As a Britain, I declare the entire US consumer banking system bloody stupid.
More seriously, I'm surprised anyone ever got anywhere with the concept of charging people for using their own money, whether through ATM fees or bank charges for using cards. It just seems like something people would be outraged about.
edited 30th Sep '11 11:30:09 AM by Yej
Da Rules excuse all the inaccuracy in the world. Listen to them, not me.The US loves it when corporations charge us for things. It vindicates us having sold our souls to capitalism.
Well, guess I'm closing my BOA account that I keep on the side.
I'd be outraged if it weren't for three things:
- It ain't my bank.
- Even if it was, all I'd miss was a meatball sub.
- My basic cable/internet bill is $100.
If they get away with it, expect all other major banking institutions to follow likewise in the future. And the GOP appear to have been fairly successful at defunding the new consumer protection agency, so it's not like there's anything to stop them.
Furthermore, I think Guantanamo must be destroyed.Before someone comes in and says it, I will. This is actually a result of regulation.
Instead of hidden overdraft fees and other hidden fees, all the fees have to be now in black and white. And it's a good thing on the whole, see Barkey's response above. That's what is supposed to happen.
edited 30th Sep '11 12:24:18 PM by Karmakin
Democracy is the process in which we determine the government that we deserveUgh, i'm tired of the "This is because of regulation!" bull.
Would people rather they just do whatever the fuck they want?
I hope this bites them in the ass like netflix.
I'm glad they're doing this. It gives me a concrete reason to give to my parents when they bug me about switching banks "For no reason"
(apparently fraudulent overdrawn charges and making me pay extra when they lose my ordered checks isn't a good enough reason)
Who builds troper pages?~shrug~
China owns the US Government, while the banks own the US populace.
I'm rescinding my "nationalization is bad!" argument from a few weeks ago. Take these bastards over, now.
I am now known as Flyboy.@Thorn: He's saying regulations are a good thing in this case. Without them, the fees would be hidden, here they're spelled out.
Thorn, it's not bull. It's making them mention the fees up front. So it's a subset of existing regulations (truth in advertisement).
As long as banks have existed, they have charged people to hold their money. The whole "we're going to loan out your money, then give you some of the profits" are the new part. Before that, they were just guards that held shit for you in case you needed it.
Fight smart, not fair.Yeah. I'm in favor of the regulations. Just stating that it is the regulations that triggered this.
For what it's worth, I see massive amounts of hubris and entitlement here. They're going to make their profits, and there's NOTHING we can do to stop it. That's basically what they're saying.
Democracy is the process in which we determine the government that we deserveOh i'm glad the regulations are showing this fee.
The point is that the banks are saying its because of regulations they are doing this in the first place.
Which pisses me off. Thats not the regulation's fault.
.
edited 30th Sep '11 2:41:58 PM by Kino
The thing is, if they thought this fee would be profitable they already would have put it into place.
This is simply spite.
Democracy is the process in which we determine the government that we deserveWhatever makes people realize that the American Banking system is rancid works for me, honestly.
Be a dick and get people to pick someone else to give their money to.
Who builds troper pages?From a purely business perspective, this is going to blow up in their faces. All the other banks have to do is nothing and B of A will lose customers by the busload.
"Allah may guide their bullets, but Jesus helps those who aim down the sights."Fuck, can you really not afford $5 if you're using a debit card anyways?
If you don't like a single Frank Ocean song, you have no soul.It's the principle! I can't understand the huge outrage over the netflix price hike (because here you have to buy DV Ds, most of the time. It's expensive.) but damnit, that's one less little treat to yourself a month, if you want to make up for it...(I have a charge of about €5 a year here.)
Dumboyou know, I have this magical thing that I don't have to pay anyone extra money just to use it. it's called cash.
it's even got an ingenius security system-when someone steals it, they can't spend all my money and put me in debt!
I'm baaaaaaackAn amazing function! too bad that its not accepted when you want to get a hotel room, or if you want to quickly access your cash in your bank.
Very big Daydream Believer. "That's not knowledge, that's a crapshoot!" -Al Murray "Welcome to QI" -Stephen FrySince when? I can walk down to the Double Tree in Colorado Springs (a quite nice hotel to be precise, one of the best in the city), hand them a fist of cash enough for a room, and they'll be like "Here's your key sir".
edited 30th Sep '11 6:02:02 PM by MajorTom
"Allah may guide their bullets, but Jesus helps those who aim down the sights."Its a security thing. You aren't usually allowed to use cash because you could be a fugitive or under an assumed identity.
Of course, I'm working from information several years old so things might've changed.
Very big Daydream Believer. "That's not knowledge, that's a crapshoot!" -Al Murray "Welcome to QI" -Stephen FryHow big is Bank of America?
...
Actually, I'm guessing pretty big. They're not the Bank of America for nothing, right?
How many people are customers?
http://online.wsj.com/article/BT-CO-20110929-709314.html
Guess what bank I'm not using in a year!
Figures, just a month after I get a debit card...