Amid record profits, Wells Fargo to "test" debit card fee.

Originally posted by DrumsRfun
reply to post by CastleMadeOfSand

 

Cash!!!
How do you pay bills??

NOT cash. They won't take it. I pay with checks. My apartments won't take cash either. I HAVE to have a checking account to have a roof over my head.

I just received a letter from them in my online account and it says they are going to charge me 7$ a month to have a checking account if i don't keep a balance above 1500.00$ . Or it will be waived if i have direct deposits totaling over 500$ per month. I don't have the option of direct deposit and i am not in a situation that allows me to keep over 1500$ in my checking account in this economy. I guess i understand and I am not complaining, I am just gonna have to change banks to get a better deal. They want to adapt then so can i. So long Wells Fargo, was fun for awhile.

Originally posted by DrumsRfun
reply to post by BeyondPerception

 

No warranty though.
I'll buy at the stores with cash and know what I am getting and what services i get with my warranty.

No warranty?

It comes with a regular 1-year manufacturer's warranty.

As well as a 30-day return policy whereas I don't pay a cent for it to be returned, if it's defective or damaged.

And if I wanted to buy insurance, there are other companies that sell insurance for newly purchased electronics online. E.g. SquareTrade.

And as far as extra services in the store, I've never heard of such a thing, unless you paid the extra cost for them.

reply to post by CastleMadeOfSand


That kinda sucks.
I run buildings and one of them is an apt building.
I gladly take cash.

I only have a chequing account so i can get paid.

Originally posted by DrumsRfun
reply to post by CastleMadeOfSand

 

Cash!!!
How do you pay bills??

Dude you crack me up, seriously though you're Amish right?

reply to post by BeyondPerception


Sorry bout that.
I was assuming e-bay or something.
I am not familiar with online buying.

reply to post by Fitch303


Glad i can amuse you with my choices.

Originally posted by CastleMadeOfSand

Originally posted by DrumsRfun
reply to post by CastleMadeOfSand

 

Cash!!!
How do you pay bills??

NOT cash. They won't take it. I pay with checks. My apartments won't take cash either. I HAVE to have a checking account to have a roof over my head.

Use USPS MO's.

There is always a way to pay without needing a bank account.

If somebody would rather have a personal check over a money order that somebody is sick in the head.

Originally posted by thisguyrighthere

Originally posted by CastleMadeOfSand

Originally posted by DrumsRfun
reply to post by CastleMadeOfSand

 

Cash!!!
How do you pay bills??

NOT cash. They won't take it. I pay with checks. My apartments won't take cash either. I HAVE to have a checking account to have a roof over my head.

Use USPS MO's.



There is always a way to pay without needing a bank account.

If somebody would rather have a personal check over a money order that somebody is sick in the head.

edit on 17-8-2011 by thisguyrighthere because: (no reason given)

Yeah, I've used Money Orders before. They are a hassle to do 3 times a month for years on end.

Originally posted by DrumsRfun
reply to post by BeyondPerception

 

Sorry bout that.
I was assuming e-bay or something.
I am not familiar with online buying.

Even if you bought the item on Ebay, the manufacturer is likely to handle a claim. Some are picky, and watch a proof of sale date, but many times they just send you a replacement along with a return envelope for your other item.

This is becoming more and more strict over time, with considerations to sites like Ebay. Many manufacturer's now require that an item be purchased from their 'list' of approved vendors in order to make warranty claims.

Online buying has huge benefits if you know what you're doing.

reply to post by BeyondPerception


What would I need to buy online?

Originally posted by DrumsRfun
reply to post by CastleMadeOfSand

 

That kinda sucks.
I run buildings and one of them is an apt building.
I gladly take cash.

I only have a chequing account so i can get paid.

edit on 17-8-2011 by DrumsRfun because: (no reason given)

Are you willing to harbor an illegal alien? I promise I won't take your jobs or women!

reply to post by CastleMadeOfSand


I pay for my home with a cashiers check.
Same with DSL, Cell, and utilities.

No contract with dsl or cell,
so no pay, no service, no problem.

Cashiers checks cost $6.00 each, so I spend $24/month.

For now, Wells Fargo's $3 debit card fee test will be limited to accounts opened in Georgia, Nevada, New Mexico, Oregon and Washington. A spokeswoman for the bank, Lisa Westermann, did not say when the bank would decide whether to roll out the fee in other areas. The test comes at a time when consumers are increasingly relying on debit cards. An Associated Press-GfK poll last month found that about two-thirds of consumers use debit cards more frequently than credit cards. When asked how they would react if they were charged a $3 monthly fee for their debit card, 61 percent said they'd find another way to pay. From The Detroit News: detnews.com...$3-debit-card-fee#ixzz1VK5FurgV

So with only 5 states involved this really is just a marketing test. If you have even a single automatic billing to a credit card you won't waste any time by switching to the credit card to pay everything. I would gladly remove a debit card from my wallet to save $36 a year.

Originally posted by Oaktree
reply to post by DrumsRfun

 

In August of 2007, I gave myself a birthday gift of a debt-free life by closing all credit cards and bank accounts.
I opened a savings account at a community bank, and leave just above the minimum amount required to keep it open.

I am cash only (and cashiers check when needed) and I have never felt freer or richer!

I did the same thing and I totally agree with you. We are made to feel like we can't operate in this world without a checking account and interest-charging credit cards. Its not true.

At first I received the same kind of incredulous comments which you are receiving here. I almost caved in and went back. But now I wouldn't go back for anything. I pay with money orders, cash, or a prepaid visa (which works everywhere and does not clean out your checking account and savings if you get hacked online). I actually spend less time figuring out and paying bills and checking accounts and accounting issues. It totally de-complicated my life. Money issues have dropped to the bottom of my importance list...right where they should be.

Banks manipulate entries and data costing its customers hundreds and thousands of dollars. That's how they make money. They actually have programs which are coded to manipulate transaction entries which will result in the likeliness of at least one overdraft if busy people are not watching their affairs like a hawk.

I will never go back to that trap. We do not need banks. Banks need us.

Originally posted by DrumsRfun
reply to post by Oaktree

 

I love it!!!
I have been whining about people using debit cards for years now.
That extra time i have to spend in line because they won't use cash and can't have their card ready without digging it out at the cash and can't push a few buttons correctly without having to start over and taking more of my time...

Bullpies!!! Do you realize how much more time is spent waiting in line behind some absolute idiot who cannot decide whether they want to pay for their $4.12 purchase with 4 $1's and 2 nickels, 4 $1's and a quarter, or just break the $5 in their wallet. That doesn't even scratch the surface of the valuable time spent waiting for the acne farming cashier to count out the correct change owed the customer nor the epic wasting of time as the dummy with the QUEST card has to sort through which items they can actually buy with their assistance and which ones they have to spend the money they supposedly didn't have when they got the card on.

I have never had an issue with using a debit card. In fact, most people slide their card and enter their pin while the cashier is still bumbling their purchases across the scanner. The truth is in the pudding, so to speak, and the truth here is that Wells Fargo is going to push this fee because they recognize that debit cards are the most convenient and quickest method of purchasing goods, thus folks will likely be willing to pay $3 a month for said convenience.

DAMMIT DAMMIT DAMMIT!!!!
I was having no problems with wachovia, then wells fargo rolls in and takes it over...
I hate this country to much it's not even funny.

Wells Fargo talked me into leaving my previous bank of 7 years. Been with WF for about 3 years. Other than the $35 overdraft fee, I haven't really had any problems. The couple times I've had claims where money was taken out of my account without my authorization, they immediately replaced the money (as in that very second), and then started an investigation.

I can do cash advances electronically where the money is immediately deposited into my account. I've used that service many times and comes in very handy when you have an emergency car repair, or just want to buy something right away and then have it taken out on payday.

Wells Fargo has many great services and I don't feel (yet) as if I'm being taken advantage of by them


As far as using cash, yeah, that takes a whole lot more time than me swiping my card. Wells Fargo doesn't even let you swipe your card as a debit card, so no entering any PIN numbers. All I do is swipe and go. Much faster than digging/counting cash, or taking forever to write a paper check.

I buy many things online. I've never once had a problem from buying something online in all my years of online shopping. In fact, shopping online is my preferred way to shop. And I can even check local stores' inventory online before I order from somewhere else and have it shipped.

As far as bills, I pay everything electronically (except rent for my apartment). I have no paper bills sent to me. My bills are sent via email and I pay electronically or have them automatically debited from my account. No paper bills = less dead trees.

As far as the $3 fee, PFFFFTTT!!!!. That's ten cents a day or seventy cents a week. That few pennies a day is not going to make or break whether I can pay bills or eat food every month.


ETA - I have no credit cards, nor debt other than my school loans.

Lol @ the fools that still use a big bank.

I've been with my credit union for five years and I don't have a single complaint

Keep feeding these banks whats left of your income

Imagine...someone charging you to hold YOUR money

The banks should be burned to the ground and the executives should be exterminated. No trial. No pleas for mercy.

Originally posted by illuminatislave
Keep feeding these banks whats left of your income.

If $3 a month is "what's left of your income", you shouldn't even have any money in a bank at all in the first place.