tag:blogger.com,1999:blog-8575396221761490577.post6786542491102639196..comments2023-10-14T11:47:37.778-04:00Comments on Bank Watch: Avoiding BofA debit card fee set to get harderUnknownnoreply@blogger.comBlogger27125tag:blogger.com,1999:blog-8575396221761490577.post-70176014569542331692011-10-20T07:40:41.084-04:002011-10-20T07:40:41.084-04:00The Durbin amendment was supposed to save the cons...The Durbin amendment was supposed to save the consumer money by reducing the fees banks charged merchants for each debit transaction. The merchants (including folks like Wal-Mart)promised that the reduced transaction costs would be passed on to the consumer - not happening, merchants are pocketing the savings. Don't blame the banks for adding a fee - they still have to cover the costs of fraud prevention, the infrastructure to handle that debit transaction. Read for yourself: http://www.forbes.com/sites/halahtouryalai/2011/10/05/the-durbin-tax-is-paying-off-for-retailers/pport that debit transaction.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-4028072835744572622011-10-20T06:44:39.878-04:002011-10-20T06:44:39.878-04:00Here we go - bash the bank for charging a fee for ...Here we go - bash the bank for charging a fee for a service it provides. Don't want to pay the fee - don't bank there. <br />This 'fee' is a direct result of the merchants lobbying for lower fees charged the banks charged the merchant for each debit transaction. The merchants (folks like Wal-mart) said 'oh lower our cost and we will pass the savings to the consumer" - has that happened? So now the banks are charging the consumers for the debit card and the merchants didn't pass the savings on to the consumer. Are we surprised? No - but blaming the banks isn't the solution.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-91177329122320878792011-10-20T06:09:03.333-04:002011-10-20T06:09:03.333-04:00Truth of the matter people. Boa/soon to be Doa is ...Truth of the matter people. Boa/soon to be Doa is using the pension heist principal look it up. Scale back, restructure existing pensions of the lil people at large corporations so that the top execs pension are not in harms way. I dare any of you clowns defending boa to read this and keep your same trite attitude.......Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-96031769585420962011-10-20T06:05:47.227-04:002011-10-20T06:05:47.227-04:00I've been with NCSECU for decades and I've...I've been with NCSECU for decades and I've always had to pay $1 a month for the checking account. I've also always had to pay for the ATM card when it is reissued every 2 years AND it's not even a debit card. Waaaaaaaaah! Come on people, it's a fee for a service. I pay Verizon $10 a month for unlimited texting. Quit whining....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-47054566188576460292011-10-20T05:51:51.722-04:002011-10-20T05:51:51.722-04:00Looks like Bank of America want's to become th...Looks like Bank of America want's to become the Bank of The Republican Party with all profits going to celebrating the death of children killed under bridge collapses and death of senior citizens and disabled vetsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-71204265714776411892011-10-20T00:35:31.186-04:002011-10-20T00:35:31.186-04:00Hey 11:52....so now anyone with $20,000 in the ban...Hey 11:52....so now anyone with $20,000 in the bank is rich?? Wow. Every business rewards those customers who do more business with them. It's a pretty basic concept. USAirways charges bag fees, but if you fly a lot with them they are waived....is that wrong too? Or a smart business move to encourage loyalty?<br /><br />Keep believing that the rich don't pay taxes. Maybe we don't pay enough in your eyes....but I guarantee my share is a whole lot more than yours. So stop your griping. When is it enough? You want 40 percent, 50? Heck why not take 90 percent of my income to pay taxes....when is it enough to stop the whining from people like you??Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-31874657620368215582011-10-19T23:52:34.933-04:002011-10-19T23:52:34.933-04:00Great! So the people that have over 20grand in the...Great! So the people that have over 20grand in the bank dont have to pay...I say lets just kill all the middle class and expedite this 3rd world ambition.The Rich dont pay taxes or bank fees-Stellar!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-84383163876295450342011-10-19T23:27:57.513-04:002011-10-19T23:27:57.513-04:00I love my NCSECU.I love my NCSECU.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-14127691971728794662011-10-19T23:01:33.238-04:002011-10-19T23:01:33.238-04:00Buh-Bye, B of A.
It's not that I can't af...Buh-Bye, B of A.<br /><br />It's not that I can't afford the fee, or even that I don't understand why it's happening.<br /><br />But frankly, it's a philosophical thing... I didn't gamble my welfare on shoddy mortgages, I don't pay people exorbitant amounts of money. My tax money bailed you out a couple of years ago. I SHOULDN'T HAVE TO PAY THIS FEE.<br /><br />Moynihan was half right, B of A doesn't have a right to make a profit, it has a right to TRY to make a profit. Pissing off loyal customers is probably NOT the way to do that.<br /><br />You have a right to charge the fee. I have a right to take my business elsewhere. That's all there is to it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-74632767095721909362011-10-19T22:08:31.604-04:002011-10-19T22:08:31.604-04:00How hard is it to switch to a bank that doesn'...How hard is it to switch to a bank that doesn't charge a debit card fee? Not to hard!!! Just a little more work finding a bank that doesn't charge one than sitting on your @SS and complaining about the fees. That's what a free market is all about.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-89914854932574050052011-10-19T21:49:47.391-04:002011-10-19T21:49:47.391-04:00OK, riddle me this, Batman. What if a person appl...OK, riddle me this, Batman. What if a person applies for - and receives - mortgage with B of A, thereby avoiding the debit card fee ... then, as most large banks such as B of A routinely do ... they sell the mortgage off.<br /><br />Would the debit card fee kick back in? If so, that's a bit of "dirty pool" on the part of Moynihan's gang.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-67137102335587332152011-10-19T20:35:19.614-04:002011-10-19T20:35:19.614-04:00Amen to Wiley Coyote. Well said...
"You can...Amen to Wiley Coyote. Well said...<br /><br />"You can avoid the fee by ditching the Bank of Central America". <br /><br />Rome is falling. Under "new management", whose job is written on the line EVERY week, has now slipped to #2 in holdings. Wow, you've managed to bring the bank down a notch. Great work. Your next adventure of $5 for a debit card will bring it down further.<br /><br />Does BOA really want people to start writing checks again? Do they want to process the checks, image the checks, deal with NSF and GO BACKWARDS in TIME? If so, keep on marching forward.<br /><br />Please let me know if you need help on the next business model after this one fails.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-59582045887932947942011-10-19T20:31:01.316-04:002011-10-19T20:31:01.316-04:00For the 'what it's worth department', ...For the 'what it's worth department', I've been with BOA since it was Bank of North Carolina NA, and I can remember when you had to keep 2500.00 in your accounts to qualify for the 'fre' benefits that they offered back then. That was a lot of money then, and to me it still is. I don't know how regular folks that live from paycheck to paycheck, earning less than 2000.00 a month, gross, can afford to keep 20,000.00 in their accounts. This figure is banted about so freely, as if every account holder with BOA has this kind of money, I certainly don't, and the 5.00 fee is a lot of money to someone that has only 200.00 or less in their account.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-82371521223133347112011-10-19T20:24:30.096-04:002011-10-19T20:24:30.096-04:00Anonymous at 8:07pm yes it is just your logic....y...Anonymous at 8:07pm yes it is just your logic....you and every other poor person who thinks that people who are "able to afford" should foot the bill for everything....fees, taxes, etc...so people like you can get a free ride. Unbelievable.<br /><br />Why don't you open a bank that caters to people that have very little money. And charge them no fees. See how that works out then maybe you will have clue.<br /><br />Call me "able to afford" to pay my own way....and sick of paying yours while being b*tched at for not doing my fair share....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-8496612275616316732011-10-19T20:07:30.213-04:002011-10-19T20:07:30.213-04:00Perhaps it's just my logic but
1. a person hol...Perhaps it's just my logic but<br />1. a person holding a $20k account should be able to afford a $5 fee, versus an average person with only $1-2k paycheck average in their account<br />2. BofA is giving the $20k account holders a break b/c they probably make more off holding $20k invested in the market somewhere than the lowly $1k account.<br /><br />Either way, BofA, as well as some other banks, continue to rip off the little man struggling week to week. <br /><br />This is why I hate they bought my mortgage...not much I can do but refinance, but when they bought my MBNA card, I moved my balance to another card. I only keep it open b/c of my long credit history w/that card. I try to give BofA as little of my $ as possible.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-38962347306079760912011-10-19T20:07:02.800-04:002011-10-19T20:07:02.800-04:00I'm "7:30" and do not work for the b...I'm "7:30" and do not work for the bank. However, I do have common business sense. I don't agree with several things that have occured over the past few years, but people need to take accountability for their own shortcomings. Just because BoA is the biggest and the most "influencial" doesn't mean that the general public should point their gigantic entitled fingers at them. The general financial market, wallstreet, consumer ignorance, and greedy corporate heads are to blame. Also, the greed of the every day man what caused the bubble burst on the housing market is to blame. Just because you buy a house and let it sit for 2 years with no visible improvements doesn't mean you can charge $20k more when it's time to sell the following year. At what point was a $100k house being sold 5 years later for $325k going to start warranting questions? And yes, they did post a profit this quarter, mainly through asset sells offs as they downsize on both payroll and real estate.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-41378289530828705182011-10-19T20:03:13.604-04:002011-10-19T20:03:13.604-04:00You can avoid the fee by ditching the Bank of Cent...You can avoid the fee by ditching the Bank of Central America...<br /><br />Who knows, Netflix listened....Wiley Coyotehttps://www.blogger.com/profile/16966764080565903720noreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-18747719192995332622011-10-19T20:01:55.522-04:002011-10-19T20:01:55.522-04:00While I’m not a fan of BofA, the upfront $5 fee, i...While I’m not a fan of BofA, the upfront $5 fee, is exactly that, a fee which you are fully aware of and therefore have the ability to avoid the fee. The penalty fees previously charged were much more regressive as they were typically garnered from the less fortunate. If you have the means to not overspend and use a credit card for all your debit card purchases and pay your credit card off at the end of each month you can use the bank to your advantage. Enroll in a rewards based program, never carry a balance, and make the bank pay you!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-8518775179586449762011-10-19T19:53:40.884-04:002011-10-19T19:53:40.884-04:00My guess is that posts 7:30 and 7:46 work for BOAMy guess is that posts 7:30 and 7:46 work for BOAAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-49720525793275998552011-10-19T19:46:49.579-04:002011-10-19T19:46:49.579-04:00Good post anonymous at 7:30, it is a business. An...Good post anonymous at 7:30, it is a business. And BOA is NOT the first bank to charge those fees. Many of you need to get a clue.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-16590736319702338302011-10-19T19:30:42.608-04:002011-10-19T19:30:42.608-04:00And why shouldn't they have the right to charg...And why shouldn't they have the right to charge a little for the SERVICE they are providing. If you don't want them to manager/hold your money, then put it in your mattress and shut your mouth. Nothing is free in this world and any business, including banks, have the right to charge for their services. BoA is on the right track to counter all the bad press from the past 2 years. New management is in place, they are altering their business plan, and are working more on their customer service and relations than on their competitor buy outs. Take a moment, breath, and realize that they are a BUSINESS just like the mom and pop store down the road that hikes their prices due to increase production cost and lack of sales...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-82517343263440380552011-10-19T19:30:23.258-04:002011-10-19T19:30:23.258-04:00And yet... they posted a RECORD profit... hmmmmmmAnd yet... they posted a RECORD profit... hmmmmmmAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-34208397897493711212011-10-19T18:45:29.608-04:002011-10-19T18:45:29.608-04:00It is getting like airline fees...pretty soon, you...It is getting like airline fees...pretty soon, you will be charged just for having money in their bank. They'll be charging you rent for your money taking up space in their vault.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-76596626188997665862011-10-19T18:43:18.125-04:002011-10-19T18:43:18.125-04:00"Avoiding BofA debit card fee set to get hard...<i><b>"Avoiding BofA debit card fee set to get harder"</b></i><br /><br />No, it isn't.<br /><br />Just stop doing business with them.<br /><br />Problem solved.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8575396221761490577.post-14175291359782135472011-10-19T18:41:32.540-04:002011-10-19T18:41:32.540-04:00those of you who choose to bank at GNB deserve any...those of you who choose to bank at GNB deserve any fees that they impose.Anonymousnoreply@blogger.com