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People enjoy paying to pay

D

dmcowen674

No Lifer
I bet every ATOTer enjoys paying to pay and that is why this is getting higher and higher as well as banks charging to use cards etc.


Effective October 1, 2011, the convenience fee for electronic payment will be changing from $2.90 to $3.50.

ADMIN FEE $3.50

This is on top of other bullshit fee:

HEAT SERVICE FEE $1.00
 
What?

images
 
Wow, add that $5/gallon gas on top of everything and your life must suck.

Mine doesn't. Move. At least to a different bank.
 
Why is it when BoA charges 5$ for debit use, the people go nuts? Do People understand that each store or merchant has a hidden fee to cover your debit use? Go to Quiktrip, Blockbuster, Walgreen's, Wal-Mart, Lowes, McDonalds etc... All combined, charge you more than 5$ in a hidden fee. The average merchant fee is charged 2% by Visa, Mastercard, Discover.... American Express can charge up to 3-4%. The same goes with Debit but a little less around 1-2% average.

Imagine this for a second: You buy 10$ of food at your local McDonald's. McDonald's actually charged you 9.80$ but added 19.6cents for using your Visa Card. That is 20 cents for ONE transaction. If you eat at Mcdonald's once a week, spend an average of 10$, that is an extra 1.00$ they just charged you for the convenience of a credit card.

If someone can help me understand, I would appreciate it. If a bank makes you angry, what do you do? Sit and complain or actually move your money? I'm not defending the banks actions, just tired of people complaining and not really understanding the process.
 
irishScott said:
Wow, add that $5/gallon gas on top of everything and your life must suck.

Mine doesn't. Move. At least to a different bank.
Click to expand...

Not sure why he's complaining. I mean we've shown him that when he's telling us he's paying $5/gallon for gas, gasbuddy shows that the gas station actually charges everyone less.

Dave just likes to pay more for things than everyone else.
 
Zstream said:
Why is it when BoA charges 5$ for debit use, the people go nuts? Do People understand that each store or merchant has a hidden fee to cover your debit use? Go to Quiktrip, Blockbuster, Walgreen's, Wal-Mart, Lowes, McDonalds etc... All combined, charge you more than 5$ in a hidden fee. The average merchant fee is charged 2% by Visa, Mastercard, Discover.... American Express can charge up to 3-4%. The same goes with Debit but a little less around 1-2% average.

Imagine this for a second: You buy 10$ of food at your local McDonald's. McDonald's actually charged you 9.80$ but added 19.6cents for using your Visa Card. That is 20 cents for ONE transaction. If you eat at Mcdonald's once a week, spend an average of 10$, that is an extra 1.00$ they just charged you for the convenience of a credit card.

If someone can help me understand, I would appreciate it. If a bank makes you angry, what do you do? Sit and complain or actually move your money? I'm not defending the banks actions, just tired of people complaining and not really understanding the process.
Click to expand...

What the fuck are you talking about? Your 'imagine this' doesn't even have a direction. That isn't what happens at all --> the price you pay is the price before you choose what type of payment you will use. Everyone knows that there is a small retailer fee to use a debit card or a credit card. Are you suggesting to have sympathy for the retailer?

Furthermore, it is a companies choice to accept card payments (many places won't accept AMEX or Discover for that reason); they willingly choose to engage in that contract knowing that some customers (like me) will only really use credit. If I am going to choose where to spend my money, I'm going to prefer to go to the retailer that accepts credit. So from their perspective, the X% they pay as part of the transaction is worth it, because it gains them sales they may otherwise not have had since they are limiting the forms of payment they will accept.
 
Dude, did you get your house back?

Shouldn't your mind be a bit more distracted on things like your missing house?
 
Zstream said:
Why is it when BoA charges 5$ for debit use, the people go nuts? Do People understand that each store or merchant has a hidden fee to cover your debit use? Go to Quiktrip, Blockbuster, Walgreen's, Wal-Mart, Lowes, McDonalds etc... All combined, charge you more than 5$ in a hidden fee. The average merchant fee is charged 2% by Visa, Mastercard, Discover.... American Express can charge up to 3-4%. The same goes with Debit but a little less around 1-2% average.

Imagine this for a second: You buy 10$ of food at your local McDonald's. McDonald's actually charged you 9.80$ but added 19.6cents for using your Visa Card. That is 20 cents for ONE transaction. If you eat at Mcdonald's once a week, spend an average of 10$, that is an extra 1.00$ they just charged you for the convenience of a credit card.

If someone can help me understand, I would appreciate it. If a bank makes you angry, what do you do? Sit and complain or actually move your money? I'm not defending the banks actions, just tired of people complaining and not really understanding the process.
Click to expand...

Yes, but that is included in the price of the item. Why should I have to pay my bank just to use their debit card? Not using it doesn't make them any money, it's fucking stupid.
 
It's not just the bank that charges, but the store, or if using an ATM, the ATM company.

For example when I take out money from the ATM where I work, two extra $1.75 charges show up. I'm guessing one is the bank and the other is the ATM company. It sucks, but it's life. It's like paying taxes, nobody likes it, but you have to. That's why if I have multiple purchases to do, I just take out a wad of cash so I only get charged the service fees once. Or I'll buy at a place that does cashback, and do that.

When I go to walmart, I often get cashback if I want to go to mcdonald's after for example.

Personally, I think these silly service fees need to be outlawed. A card should simply be a convenient way to pay without using cash. It should not cost more.
 
If you pay by check, checks do cost something, not to mention they take a long time to write out. A lot of places don't even take checks. If you pay by cash, you have to constantly restock your cash supply. That means either visiting an ATM (I guess you'd have to get a non-debit ATM card) or going into a branch location. Add up all that extra driving (gas) plus any ATM fees you'd get for those emergencies where you need money but aren't near one of your own bank's ATMs, and I'm sure you'd rack up more than $5 each month.

That said, get a better bank. I switched banks when my old bank started charging for their formerly free checking accounts.
 
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