Good Idea Fairy squeezes out an Occu-pie

[SSG Snuggle Bunny]

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 card”.


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]

I watched the video. Two points:

1) if the bank bailouts were bad because of the systemic risk non-parties had to absorb what makes this card any better.

2) WTF is an "independent diplomat?"


Much oo-ing and ah-ing ensues and I'm pretty sure JudiLynn rubbed one out; but then there's this:

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

They always bitch about people not having a clue.

And yet they never provide said clues.

It's as if anyone not born with an intrinsic, psychic understanding of ever nuisance is to be shunned.

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.

 

Yeah. I'm looking forward to the SEC getting ahold of these guys.

And then the inevitable fraud of so many professional moochers all sucking at the same teat.

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.

I wish I could say the same for my health care, retirement, children's education and general economic well-being.


http://www.democraticunderground.com/10023310561


BTW -- isn't this an anti-government,  free market-based solution?

[Bad Dog]

This is going to make Air America seem like a stable enterprise.

[Rebel]

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?

[franksolich]

Even in the small print, I'm not seeing anywhere where this gives one free money.

Wouldn't this flop, then?

[DefiantSix]

Like a Credit Union?

Only not quite so stable.  Occu'Tards/DUmp Monkeys could **** up a rock fight. Something as complex as a "credit" account for the bathing-adverse masses?

[youtube=425,350]http://www.youtube.com/watch?v=X8PyTo6NyXA[/youtube]

[Karin]

Greenstormcloud is exactly right, and the DUmmies are all just starry-eyed because of the name alone.  Talk about being gullible in the face of corporate marketing!  Like GSC, I get all that stuff for free.  No 99 cent fee every month.  Smells like a real scam.  I hope it takes in what remaining occutards are left, and soaks them good.

[GOBUCKS]

Sun Jul 21, 2013, 08:52 PM
OneGrassRoot (19,315 posts)

Check this out! The Occupy Money Cooperative

Another great idea from the DUmmy who runs the Wishadoo! scam.

But I have a question:

It's a low cost, full featured pre-paid debit card.

The debit cards I've had are all zero cost. What's this low cost business?

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.

[DefiantSix]

...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.

This DUmb cluster**** in the making will be funded by healing white light, Xerox copies of hands and up-twinkles. Blackie the ghost chicken will provide all the positive credit references. 

[Aristotelian]

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.

Exactly.

And thus is the entire project guaranteed to flop - those who need it (DUmmy spongers) don't have the money to put in the pre-payment; and those who can use it won't because they've got the good sense to use a bank.

[Celtic Rose]

I do have to applaud whoever developed this money making scheme.  Not only do they get the 99 cents a month (for a debit card, seriously.  I don't pay a monthly fee for my credit cards) but the also get the credit processing fee from retailers, though of course most of that goes back into the coop ( )

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.

[Chris_]

What ATM network can I use it on?  Is the coop (sic) going to pay network fees to all the big ATM players?

[SSG Snuggle Bunny]

Why do you people insist on killing all the baby unicorns!!!!

[ScubaGuy]

A sucker is born every minute.

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.

Bummer dude.....

[obumazombie]

Every purchase generates frequent carbon credit miles.

[Big Dog]

A sucker is born every minute.

And they grow up to be DUmpmonkeys.

 

[Mr Mannn]

How can you run a pretend bank when all your customers are hippies?

I seriously doubt all the trust-fund kids in the movement will dare to step away from Daddy Bigbucks and his bank. They know what side their bread is buttered on. So it will be the hippies who likely will have no choice but to use a prepaid card because their credit is trashed.

So what establishments outside of a head shop will put the "We Proudly Accept the Occupy Card" on their door? If you do that, then you invite a scurvy looking lot that will drive away your regular customers, rob you blind. and never leave.

Oh yeah. this just has success written all over it [/sarc off}

[DumbAss Tanker]

What could possibly go wrong with that?

 

[GOBUCKS]

It's a Wishadoo! card.

What could go wrong with that?

It's backed by the full faith and credit of the Occupoopers.

[Texacon]

They'll all join and take the overdraft protection option. Deposit $10.00 and withdraw $1,000.00 then get pissed when the OM credit union demands the $1,000.00 plus the overdraft fee.

"They're just like big corporate banks now man. I remember when you were cool!"

KC

[FlaGator]

I would think that they would be happy to deposit their cash into an institution that makes sure everyone has the same balance. Deposit $1,000,000.00 and your balance is $10,000.00. Deposit $20.00 and your balance is $10,000.00. Isn't that the dream of libs everywhere? Banking where wealth distribution is the foundation of all it does for it's members.

[Ralph Wiggum]

I think the tag line for this card should be "destined to fail miserably".

[obumazombie]

I think the tag line for this card should be "destined to fail miserably".

Perfected by owebuma.

[miskie]

So, the Occutards are going to allow 'the 99%' to pay them 99 cents a month for the privilege of spending their own money. Real big of them.

[Carl]

One kind of gets the idea it is not Christmas morning with a free money card.

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.

[Chris_]

If it's like most pre-paid debit cards, there's a transaction fee every time you use it regardless of what you do.  Those 99-cent charges can add up over a month.

The misery is going to be epic.