The Big Banks Blink: on debit card fees

Originally posted by aboutface
[Well it's a relief to know that they are finally waking up to our displeasure. However, knowing them, I think they will merely postpone their sickening, grubby greed for a later date.

Just change your bank account. I don't pretend to understnd the US banking set-up, but in the UK there are a handful of main highstreet banks and a good number of smaller banks and "building societies". The latter are owned by their members.

If the major highstreet banks do things that overly annoy their customers, then move your business.

Personally, I have two major accounts (mine and my wifes), a billing/payment account, a "high" interest account and between us we have three building society accounts. It would be relatively uncomplicated to move our business away from any of these in preference to another.

I would recommend everyone has at least two bank accounts, even if one is fallow.

Regards

The purpose of this action is to merely plant the seeds that when blossomed will be the rude awakening that they all need and that is the people have had it. It may have ti get to a point whereas we ban a bank from being privately owned.

The State owned and smaller banks aren't attempting to pull half the yap these TBTF group are.

It's time to test this and see how far we can take it.

Our voices have changed something!

Bank Of America Rescinds Proposed Monthly Fees

Bank of America said today it’s dropping plans to charge customers a $5-a-month fee to use their debit cards next year. The second-largest U.S. bank announced the fee in late September, and customers responded with a flood of protests. Some threatened to leave en masse as part of Bank Transfer Day, Nov. 5.

kool1017.com...

what else can we change????

Banks will never lose out because they make their own rules up as they go along - and the rules they make up are ALWAYS to their own benefit, and ALWAYS at a cost to you and I.

Hell, they don't even have to pay for their own hefty mistakes - it's all win-win for them.

I hate banks. And insurance companies are equally as bad.

I just saw my monthly statement from Regions Bank and I had a $10 monthly fee that has never appeared before. I called the Customer Service # and was a bit surprised to hear a recorded message that stated that as of now, the $4 Debit card fees have been canceled and anyone charged for it in last few months would be reimbursed. Great news I thought! The banks have paid a little attention.

So, next I inquire about the $10 fee and it looks like they did away with the $4 Debit card fee but changed their account requirements last month to maintain a $1500 balance where I never had that restriction before. Or, you could have large direct deposits to your account to avoid the fee. So I guess now I'm going to be penalized because I choose to go to the bank to deposit my check and they will now charge me a fee to have a person interact with me vs. having a computer do it. I told the representative I was closing my account and moving it to a bank who didn't charge to interact with an employee for my transactions. She said very cheerily "thank you for calling!"