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Another Bank Fee - 2/20/2009 6:23:29 AM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		as if we arent in enough trouble financially!  someone please explain where all this money is going too?

http://www.comcast.net/articles/finance/20090219/Bank.Fees.Jobless.Benefits/

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RE: Another Bank Fee - 2/20/2009 6:27:53 AM   
Crush


Posts: 1031
Status: offline 		No kidding.   Our university quit giving paychecks to new hires.  If they had a bank account then they went direct deposit.  If not, then they were given an Visa Checkcard...complete with the fees.   

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RE: Another Bank Fee - 2/20/2009 6:37:38 AM   
Lucylastic


Posts: 40310
Status: offline 		Surely its called the trickle up process?
Anyone who has been on unemployment knows just how far benefits DONT go
But hey the banks need every penny huh... what percentage of someones benefits is going on fees???
Lucy


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RE: Another Bank Fee - 2/20/2009 6:54:32 AM   
housesub4you


Posts: 1879
Joined: 4/2/2008
Status: offline 		Hellooo!!!!!  It's going to the banks new "Awards" program.  "This is not a bonus, don't call it a bonus, because it is not a bonus.  It is an "Award" for doing your job".
 
As qouted by the President of Citibank last week

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RE: Another Bank Fee - 2/20/2009 10:56:15 AM   
blacksword404


Posts: 2068
Joined: 1/4/2008
Status: offline
quote:

ORIGINAL: Crush

No kidding.   Our university quit giving paychecks to new hires.  If they had a bank account then they went direct deposit.  If not, then they were given an Visa Checkcard...complete with the fees.   


Lambs to the slaughter. The states save your tax money by not having to mail a unemployment or disability check to you. And the wolves get to feast on $20 overdraft fees and other transaction fees. Paper statement fees. Fees to talk to a live customer service person from a foreign country. An extra extra fee for an American live customer service person. And there we thought banks couldn't levy taxes.

There will likely come a time in the future when there will be no more paper money and this electronic process will be the process. I guess we'll have to check our accounts every 5 mins to make sure the banks or anybody else doesn't steal our money. Ah the days when a person had to physically touch you to steal your money. 

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RE: Another Bank Fee - 2/20/2009 5:20:43 PM   
stella41b


Posts: 4258
Joined: 10/16/2007
From: SW London (UK)
Status: offline 		This is a big issue here in the UK. A High Court judge ruled some time back that people on means-tested benefits do not have to pay bank charges because they are living on the minimum amount of money the Government considers that anyone can live on.

I got caught up in this last year when I had my Incapacity Benefit stopped unfairly leading to 2-3 months without any income where all my utility bills were paid by direct debit via my bank. During this time I had no income whatsoever and it took almost three months and the intervention of two local MPs to put things right.

This is why I spent much of last year unable to do anything and in a position where I could have ended up street homeless within weeks. I had negotiated extra time with all the utility companies, electricity, gas (who installed a pre-payment meter), water and phone.But when everything was sorted out and I started to receive payments and with arrears, the bank took everything in bank charges for the returned direct debits for the three month period and it reached the stage where I was about to have my electricity and gas cut off and be taken to court over water when I managed to get my local MP to intervene again to get the bank to refund the bank charges it took so that I could pay my bills and the arrears.

The bank refunded only half the bank charges and sent me a snotty letter saying that it might 'consider' refunding the other half if I managed my account better.

A month later however the bank started to take back the bank charges it has refunded and even started to implement bank charges when the direct debit wasn't taken on the day it should have been. In challenging the bank over this the bank blamed the utility companies for not managing their direct debits effectively and causing me to incur bank charges. Therefore again I was left without any income..

However I was lucky not only because the utility companies were again patient and understanding but also because near where I live there is a company which makes sandwiches which it sells in offices, and I was able to take some of the sandwiches left over out of the dustbin late in the evening to feed myself. But sometimes there weren't any sandwiches so I had to go elsewhere looking behind other shops which sold food for whatever they threw out in their dustbins.

I took the bank on over this citing the law, but the bank keep citing 'terms and conditions' like parrots and clearly have no intention of following or respecting the law.

The same bank held me in check right through to Christmas and kept me on welfare benefits because had I have gone self-employed I would have become immediately insolvent through not having any income. This is what has set back the development and plans for my theatre and charity by at least nine months and in the end I had to change the bank.

They might think they've won but let me tell you folks it isn't over. It wasn't even a proper bank, but a building society pretending to be a bank, and in its advertising it even claims to be better than a bank. But you know if I had a choice of letting them or the Russian mafia handle my finances I'd take the gangsters from Moscow any day because they would be more trustworthy.

I'm waiting till I get myself straight, but I've kept all the papers and the statements and I intend to get all that money they stole from me under the guise of bank charges back. Let's see them bang on about 'terms and conditions' in a county court and let's see what a judge thinks about their 'terms and conditions' in a country which like the United States operates on case law and where High Court judges make a ruling for a reason.

If that fails I'll write a play about them.. complete with song parodies.

I'm sorry but I can feel emotions stirring here.. memories are fresh about only being able to find food you need to cook and having nothing in the gas meter, or having to dig down deep into a dustbin and feel your way through black rubbish sacks looking for food, or washing cigarette butts and ash out of rotting chicken which you've got to cover in curry powder because you ain't eaten anything for three days. It's not that I'm able to buy food which gets me the most, but that I have to learn not to be afraid to buy food.

I still dream about a revolution where all the banks, financial advisors, and the rest of the parasites, chancers, freeloaders and jivers who do nothing more than sponge off our economy are rounded up to do some good honest work in the fields. Not only will the country get a decent day's work out of these people, but it also might bring it home to them the misery, stress and hardship they've caused not only to those not working, but millions of honest, decent, hardworking people

Sponsored by Nabwest Bank. Looking for a student loan? Yes? Fuck off!

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(in reply to tazzygirl)
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RE: Another Bank Fee - 2/20/2009 5:56:29 PM   
Vendaval


Posts: 10297
Joined: 1/15/2005
Status: offline 		I refer to the "trickle down theory" of economics as the "piss in the wind theory".  Some of it ends up on the ground, the rest on your shoes.

quote:

ORIGINAL: Lucylastic
Surely its called the trickle up process?


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RE: Another Bank Fee - 2/20/2009 5:58:41 PM   
Vendaval


Posts: 10297
Joined: 1/15/2005
Status: offline 		stella,
 
What a dreadful mess for you.  I am glad it is straightened out now.


quote:

ORIGINAL: stella41b
This is a big issue here in the UK. A High Court judge ruled some time back that people on means-tested benefits do not have to pay bank charges because they are living on the minimum amount of money the Government considers that anyone can live on.

I got caught up in this last year when I had my Incapacity Benefit stopped unfairly leading to 2-3 months without any income where all my utility bills were paid by direct debit via my bank. During this time I had no income whatsoever and it took almost three months and the intervention of two local MPs to put things right.


_____________________________

"Beware, the woods at night, beware the lunar light.
So in this gray haze we'll be meating again, and on that
great day, I will tease you all the same."
"WOLF MOON", OCTOBER RUST, TYPE O NEGATIVE


http://KinkMeet.co.uk

(in reply to stella41b)
Profile   Post #: 8
RE: Another Bank Fee - 2/20/2009 6:26:00 PM   
KatyLied


Posts: 13029
Joined: 2/24/2005
From: Pennsylvania
Status: offline 		For those who complain about the bank fees, did you notice that the customers can take out the money, in one transaction without incurring a fee?  And, do you expect a bank (who answers to stockholders and has employee salary/benefits to pay) to provide its services free of charge?

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RE: Another Bank Fee - 2/20/2009 6:54:33 PM   
BeingChewsie


Posts: 1633
Joined: 10/27/2005
Status: offline
quote:

ORIGINAL: KatyLied

For those who complain about the bank fees, did you notice that the customers can take out the money, in one transaction without incurring a fee?  And, do you expect a bank (who answers to stockholders and has employee salary/benefits to pay) to provide its services free of charge?


I'm with you on this one. To expect banks to provide this service for free is ridiculous, banks should just do away with this convenience service for people when their contracts are up rather than give it away for free. You can get your benefits checks directed deposited or take it in one lump sum. You are paying a fee for the convenience of having the card, if you don't want/need the convenience than switch to direct deposit or take it out all at once.

_____________________________

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RE: Another Bank Fee - 2/20/2009 7:30:19 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		i dont have a problem with the fact that they are charging a fee... but.. damn.. what the hell are they doing with their money that so many banks have needed to be bailed out if they are taking in revenue from a system they already have in place?  its not like they needed to add anything extra... just the charge.  its another example of wasted money by big companies.

_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to BeingChewsie)
Profile   Post #: 11
RE: Another Bank Fee - 2/20/2009 7:34:02 PM   
snappykappy


Posts: 616
Joined: 3/5/2005
Status: offline 		stella

do write a play about it

here in the states rich from big and rich did a song about shutting detroit down and how it was fucking the people

http://www.youtube.com/watch?v=GoIXxFSq7og



< Message edited by snappykappy -- 2/20/2009 7:35:51 PM >

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RE: Another Bank Fee - 2/20/2009 9:32:26 PM   
KatyLied


Posts: 13029
Joined: 2/24/2005
From: Pennsylvania
Status: offline
quote:

what the hell are they doing with their money that so many banks have needed to be bailed out


That is an entirely different issue.  Many regional (smaller) banks continue to enjoy good ratings because they do not have toxic items on their balance sheet.  Some others, obviously, are a huge mess.


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- Albert Einstein

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RE: Another Bank Fee - 2/21/2009 9:03:39 AM   
thishereboi


Posts: 14463
Joined: 6/19/2008
Status: offline 		This has got to be one of the worst ideas I have heard of. People on unemployment don't need more fees to access their money. I would love to see some numbers on how much the banks have made on this one.

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RE: Another Bank Fee - 2/21/2009 9:07:35 AM   
thishereboi


Posts: 14463
Joined: 6/19/2008
Status: offline
quote:

ORIGINAL: BeingChewsie


quote:

ORIGINAL: KatyLied

For those who complain about the bank fees, did you notice that the customers can take out the money, in one transaction without incurring a fee?  And, do you expect a bank (who answers to stockholders and has employee salary/benefits to pay) to provide its services free of charge?


I'm with you on this one. To expect banks to provide this service for free is ridiculous, banks should just do away with this convenience service for people when their contracts are up rather than give it away for free. You can get your benefits checks directed deposited or take it in one lump sum. You are paying a fee for the convenience of having the card, if you don't want/need the convenience than switch to direct deposit or take it out all at once.


The fees on the unemployment cards are much stricter than a normal debit card. If this is just a case of getting the cost of the card processing back, then why isn't the same?

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RE: Another Bank Fee - 2/21/2009 11:44:44 AM   
BeingChewsie


Posts: 1633
Joined: 10/27/2005
Status: offline
quote:

ORIGINAL: thishereboi

quote:

ORIGINAL: BeingChewsie


quote:

ORIGINAL: KatyLied

For those who complain about the bank fees, did you notice that the customers can take out the money, in one transaction without incurring a fee?  And, do you expect a bank (who answers to stockholders and has employee salary/benefits to pay) to provide its services free of charge?


I'm with you on this one. To expect banks to provide this service for free is ridiculous, banks should just do away with this convenience service for people when their contracts are up rather than give it away for free. You can get your benefits checks directed deposited or take it in one lump sum. You are paying a fee for the convenience of having the card, if you don't want/need the convenience than switch to direct deposit or take it out all at once.


The fees on the unemployment cards are much stricter than a normal debit card. If this is just a case of getting the cost of the card processing back, then why isn't the same?



Funny, our bank charges $1.50 every time we make a withdrawal using an ATM. Some banks charge up to $3.00 for the same convenience. It is not stricter and they don't have to use it. They can have it direct deposited into their own bank account or they can take the money out in one withdrawal and incur no fee. Having a check card with the Mastercard/Visa logo is a matter of convenience for us and for the ones complaining about it. I fully expect to pay for things that are for convenience, I'm not sure why they expect to get it from a private company for free.

Many banks are doing just fine and did not need a bailout and the ones that did still have to become profitable. They have shareholders to answer too. You can bet your bottom dollar that if the government takes over the banks you will be paying fees up the ass because that is the only way the government makes any money.

Like I said the banks should just get out of these contracts as fast as possible, there is nothing wrong with making a profit while doing a good thing, they were doing a good thing but fuck it if people want to bitch just take the service away.

_____________________________

"In fact, it is my contention that most women are accepting of way less than optimal circumstance constantly, and are lucky to be 'snagged' by the right man, if ever. But it is more by happy accident than by their design. "
~Ron and Hup

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RE: Another Bank Fee - 2/21/2009 5:34:28 PM   
thishereboi


Posts: 14463
Joined: 6/19/2008
Status: offline 		If your bank is charging you 1.50 every time you use an atm, you are being screwed. However the Unemployment card charges 1.95 and like I said before. It is higher than most banks charge.

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This here is the boi formerly known as orfunboi


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Profile   Post #: 17
RE: Another Bank Fee - 2/21/2009 5:50:46 PM   
MissBeautiful2U


Posts: 98
Joined: 12/5/2008
Status: offline 		You know what?  Personally I do expect the banks to provide this service free of charge and let me explain why.  Most banks offer free banking to those with direct deposit.  Why do they do this?  Because they know that there will be an installment of cash at some sort of regular interval.  The banks then use this money to lend out to other customers who pay a far greater fee to use the money than the banks pass on to those who keep their money in the bank.  THAT is where banks should make their profit. I am sure that it does not cost the bank much to have multiple transactions per day in the age of computerization.

With the prepaid cards, the bank is given use of the money for an extended amount of time.  Same as with direct deposit and when the state is managing the deposits on these prepaid cards, the banks are assured that there will be more deposits coming.   Hence more money to use for the time being.  I feel that the states that use this system are not doing their citizens right in agreeing to these fees.  Many people find it easier to spend money if the cash is in their pockets and would prefer not to have it all in cash, not to mention the security aspect of carrying larger sums of money... although I suppose one could make the argument that unemployment benefits is not THAT large of a sum, if it is all that you have coming in at the time, it certainly is.

Just my two cents. 

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RE: Another Bank Fee - 2/21/2009 5:50:55 PM   
Aneirin


Posts: 6121
Joined: 3/18/2006
From: Tamaris
Status: offline 		Hmmm, bankers = wankers, it is obvious the bankers are instrumental in this financial mess we are in, but what strikes me as odd, is why the politicians are sucking up to them. I though politicians represented the people, or is it they have gone past where their original aim of representing people to where they are now, ensuring the viability of bankers and their wankers. I was with a wank bank, nafwest, they caused my financial hardship my ignoring the fact I was on state benefits and so lumping on charges I just could not deal with. Strange that when I moved to the Co- op bank I could manage my affairs with ease, just what does this say about nafwest.

The economy will collapse it is said if the bankers go to the wall, is this true I wonder, maybe it will take a few banks to be shot at dawn for the rest to pull their finger out and start valuing their customers, not riding roughshod over them.


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RE: Another Bank Fee - 2/21/2009 6:07:01 PM   
BeingChewsie


Posts: 1633
Joined: 10/27/2005
Status: offline
quote:

ORIGINAL: thishereboi

If your bank is charging you 1.50 every time you use an atm, you are being screwed. However the Unemployment card charges 1.95 and like I said before. It is higher than most banks charge.


We like our banks(and the ATM convenience of other banks we use) and we don't mind being charged fees by private companies for services that make our lives easier. We understand they are in the business of making profits. So it is pretty simple if you don't like the fees don't use the service they offer as a convenience to you, it is not a right, in the case of unemployment benefits it is not mandatory either. Have the benefits check direct deposited into your own bank.

_____________________________

"In fact, it is my contention that most women are accepting of way less than optimal circumstance constantly, and are lucky to be 'snagged' by the right man, if ever. But it is more by happy accident than by their design. "
~Ron and Hup

(in reply to thishereboi)
Profile   Post #: 20
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