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Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks

 
Astrochik
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User ID: 1331439
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10/05/2011 10:24 AM
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Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks
[link to theeconomiccollapseblog.com]

Millions of Americans are about to get stabbed in the back by their banks. Bank of America, JPMorgan Chase, Wells Fargo, Citibank and several other large banks are either already implementing outrageous new bank fees or are currently testing them. So are these ridiculous new bank fees going to be enough to get millions of Americans to finally boycott the big banks? When millions of Americans start paying a $5 fee every month to use their debit cards and when millions of Americans start paying a $20 fee every single month just to have a checking account hopefully that will be enough to wake them up. These fees are certainly not going to cause an "economic collapse", but they are incredibly annoying. The truth is that the big banks are trying to take advantage of us. It shouldn't cost $60 a year just to use a debit card. It shouldn't cost $240 a year just to have a checking account. What we need to do is to send an unequivocal message to the big banks: we don't want your stinking bank fees and we are switching banks.

When I was growing up, I remember how banks would bend over backwards to get your business. The customer service was generally very good and banks were not gouging us with ridiculous fees.

But now thousands of smaller banks have been gobbled up by the banking giants and things have dramatically changed. The big banks don't value us anymore. They seem to believe that they have a "captive audience" and that they can treat us however they want to.

Well, it is time for us to draw a line in the sand.

We didn't mind so much that they were paying us next to nothing on our savings accounts.

We didn't say too much when ATM fees soared into the stratosphere. For example, the average cost of using an "out of network" ATM in America today is approximately $3.81.

We didn't even object too much when they started charging us fees for things such as getting paper statements, receiving wire transfers, or closing our accounts.

But now they have really crossed the line.

On October 1st, new federal regulations went into effect that capped what banks can charge merchants for debit card transactions.

The average fee on a debit card transaction used to be about 44 cents.

The new federal regulations cap the fee on merchants at 21 cents.

So will banks be unable to make money under these new regulations?

Well, according to U.S. Senator Dick Durbin, each debit card transaction costs the banks somewhere between 4 and 12 cents.

So a cap of 21 cents is not going to kill the banks.

However, it is going to hurt the profits that they have been making. The new rules are expected to reduce total bank revenue by a whopping $6.6 billion a year.

Ouch.

So what are the big banks doing about it?

Well, they have decided to recoup that revenue by sticking it to us.

For example, Bank of America recently announced that it is about to start charging a $5 per month debit card fee.

This has sparked a firestorm of criticism.

Even members of Congress are getting involved.

According to ABC News, U.S. Senator Dick Durbin stood on the floor of the U.S. Senate this week holding up a plastic debit card and launched into a tirade about Bank of America....

ďBank of America customers, vote with your feet, get the heck out of that bank,Ē Durbin said on the Senate floor. ďFind yourself a bank or credit union that wonít gouge you for $5 a month and still will give you a debit card that you can use every single day. What Bank of America has done is an outrage.Ē

But that is not the only outrageous fee that you will be hit with at Bank of America.

If you want to get a basic checking account at Bank of America you will be slapped with a $12 monthly fee unless you maintain an average balance of at least $1,500.
26 Qualities That Make Man God-Like:

1: Fearlessness 2: purity of heart 3: Steadfastness 4: Almsgiving 5: Self-restraint 6: Religious rites 7: Right study of the scriptures 8: Self discipline 9: Straightforwardness 10: Noninjury 11: Truth 12: Absense of wrath 13: Renunciation 14: Peace 15: Absence of fault-finding and calumny 16: Compassion toward all beings 17: Noncovetousness, absence of greed 18: Gentleness 19: Modesty 20: Absence of restlessness 21: Radiance of character 22: Forgiveness 23: Patience or fortitude 24: Cleanness of body and purity of mind 25: Nonhatred 26: Lack of conceit
BRIEF

User ID: 381742
United States
10/05/2011 10:27 AM

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Re: Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks
I have never paid a bank one red cent, well sometimes if I have to send a money order like for my gun permit...but I refuse to pay fees, and I get interest or I withdraw everything and find another one...
I never forgive and I never forget

I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked.

Briefcut4892
hovan

User ID: 1285914
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10/05/2011 10:28 AM
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Re: Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks
Its easy...if you dont like the banks stop using them. I did. I cash my check at amscot, use money orders or put my money on debit/cash card in case i want to buy something on line. No bank fees, minimums, etc...

btw. thanks for the time line!

Last Edited by hovan on 10/05/2011 10:31 AM
Anonymous Coward
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10/05/2011 10:36 AM
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Re: Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks
They start it off with 5 dollars, and already citi wants 15 :D
Mt.Mama
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10/05/2011 06:10 PM
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Re: Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks
I closed my account over a $10 fee that the bank lied to me over. Simple, I pay in cash.
Astrochik  (OP)

User ID: 1331439
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10/05/2011 06:10 PM
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Re: Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks
I closed my account over a $10 fee that the bank lied to me over. Simple, I pay in cash.
 Quoting: Mt.Mama 1517600


I closed mine with a "Bang"!!
26 Qualities That Make Man God-Like:

1: Fearlessness 2: purity of heart 3: Steadfastness 4: Almsgiving 5: Self-restraint 6: Religious rites 7: Right study of the scriptures 8: Self discipline 9: Straightforwardness 10: Noninjury 11: Truth 12: Absense of wrath 13: Renunciation 14: Peace 15: Absence of fault-finding and calumny 16: Compassion toward all beings 17: Noncovetousness, absence of greed 18: Gentleness 19: Modesty 20: Absence of restlessness 21: Radiance of character 22: Forgiveness 23: Patience or fortitude 24: Cleanness of body and purity of mind 25: Nonhatred 26: Lack of conceit
BRIEF

User ID: 2589063
United States
10/05/2011 08:43 PM

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Re: Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks
I closed my account over a $10 fee that the bank lied to me over. Simple, I pay in cash.
 Quoting: Mt.Mama 1517600


I closed mine with a "Bang"!!
 Quoting: Astrochik


I walked 100K+ officer's check across the street to a competing bank, because they wouldn't cash a check for me...I had accounts in both banks, but I'm not giving a thumb print, or anything else, just to cash a government issued check...
I never forgive and I never forget

I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked.

Briefcut4892
Astrochik  (OP)

User ID: 1331439
United States
10/05/2011 08:52 PM
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Re: Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks
I closed my account over a $10 fee that the bank lied to me over. Simple, I pay in cash.
 Quoting: Mt.Mama 1517600


I closed mine with a "Bang"!!
 Quoting: Astrochik


I walked 100K+ officer's check across the street to a competing bank, because they wouldn't cash a check for me...I had accounts in both banks, but I'm not giving a thumb print, or anything else, just to cash a government issued check...
 Quoting: BRIEF


not that big of a bang!!!
26 Qualities That Make Man God-Like:

1: Fearlessness 2: purity of heart 3: Steadfastness 4: Almsgiving 5: Self-restraint 6: Religious rites 7: Right study of the scriptures 8: Self discipline 9: Straightforwardness 10: Noninjury 11: Truth 12: Absense of wrath 13: Renunciation 14: Peace 15: Absence of fault-finding and calumny 16: Compassion toward all beings 17: Noncovetousness, absence of greed 18: Gentleness 19: Modesty 20: Absence of restlessness 21: Radiance of character 22: Forgiveness 23: Patience or fortitude 24: Cleanness of body and purity of mind 25: Nonhatred 26: Lack of conceit
Anonymous Coward
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United States
10/05/2011 08:53 PM
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Re: Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks
I recommend Everbank. It's an online bank I've been with for 4 years. You will be very pleased.
BRIEF

User ID: 2589063
United States
10/05/2011 08:58 PM

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Re: Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks
I closed my account over a $10 fee that the bank lied to me over. Simple, I pay in cash.
 Quoting: Mt.Mama 1517600


I closed mine with a "Bang"!!
 Quoting: Astrochik


I walked 100K+ officer's check across the street to a competing bank, because they wouldn't cash a check for me...I had accounts in both banks, but I'm not giving a thumb print, or anything else, just to cash a government issued check...
 Quoting: BRIEF


not that big of a bang!!!
 Quoting: Astrochik


Well, it pissed me off...never a good idea ;)
I never forgive and I never forget

I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked.

Briefcut4892
Astrochik  (OP)

User ID: 1331439
United States
10/05/2011 09:00 PM
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Re: Bank Fees? Letís Tell The Banksters That We Donít Want Their Stinking Bank Fees And That We Are Switching Banks
I recommend Everbank. It's an online bank I've been with for 4 years. You will be very pleased.
 Quoting: Anonymous Coward 2729920


What do you like about it? Link?
26 Qualities That Make Man God-Like:

1: Fearlessness 2: purity of heart 3: Steadfastness 4: Almsgiving 5: Self-restraint 6: Religious rites 7: Right study of the scriptures 8: Self discipline 9: Straightforwardness 10: Noninjury 11: Truth 12: Absense of wrath 13: Renunciation 14: Peace 15: Absence of fault-finding and calumny 16: Compassion toward all beings 17: Noncovetousness, absence of greed 18: Gentleness 19: Modesty 20: Absence of restlessness 21: Radiance of character 22: Forgiveness 23: Patience or fortitude 24: Cleanness of body and purity of mind 25: Nonhatred 26: Lack of conceit





GLP