they're looking to charge us for the privilege. And yet, the administration doesn't understand why we want Elizabeth Warren running the financial consumer protection bureau? Because we need someone who's on our side:

Already, JPMorgan Chase & Co., Wells Fargo & Co. and many other banks are reducing or phasing out rewards programs that gave users cash back for using debit cards. Chase has been testing a monthly $3 fee for debit cards in some states, and Bank of America Corp. and Citigroup Inc. have added new fees to some checking accounts.

Consumer advocates are steamed. Electronic debits are much less expensive to process than checks or cash; banks have saved billions in operating costs, said Ed Mierzwinski, consumer program director at the U.S. Public Interest Research Group. But the industry has largely pocketed those savings rather than pass them along to customers, he said, and now they're looking to charge users for the convenience.

"We were trained to use cards, and now they're telling us it's not enough, wanting to charge us for the privilege," Mierzwinski said. "It's diabolical."

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1365767

How are overdraft charges a license to steal?
When you go into overdraft you are spending the bank's money not your own.
It's quite easy to avoid overdraft fees by simply not spending when your money runs out.
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Offline jukin

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #1 on: June 26, 2011, 11:40:05 AM »
Hey DUmbass this is the fallout of another 3000 page bill put forth and supported only by democrats and gleefully signed by the moron that occupies the WH.
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When you are the beneficiary of someone’s kindness and generosity, it produces a sense of gratitude and community.

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Offline bijou

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #2 on: June 26, 2011, 11:51:26 AM »
Why the sudden excitement about ATMs? They have been around since the 1970s.
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Offline Ballygrl

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #3 on: June 26, 2011, 11:59:48 AM »
Isn't Dick Durbin involved in proposing fees somehow on Debit Cards?
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Offline Thor

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #4 on: June 26, 2011, 12:04:30 PM »
Already the small businesses get raped over debit or credit card processing fees. Who pays in the long run?? We, the consumer.
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Offline I_B_Perky

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #5 on: June 26, 2011, 08:13:13 PM »
Do what I do Dummie... if a bank pisses you off, go find a new bank!!!  Citibank started charging me a fee for their credit card a couple of years ago cause I didn't charge enough. Now if I charged $2500 a year they would waive the fee. I had that card since 93 and never paid a fee to have it so I waived the card and told them to cancel it. My current bank gave me one and the interest rate was 8.8 percent. Same credit limit, $20,000. No fee so I went with them. They start charging me a fee for anything, then I will dump them and go to some other bank along with my CD's and checking acct.  They want my business, they will do things my way.

Oh and one other thing Dummie... don't spend more money than you have and you won't have to worry about overdraft fees!!! Pay your CC bill on time and you won't have late charges. It's really that simple. If you find yourself going to be late on a payment... call them up and explain why!!! If you are not a deadbeat, usually they will give you a pass. Same deal with an overdraft. Now this only works once or twice so the moral of the story is to not be a deadbeat!!!
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Offline Firechild

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #6 on: June 26, 2011, 09:07:11 PM »
Hey Dummy, you're not supposed to overdraw your account.  IDK if you know this or not, but if you balance your account that won't happen.  If by chance you're not good in keeping records, the bank will provide you the "option" that if you do NOT have enough in your account to cover that purchase, then the bank will not accept your debit or credit. If I were you, I would choose that option in order not to incur bank charges.

I hope we provided you with some simple solutions to your blame the bank rant.
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Offline BlueStateSaint

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #7 on: June 27, 2011, 04:19:07 AM »
Quote from: Firechild on June 26, 2011, 09:07:11 PM
Hey Dummy, you're not supposed to overdraw your account.  IDK if you know this or not, but if you balance your account that won't happen.  If by chance you're not good in keeping records, the bank will provide you the "option" that if you do NOT have enough in your account to cover that purchase, then the bank will not accept your debit or credit. If I were you, I would choose that option in order not to incur bank charges.

I hope we provided you with some simple solutions to your blame the bank rant.

The DUmbshit won't like that.  Why?  It shifts the responsibility to the DUmbshit, or DUmb****, if you prefer.
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Offline Firechild

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #8 on: June 28, 2011, 01:08:16 AM »
Quote from: BlueStateSaint on June 27, 2011, 04:19:07 AM
The DUmbshit won't like that.  Why?  It shifts the responsibility to the DUmbshit, or DUmb****, if you prefer.
Noted...and I do prefer the latter of the two choices  :cheersmate:
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Offline delilahmused

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #9 on: June 28, 2011, 01:49:42 AM »
Does Diebold make ATM's?

Cindie
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Offline Rebel

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #10 on: June 28, 2011, 08:47:28 AM »
Quote from: delilahmused on June 28, 2011, 01:49:42 AM
Does Diebold make ATM's?

Cindie

Yup.  :evil:
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Offline vadawg

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #11 on: June 28, 2011, 11:14:13 AM »
well luckily i listened to twix and used all my money to buy gold paint so i am protected against the banks     :???:
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Offline GOBUCKS

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Re: Now That Banks Can't Use Overdraft Charges As License To Steal, They Plan To Scr
« Reply #12 on: June 28, 2011, 12:48:28 PM »
Quote from: vadawg on June 28, 2011, 11:14:13 AM
well luckily i listened to twix and used all my money to buy gold paint so i am protected against the banks     :???:
Gold paint?
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