x.com new monthly fees DIFFERENT FROM NSF FEE!!: deal on how to save (CANCEL!!)

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spec411

Senior member
Apr 18, 2000
594
0
0
MODS: This is important issue SEPARATE from the NSF-fee credit line avoidance deal with x.com, thus the new topic.


Get this load of bull...X.com is now charging $12/month MAINTENANCE FEE for accounts with balances under $100! So ANYONE using the line of credit, besides paying interest, will be charged $12/month for NOTHING! At least with a credit card your $12 or $15 minimum payment pays down the balance a little!

How to avoid these fees:
1. Keep at least $200 in xcom account at ALL TIMES..they go by your average daily balance, so if you plan on only keeping $100 in but ever dip below for a few days, you'll still be charged the fee at the end of month!

2. Transfer any balance in your xcom credit line to a credit card that has a balance transfer promo with a good rate and no fees (do a search for these)..try www.bankrate.com

3. CANCEL YOUR XCOM ACCOUNT! Dont just let it sit inactive! THEY ARE NOT NOTIFYING PEOPLE BY MAIL, ONLY EMAIL!! Anyone who signed up just to get the bonus and kept a 0 balance is about to get hit with HUGE FEES!!! Remind your friends!

Here is the email they sent:
"Dear X Finance Customer:

This email is to notify you of changes to the terms and conditions under
which First Western National Bank provides banking services through the X
Finance website. These changes will take effect on November 1, 2000.

Monthly Account Fee
All accounts with an average monthly balance of less than $100 will be
assessed a $12 monthly maintenance fee. The initial fee will be assessed
on November 1st and subsequently on the first business day of each month.

ATM Rebate
Third party ATM surcharges will be reimbursed only for accounts with an
average monthly balance of $100 or more.

Also, we reserve the right to close an account if you maintain a zero
balance."


THIS IS TOTALLY CONTRARY to what is shown on their site at
https://secure.finance.x.com/banking.asp



"Banking Services

No minimum deposit, no minimum balances and no monthly service fees!


Unlimited, free checkwriting
Free starter kit of 50 checks
X.com titanium Visa Check Card
Up to $6 per month in ATM surcharge rebates
Online account access, 24/7
FDIC insured "

These guys are going to have HUGE legal problems and take Paypal down with them!! Word to the wise: cancel those xcom accounts and keep Paypal balances near 0!

credit goes to markber for posting this new fee info - I am actually now fortunate to have been "banned" from xcom/paypal as now they are taking a turn downwards...

 
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daid

Senior member
Oct 13, 1999
428
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I really never thougt I would be saying this, but X.com is SUCK! I DO like PayPal though. :D
 
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rigor2

Banned
Sep 18, 2000
183
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Notice that Paypal.com is DEAD this morning. nada.

Hows it going to feel when you login to x.com some day and thats what your get.
nada

ATM: DECLINED.
Checks: Bounced.

Where you going to go? Call up their useless 1-800 support? Take a flight to colorado?


hehe
 
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bigbootydaddy

Banned
Sep 14, 2000
5,820
0
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this is very true:

Checking Account


Is there a minimum balance requirement or monthly account fee?
There is currently no balance requirement or monthly account fee.
Effective November 1, 2000: All checking accounts with an average monthly balance of less than $100.00 will be assessed a $12 monthly maintenance fee. The fee will be assessed on the first day of each month, with the first fee being assessed on November 1, 2000. If the account balance is less than $12 on the first day of the month, the fee will reduce the account balance to zero, but it will not reduce the account balance below zero.

hmm is writing to them the only way to cancel, i say that anyone who cancels their account post it here, case i guess we can keep a penny in their and itll be taken away, as opposed to 12 bucks...i think ill do that just to piss em off
 
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MiniDrag

Banned
Jul 23, 2000
82
0
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Just went to PayPal - it is working fine.

X.COM owns PayPal, but these rates are for x.com ONLY. They have nothing to do with PayPal at all. Kind of like your bank changing terms on your checking account - that doesn't have anything to do with your savings account. They are different things, even though they are owned by the same place.
 
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tkim3

Member
Sep 18, 2000
94
0
0
I just called X.Com customer service, to close your account, you need to send them an email to help@x.com and include your request to close the account, your ssn and account number.
Hope that helps.

 
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Daniel

Diamond Member
Oct 10, 1999
3,813
0
76
I read about yahoo having a new payment service, anyone have any input on that?
 
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TheBigZ

Senior member
May 25, 2000
629
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As we all know that X.com & PayPal are the same company, I think we can make some reasonable assumptions based on the events of the least couple months. It is apparantly the company's intent to close down the X.com operation in favor of PayPal. The removal of credit lines and implimentation of service charges that are 2 to 12 times that of a b&m bank make this quite clear. Person to person money transfer over the net is still in it's infancy, but has proven to be a potentially large & profitable market. That being said, expect it to be treated in the same manner that ATM market was treated... which is actually much the same way drug dealers operate. "We'll give you this neat thing for free... use it often & make it a part of your life. And once you become addicted to it, we'll slowly bleed you dry with fees."

Surely this was a move that X had to make. Who had X accounts? Most likely, only the people that signed up for the free initial cash. Who actually uses their X account. Most likely, very few people. Most spent 90% of the cash on some small item & have just a few bucks laying in the account earning a penny interest every month. They did however handle this badly. The more customer conscious thing to do would be to send a friendly email offering customers the option to move their X acct to a PayPal account. That would have been much better received than the bull in a china shop message they did send.

Regardless, expect to start paying something for this service. If Yahoo is getting into this business, they're doing so for one reason alone... they think there's money in it. Expect a surge of players in this developing market. After which, we will have the traditional merger feeding frenzy. Good luck picking the one to invest in! ;)
 
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phUnk

Member
Jul 12, 2000
39
0
0
So, TheBigZ, I'm confused. Are drug dealers going to start offering person2person transactions, or are person2person transaction companies going to start selling drugs?

Imagine that? 10 free transactions a month, no service fees and a free ounce of weed if you sign up today!

:D
 
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spec411

Senior member
Apr 18, 2000
594
0
0
dont think just because you only have a paypal and not xcom bank accoun this doesnt affect you!!

xcom OWNS paypal, and will and HAS implemented several important changes without ANY NOTICE to its customers! They are absolutely unprofessional and a call or email to customerservice resolves NOTHING.

There are several competing companies: Netbank, Compubank, Wingspan in terms of online banking and
Payplace, ecount, exchangepath, and yahoo's paydirect in the online payment area...USE THESE INSTEAD!!!

Because Paypal became so large they feel they can make any changes they want and people will just stay....DONT DO IT!! LEAVE and URGE OTHERS TO LEAVE TOO! DO you think xcoms and Paypals promises of free service would really last??? NO.
 
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Bermar

Member
Mar 23, 2000
35
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You are very welcome to express your opinion about new X.com monthly fee at


X.com forum at i-Bank Design board

Hopely we can deliver the results of the poll to x.com investors and let them decide if they like how
x.com is treating its customers and doing business.

If they wanted people to use them as a regular online bank they should have introduced free online bill payment. This one move alone could increase money flow through x.com dramatically. Instead, they decided to get rid of cusotmers who do not want to use x.com limited online banking services on a regular basis.

X.com could wait until its international services are ready to see if the "international expansion" will make current customers use x.com more often and keep money on their accounts. But they decided to eliminate inactive accounts now before the big inovation. I guess there is some major problem with X.com management.
 
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db

Lifer
Dec 6, 1999
10,575
292
126
I have to agree with TheBigZ that this was handled poorly PR-wise by x.com.
This is the typical response from a business that finds itself sucking air and angrily responds to the customers who are blamed for the company's problems.

As for me, I snailmailed in 2 checks for deposit to x.com last Spring. They never showed up in my account. Finally after about 5-6 weeks of inquiries, they showed ONE of them credited to my acct. They have simply ignored the other one. This is the kind of service you can expect from x.com.
I'm filing with the FDIC.
 
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adazam10

Member
Jan 27, 2000
41
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You can close your account easily by logging in, clicking of "FAQ" and going to the question "How do I close my X.com account?" There is a button there that you press and it closes your account. I thought this was easier than emailing them.
 
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vinnyracer

Golden Member
Oct 12, 1999
1,162
0
0
Sorry, I didn't know x.com and paypal.com is different. I thought paypal.com was going to charge $12 a month.
 
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w3b

Golden Member
Apr 23, 2000
1,089
0
0
suddenly my money has vanished from my x.com account.. has anyone encountered the same problem?
 
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spec411

Senior member
Apr 18, 2000
594
0
0
regardless whether xcom bank and paypal are separate , you can BET they will pull the same stuff with paypal (they even already have!)

Make sure in any complaints that you mention both xcom and paypals improper changes...xcom is obviously trying to "shut down" their bankign services


There are way better payment options out there...its up to us, who have always been the first to know about these deals, to encourage others to use the better services....
 
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stonerdave

Golden Member
Jul 26, 2000
1,110
0
0
this was posted by superRob on a diff thread...how to cancel with out sending an email...


Here's how to close if you don't want to bother sending them a notice on why.

1. Log into your account. You can do this by visiting PayPal and entering your email address and password in the Member Login box.

2. Click the "Profile" subtab.

3. Click the "Close account" link on the left of the screen.

4. Click the "Continue" button.

5. Click the "Cancel Account" button.
 
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