Banks backing away from recent user fees.

[soccerballtux]

this would have happened whether or not those fees got banned, as soon as they ran out of alternative profit sources.

They'll probably slip it back in on us in 3 months and by then people will have warmed up to the idea.

 

[Engineer]

My "printing money like no tomorrow" comment was not meant to be taken as the only thing that is affecting the value of the dollar. I suppose I shouldn't have mentioned it at all. Then you somehow still manage to throw your partisan anti-rich crap in there that has no bearing on the subject at hand.

The point is, the value of the dollar is going DOWN, so prices are going UP. I hope you understand that.

listen man, I don't give a shit if rich people get richer or not as long as the rest move up and not back. Whether you like it or not, my statement is spot on and you know it.

If the money isn't flowing, I'm not sure how prices (inflation) can be going up. Simple supply and demand to me and if the people don't have "more" of the supply, they can't inflate price (demand).

Finally, LOL for calling me partisan. First, I'm for people and jobs and hate all of the fuckers that have put us in position to ship them out, period. I'm for everyone rising with the tide, not just the top and since the bottom is sinking, I'm going to bitch about ANYONE who keeps it sinking (example: stupid fuck Obama for signing more so called free trade shit lately as well as giving in and letting Mexican truck drivers into this country, tariffs be damned). Oh, and you're definitely one to spout shit when you have a sig like that....hypocrisy 101.

 

[dmcowen674]

I don't give a shit if rich people get richer or not as long as the rest move up and not back. Whether you like it or not, my statement is spot on and you know it.

If the money isn't flowing, I'm not sure how prices (inflation) can be going up. Simple supply and demand to me and if the people don't have "more" of the supply, they can't inflate price (demand).

Finally, LOL for calling me partisan. First,

I'm for people and jobs and hate all of the fuckers that have put us in position to ship them out, period.

I'm for everyone rising with the tide, not just the top and since the bottom is sinking,

I'm going to bitch about ANYONE who keeps it sinking (example: stupid fuck Obama for signing more so called free trade shit lately as well as giving in and letting Mexican truck drivers into this country, tariffs be damned).

Here here :thumbsup:

 

[tm37]

swipe fees are just replacing the ATM card fees of years ago.

Prior to debit cards there were ATM cards and at some stores you could use them and it cost you $50 each time

 

[lothar]

Would you rather have a $5 monthly debit card fee or a $20 monthly maintenance fee for having a combined balance in checking, savings and loans of <$15,000?

The uproar over Bank of America's $5 monthly debit card fee is nothing but foolishness.
A major bank just instituted that "<$15,000 in checkings/savings/loans, pay $20/month maintenance" fee and yet not a peep about it is mentioned at Occupy Wall St., the Senate floor, the White House, or here on Anandtech.

Idiots are funny. I guess because Bank of America is the biggest bank, they are automatically the target for politicians and John Q. Public.
Just like it's cool to hate Intel and Microsoft on the intrawebs.

 

[Doppel]

Here here :thumbsup:

Hear, Hear.

I have not paid a single nickel in many years for my checking account or use of debit card in any capacity whatsoever. As long as there are banks that let me do it without paying I will move to them.

 

[LTC8K6]

Yes, the banks will make up the revenue, and the customers will pay.

Those of you who aren't paying the fees directly, are paying them indirectly.

But you are paying for the use of your cards and your accounts.

 

[Craig234]

Yes, the banks will make up the revenue, and the customers will pay.

Those of you who aren't paying the fees directly, are paying them indirectly.

But you are paying for the use of your cards and your accounts.

The question is, are they overpaying? Are regulations in place to prevent that? Is competition occuring to prevent gouging?

 

[Lanyap]

Regions and Suntrust just announced they are dropping their new debit card fee. Now they will probably turn around and spread the fees out so people don't realize it.

 

[Engineer]

In case it was missed, BoA decided to drop the $5 fee for using debit cards. They were not very happy with the customer complaints and the resulting drop in business. Also, this Saturday is supposed to be dump the bank day and I guess it scared the shit out of them.

 

[waggy]

listen man, I don't give a shit if rich people get richer or not as long as the rest move up and not back. Whether you like it or not, my statement is spot on and you know it.

If the money isn't flowing, I'm not sure how prices (inflation) can be going up. Simple supply and demand to me and if the people don't have "more" of the supply, they can't inflate price (demand).

Finally, LOL for calling me partisan. First, I'm for people and jobs and hate all of the fuckers that have put us in position to ship them out, period. I'm for everyone rising with the tide, not just the top and since the bottom is sinking, I'm going to bitch about ANYONE who keeps it sinking (example: stupid fuck Obama for signing more so called free trade shit lately as well as giving in and letting Mexican truck drivers into this country, tariffs be damned). Oh, and you're definitely one to spout shit when you have a sig like that....hypocrisy 101.

/this



Also i think the main reason prices have gone up so drasticly is well the price to ship it cost so much more. with gas being as high as it has for as long as it has shipping is eating up a good portion of its profits. Now they aren't going to take less profit so they either need to fire people, smaller packages, or raise price. seems all 3 have been happening.

only "good" part is that with more people trying for jobs and starting wage dropping (one place around here used to start off at $13/hr now paying $8.something) i hope places will stop sending more over seas.


Also add in when gas was under $2 i know many people that would just drive around and window shop. Wich leads to impulse buys.

 

[bfdd]

but i thought the last thing we wanted was a run on the banks, isn't this what Jhhnn has been telling me lately? i'm pretty sure there's a few posts in the ows thread with him spouting such non-sense. then you can go visit Occupy forums and web pages and see they support Bank Transfer Day, you know the run on the banks. lols

don't do business with assholes and don't vote for assholes. not doing something is an alternative.

 

[spittledip]

This pretty much proves the banks don't need this money.

 

[JSt0rm]

well I already opened an account at my credit union.

 

[Icepick]

I stopped doing business with BOA when I stopped working for them. The last day on the job I shut down my accounts and transferred them all to a credit union.

The good news is that BOA seems to have received a message from their customers as to how much profit taking they'll tolerate. The bad news is that BOA is just going to invent clever ways to hide new fees. I recommend avoiding BOA.

 

[Engineer]

This pretty much proves the banks don't need this money.

Maybe...maybe not. Maybe this proves the banks need the many customers that are leaving them and decided that it was better to keep them and their money/business (which makes them money) over nickel and diming them to death.

 

[TheAdvocate]

I stopped doing business with BOA when I stopped working for them. The last day on the job I shut down my accounts and transferred them all to a credit union.

The good news is that BOA seems to have received a message from their customers as to how much profit taking they'll tolerate. The bad news is that BOA is just going to invent clever ways to hide new fees. I recommend avoiding BOA.

Ehh, I'm no big fan of theirs and in general I agree with you, but there was a story just today about how their current employees are flooding the job market with resumes. Not sure if it's just the new initiative to cut 30,000 jobs, or if they dont want to be on a sinking ship.

In either case, BofA is going to be a much smaller company when this is all said and done (how small though?). That fee hike was their last gasp at staying @ roughly their current size and profit taking.