Banking - What are debit fees?

[Chu]

Apparently my local bank (LaSalle) offers free checking -- with a "small debit fee charged after the first 10 transactions." I'm assuming a debit fee is a fee for withdrawal - but I can't find a definition of exactly what a debit fee is collected for on their site. Am I right?

P.S., I swear to god "free checking" at any place other then a credit union is a scam

 

[Kilgor]

Maybe your only charged a fee if you use a Debit card more than 10 times ?

 

[MikePanic]

they should have very clear details on this... ask your bank rep or bank manager if you can't find it in any literture and ask that they spell it out for you

some banks charge fee's everytime you use the cars as a visa check card, some only charge if you deposit or withdraw from an atm machine that's not from that institution, some charge no matter what and some have no fee's whatsoever

 

[krunchykrome]

Originally posted by: Chu
Apparently my local bank (LaSalle) offers free checking -- with a "small debit fee charged after the first 10 transactions." I'm assuming a debit fee is a fee for withdrawal - but I can't find a definition of exactly what a debit fee is collected for on their site. Am I right?

P.S., I swear to god "free checking" at any place other then a credit union is a scam

When you make a purchase at a store or whatever, most often you have the choice of selecting your payment method to be either debit or credit. They're basically the same thing. The only difference, if you select debit, your bank will charge you a "debit" fee. My bank charges .75 per debit transaction. So, from now on, when you use your debit card, select the credit payment method. There are many more hidden fees than the debit fee that banks dont tell you about. Of course they can all be found in disclosures and such, but no human being can read that much BS. Fee income is aggressively pushed in banking.

 

[TrueBlueLS]

Originally posted by: Chu
Apparently my local bank (LaSalle) offers free checking -- with a "small debit fee charged after the first 10 transactions." I'm assuming a debit fee is a fee for withdrawal - but I can't find a definition of exactly what a debit fee is collected for on their site. Am I right?

P.S., I swear to god "free checking" at any place other then a credit union is a scam

The way it's known at my bank is that anything deducted from your account is a debit. Do you live anywhere near a Huntington in Indiana? That's who I have my free checking with.

 

[Chu]

Originally posted by: TrueBlueLS

Originally posted by: Chu
Apparently my local bank (LaSalle) offers free checking -- with a "small debit fee charged after the first 10 transactions." I'm assuming a debit fee is a fee for withdrawal - but I can't find a definition of exactly what a debit fee is collected for on their site. Am I right?

P.S., I swear to god "free checking" at any place other then a credit union is a scam

The way it's known at my bank is that anything deducted from your account is a debit. Do you live anywhere near a Huntington in Indiana? That's who I have my free checking with.

I'm in Chicago - but at college I have real free checking at an excellect credit union for Purdue students/employees only. Do any of the major banks have 'real' free checking? I have so many ATM's and three big chains (LaSalle, BankOne, City) within 4 blocks of here. BTW, if your wondering, LaSalle is the one I am referring to in the topic. I live 9 floors above it.

-Chu

 

[gsaldivar]

Join a credit union.

Zero fees for any of my own CU's ATM's, and zero fees for any of the 17,000+ CU Co-Op ATM's nationwide...

 

[RossMAN]

Originally posted by: gsaldivar
Join a credit union.

Zero fees for any of my own CU's ATM's, and zero fees for any of the 17,000+ CU Co-Op ATM's nationwide...

Best advice.

Join a credit union.