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Post by worlder on Oct 1, 2011 19:25:45 GMT -5
When every transaction will cost you an extra $5? Uh yeah...that's a major dick move. Ironbite-and this will only impact the poor....like always. No, not every transaction, an extra $5 per month. Exactly. Though I wish it was every two months, they insist on charging a fee. |
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Post by ironbite on Oct 1, 2011 19:45:39 GMT -5
Oh well it's still a dick move.
Ironbite-just not major or minor.
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Post by itachirumon on Oct 1, 2011 20:13:32 GMT -5
damnmit BoA, I've had my card with you assholes since 2007, don't make me close my student account now -eyes them- or does it not affect student account debit cards? Cause it had better not.
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Post by worlder on Oct 1, 2011 20:44:07 GMT -5
Well I'm not bothering with all the paperwork of closing an account and reopening it when the policies are friendlier.
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Post by VirtualStranger on Oct 1, 2011 20:50:09 GMT -5
Just a question to anyone who's familiar with economics. If massive portions of the population were to start pulling their money out of the banks and switching to credit unions, how would that affect the banks, and the economy in general?
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Post by ironbite on Oct 1, 2011 20:54:59 GMT -5
Banks go down, they start bitching at the government to "help" them, and economy goes to shit.
Ironbite-yeah...Banks are gonna win this one unless someone throws a gauntlet.
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Post by Dragon Zachski on Oct 1, 2011 21:17:15 GMT -5
Just a question to anyone who's familiar with economics. If massive portions of the population were to start pulling their money out of the banks and switching to credit unions, how would that affect the banks, and the economy in general? We would have another Great Depression. Seriously. That being said, I don't understand why anyone would use a bank if they had a credit union around  Sure, you get less interest on your stored money, but you're charged a lot less to use their services. Heck, my own debit card was a flat payment for getting it. No monthly payments or anything. |
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Post by itachirumon on Oct 1, 2011 22:06:03 GMT -5
I haven't HAD any debit payments yet that I can remember, I had some on the savings account if I didn't keep the balance above $25, they finally closed it on me for some reason, but Student Advantage was... fairly bitching. I mean yeah, they fucked me good if I didn't have enough in there to cover something by hitting me with multi-consecutive overage charges but they stopped doing that about a year ago.
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Post by ltfred on Oct 2, 2011 1:27:23 GMT -5
Just a question to anyone who's familiar with economics. If massive portions of the population were to start pulling their money out of the banks and switching to credit unions, how would that affect the banks, and the economy in general? Nobody knows because it's never happened. It would definately be interesting, because banks are backed by the government (are credit unions?). It wouldn't have the same effect as when people move money under their beds (lack of investment, lower inflation, slower growth). It would probably have a similar effect to what happens when an old, powerful industry is replaced by a new, efficient one (temporary politically corrupt double-dealing, gradual decline, brief minor chaos). |
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Post by Tenfold_Maquette on Oct 2, 2011 9:09:51 GMT -5
The local paper went on about BoA polled it's customers about the proposed new $5 fee, and when the customers universally rejected the idea...BoA shrugged and slapped the charge onto the service anyway. They know it's an unnecessary and greedy thing to do, then outright ASKED their customers about their opinion on the matter, and then when the two didn't match up they just went ahead and did it anyway. Talk about disconnect. May BoA get what they deserve. Let's just hope they don't drag everyone else down with them.  |
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D Laurier
Full Member
Paying for cable (or satalite) TV, is like hiring sombody to projectile poop all over your brain
Posts: 196
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Post by D Laurier on Oct 2, 2011 9:44:34 GMT -5
Does anyone else here remember when banks actualy invested your money sensibly, and paid you interest on your account ballance?
Does anyone else remember when a child could open a new account with a 10 dollar deposit, and come back a year later to find his original 10 dollars had earned 10 cents in interest?
Does anyone else remember when bank accounts were actualy considered an investment in the bank, as opposed to an inconvenience?
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Post by the sandman on Oct 2, 2011 10:45:36 GMT -5
We all saw this coming. As regulations begin to tone down the multi-multi-billion dollar profits of the big banks, they WILL find a way to recoup those "losses" from the consumers.
It's the Wall Street corporate mindset: if you made a billion dollars last year, and you made 500 million dollars this year, by THEIR reasoning, you didn't make half a billion, you lost half a billion. They see it as their inalienable right to make as much or more money than they did last year, and by God, they will, even if they have to fuck every customer they have to do it.
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Post by the sandman on Oct 2, 2011 10:47:36 GMT -5
It would definately be interesting, because banks are backed by the government (are credit unions?). Most (but not all) Credit Unions are FDIC insured, just like banks. The reason banks have an advantage is that CUs tend to be local, and a lot of people prefer an institution with a wide presence. |
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Post by Shane for Wax on Oct 2, 2011 14:31:30 GMT -5
Wells Fargo is doing the same thing for each month you use your debit card. It's jackshit.
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Post by N. De Plume on Oct 2, 2011 15:09:16 GMT -5
Most (but not all) Credit Unions are FDIC insured, just like banks. Isn’t it the NCUA that insures Credit Unions? In any case, they both insure up to $250,000, so I don’t know if there is much functional difference. |
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Sure, you get less interest on your stored money, but you're charged a lot less to use their services.
