Tampa Community Bank to PAY new depositors $5 a month to use services

[Freeper]

banned from Kos (1000+ posts) 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    Fri Oct-14-11 02:50 PM
Original message
Tampa Community Bank to PAY new depositors $5 a month to use services
   
http://www.bradenton.com/2011/10/12/3563762/community-b...

MANATEE -- Community Bank, which has 17 branches throughout Manatee and four other southwest Florida counties, is joining the outcry against bank debit fees by offering new customers the opposite: a monthly payment.

The $5 per month Community Bank is offering anyone who opens a Value Checking account is a direct response to the $3 to $5 monthly debit card fees larger banks are starting to charge, bank officials said.

“We needed to do something to help consumers who are under attack from behemoth national banks charging fees that just don’t make sense,” said Katie Pembles, Community Bank president. “People have a choice of where to bank, and at Community Bank, we thought paying people $5 per month rather than charging them $5 per month was a good way to set us apart.”


A stick in the eye to Bank of America.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x2117507

It will be interesting to follow this, when 50,000 moonbats open accounts with $10 and demand their free $5 every month, I'm sure this will end real quick like.

I read the whole article trying to find the catch and none was reported in the article.
It is only good for a year so I can imagine after it expires the DUmmies will be boycotting them, or if they find out that there is a minimum balance, no overdrafts for the entire month to qualify, or whatever reason they can't get their free $5.

antigop (1000+ posts) 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    Fri Oct-14-11 02:54 PM
Response to Original message
1. gotta love the "free market" n/t

The only free market you goons like is when you get something for free.

louis-t (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    Fri Oct-14-11 02:58 PM
Response to Original message
2. I LIKE it!
   
If you can find one, use a Community or State bank. Or a Credit Union.

I can't figure out the love DUmmies have for credit unions, they require a minimum balance in order to keep your account open. So if they want to buy cheetos with that last $5 to go with their weed, they can't have it.

FarCenter (1000+ posts) Click to send private message to this author Click to add this author to your buddy list Click to add this author to your Ignore list    Fri Oct-14-11 03:04 PM
Response to Original message
5. About Us
   
Trevor R. Burgess

Mr. Burgess serves as CEO and Vice Chairman of the Bank's holding company, CBM Florida Holding Company. He began investing with Marcelo Faria de Lima in 2008. Prior to then, Mr. Burgess was a Managing Director at Morgan Stanley where he was an investment banker in New York, Los Angeles and London. At Morgan Stanley, he executed over 100 transactions raising over $50 billion for his clients. Earlier in his career he was a consultant at Michael Porter's Monitor Company in Cambridge, Massachusetts. He earned his bachelors degree from Dartmouth College in 1994. Mr. Burgess has served as a director since the change of control transaction was completed on December 3, 2009.

Marcelo Faria de Lima

Mr. Lima is Chairman of the Bank's holding company, CBM Florida Holding Company. Mr. Lima is an international investor with interests in companies located in the United States, Brazil, Mexico, Turkey, Denmark and Russia employing over 6,000 people and generating sales of over $1 Billion. Mr. Lima started his career as a commercial banker working for ABN Amro Bank in Brazil and Chicago before working as an investment banker for Donaldson, Lubkin and Jenrette, Credit Suisse, and Garantia. He graduated from Ponteficia Universidade Catolica do Rio de Jeanerio in 1985. Mr. Lima has served as a director since the change of control transaction was completed on December 3, 2009.

https://www.communitybanknow.com/about.asp
1%ers?

 

SoCalDem 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    Fri Oct-14-11 04:12 PM
Response to Reply #7
8. My most recent IRA has a whopping 0.07 interest rate
   


and our "conservative" plan in my husband's 401 LOST $2k this past quarter.

Prior to switching to the conservative plan we lost $29K in the crash of 2009.. At this rate there will be very little left in 2 years when he retires..

He could withdraw, but then we would have to pay taxes on it..

Nothing more funny than a liberal bitching about paying taxes. 

[DumbAss Tanker]

anyone who opens a Value Checking account

Without tracking it down to verify, my gut tells me the "Value Checking account" a that bank involves keeping a minimum balance at a rather substantial level, something which would rule out all but the few DUmmies who are trust-funders or married to someone (Poor bastard) who is highly productive.
   

[Freeper]

Without tracking it down to verify, my gut tells me the "Value Checking account" a that bank involves keeping a minimum balance at a rather substantial level, something which would rule out all but the few DUmmies who are trust-funders or married to someone (Poor bastard) who is highly productive.
   

Community Bank will pay $5 a month, for up to one year, to new customers who open a Value Checking account with direct deposit. Value Checking is the bank’s basic consumer checking product, with unlimited check writing, no minimum monthly balance and no monthly service charge. Depositors must keep the account open for six months.

http://www.bizjournals.com/tampabay/blog/2011/10/debit-card-debate-sparks-community.html

There has to be some kind of catch, I doubt they are just going to hand out $5 a month for the hell of it.

[Erasmus]

Yeah, I'd like to take $5,000 and open 1,000 $5 accounts.  At the end of the year, I'd have $65,000.  If they didn't put any catches on it, they might regret it later!

[thundley4]

Community Bank will pay $5 a month, for up to one year, to new customers who open a Value Checking account with direct deposit. Value Checking is the bank’s basic consumer checking product, with unlimited check writing, no minimum monthly balance and no monthly service charge. Depositors must keep the account open for six months.

 

There is the catch that will eliminate most DUmmies.  To set up direct deposit requires a job, government check or similar. I doubt an EBT card would satisfy that prerequisite .

[Chris_]

$60.  Two overdraft fees will wipe out any gains a DUmmy might have received.

Too bad.

[Erasmus]

 

There is the catch that will eliminate most DUmmies.  To set up direct deposit requires a job, government check or similar. I doubt an EBT card would satisfy that prerequisite .

I wonder if my company would let me direct deposit to 1,000 different accounts, lol.

[thundley4]

I wonder if my company would let me direct deposit to 1,000 different accounts, lol.

Mine won't , I know.  We can have one direct deposit from our check, either the full amount or just a part of it.

[Celtic Rose]

Mine won't , I know.  We can have one direct deposit from our check, either the full amount or just a part of it.

I think my employer allowed two.  Presumably one was for savings and one was for checking.

[miskie]

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x2117507

I read the whole article trying to find the catch and none was reported in the article.
It is only good for a year so I can imagine after it expires the DUmmies will be boycotting them, or if they find out that there is a minimum balance, no overdrafts for the entire month to qualify, or whatever reason they can't get their free $5.

There has to be - else I would be starting about 10 thousand $10 accounts right now.

[BEG]

SoCalDem 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    Fri Oct-14-11 04:12 PM
Response to Reply #7
8. My most recent IRA has a whopping 0.07 interest rate
   


and our "conservative" plan in my husband's 401 LOST $2k this past quarter.

Prior to switching to the conservative plan we lost $29K in the crash of 2009.. At this rate there will be very little left in 2 years when he retires..

He could withdraw, but then we would have to pay taxes on it..

I just opened my husbands statement for his 401k, he lost $31,933.75 from July 1st - September 30th.  Now imagine what we have lost since Obama has been campaigning ooops I mean president?!? 

I'm going to occupy your ass you stupid little weasels. Your "Occupy Wall Street" is ruining people's businesses and livelihoods. None of you people care.  It's all about what you want, give you free collage, free healthcare, free housing, free food, write off all your debt and mortgages.  Take from the rich...eat the rich. You ****ing babies disgust me.

[tanstaafl]

Quote

SoCalDem 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    Fri Oct-14-11 04:12 PM
Response to Reply #7
8. My most recent IRA has a whopping 0.07 interest rate
   


and our "conservative" plan in my husband's 401 LOST $2k this past quarter.

Prior to switching to the conservative plan we lost $29K in the crash of 2009.. At this rate there will be very little left in 2 years when he retires..

He could withdraw, but then we would have to pay taxes on it..

Meh. 2K loss over a quarter? My rollover will change in the 5-10k range on a daily basis. Currently sitting on a 100k loss since the all time high in April, overall. Rollover, Roth IRA and 2 401k's.

But, y'know what? It's all good. It'll be back. I plan to work at least two more years. I've had bigger dollar and percentage losses. It's always come back. I never panic. Never chase fads. Just plug along on dividend paying stock. Except for my APPL and GOOG.

[BEG]

Quote

Meh. 2K loss over a quarter? My rollover will change in the 5-10k range on a daily basis. Currently sitting on a 100k loss since the all time high in April, overall. Rollover, Roth IRA and 2 401k's.

But, y'know what? It's all good. It'll be back. I plan to work at least two more years. I've had bigger dollar and percentage losses. It's always come back. I never panic. Never chase fads. Just plug along on dividend paying stock. Except for my APPL and GOOG.

They want to eat you.