Tippmann Pneumatics Inc. Homepage
  FAQ FAQ  Forum Search   Register Register  Login Login

Bank of America

 Post Reply Post Reply Page  12>
Author
impulse418 View Drop Down
Gold Member
Gold Member
Avatar

Joined: 25 November 2010
Location: Phx, AZ
Status: Offline
Points: 1650
Post Options Post Options   Thanks (0) Thanks(0)   Quote impulse418 Quote  Post ReplyReply Direct Link To This Post Topic: Bank of America
    Posted: 06 October 2011 at 5:02am
So there has been a lot of chatter, online, and on the streets. About BofA's controversial, $5 a month fee.

Anyone planning on switching to a smaller bank?

I feel sorry for businesses, seeing as everyone will opt to choose "credit" on their debit card.


Back to Top
choopie911 View Drop Down
Platinum Member
Platinum Member
Avatar
Commie Canuck

Joined: 01 June 2003
Location: Canada
Status: Offline
Points: 30745
Post Options Post Options   Thanks (0) Thanks(0)   Quote choopie911 Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2011 at 5:02am
So crappy/ dumb
Back to Top
Lightningbolt View Drop Down
Platinum Member
Platinum Member
Avatar
PHAT and PLAT

Joined: 10 July 2002
Location: Dean's List
Status: Offline
Points: 4884
Post Options Post Options   Thanks (0) Thanks(0)   Quote Lightningbolt Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2011 at 5:59am
I've done alot of recent work for them in the housing industry.  They are losers.
Sent from a phone booth
Back to Top
agentwhale007 View Drop Down
Platinum Member
Platinum Member
Avatar
Forum's Vladimir Lenin

Joined: 20 June 2002
Location: GNV FLA
Status: Offline
Points: 11696
Post Options Post Options   Thanks (0) Thanks(0)   Quote agentwhale007 Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2011 at 8:37am
Switching to smaller banks and credit unions might not help. 

The $5 fee, as well as all the other fees other banks are testing, is from the Durbin Amendment, which largely capped the fees that banks can charge businesses for processing debit card information. 

It was a good thing for small businesses, as they don't have to pay those fees to the banks anymore.

But, because the businesses are not paying anymore, the customer has to pay. In a theoretical world, the businesses would have dropped their prices a certain percentage to match the fees they are no longer paying, but that's not really how our markets work. 

The larger banks are implementing the fees early to appease share holders and buffer the impact of not collecting those fees from businesses. The credit unions and small banks can probably hold out a lot longer on charging debit card usage fees, because they're either not concerned with profit nearly as much or operating as a not-for-profit, but they'll still have to charge eventually to make up those costs. 

"So when Romney wins in a landslide, what will the liberal media do?"
This Ma**edited**hine Kills **edited**as**edited**ists.




Back to Top
jmac3 View Drop Down
Platinum Member
Platinum Member
Avatar
Official Box Hoister

Joined: 28 June 2004
Status: Offline
Points: 9201
Post Options Post Options   Thanks (0) Thanks(0)   Quote jmac3 Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2011 at 9:18am
I love my credit union so I don't care I would pay them $5 a month. Especially since they dont charge me anything ever, and participate in SUM ATMs. Meaning no service charge at a bunch of ATMs. Bank of America or citizens? Hell no they suck.

I use my debit as credit anyway since they give me rewards points.
Que pasa?


Back to Top
ParielIsBack View Drop Down
Platinum Member
Platinum Member
Avatar
future target of fratricide

Joined: 13 October 2008
Status: Offline
Points: 3782
Post Options Post Options   Thanks (0) Thanks(0)   Quote ParielIsBack Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2011 at 10:26am
I didn't realize it was directly related to that Whale, although I'd hear it was related to the recent regulatory changes.

I would consider a credit union sometime in the future (ie: when I have enough money that it might be worth my time to switch).  But right now BoA's massive number of locations is a huge plus since I split my time between Boston and NJ.
BU Engineering 2012
Back to Top
StormyKnight View Drop Down
Platinum Member
Platinum Member
Avatar

Joined: 28 July 2003
Location: United States
Status: Offline
Points: 2980
Post Options Post Options   Thanks (0) Thanks(0)   Quote StormyKnight Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2011 at 10:37am
Bank of America debit card cancelled and accounts closed as of last Monday.  Put everything back into my credit union and got my new debit card on Wednesday.  Thank you Senator Durbin, douchebag supreme.
Back to Top
mbro View Drop Down
Platinum Member
Platinum Member
Avatar
Original Forum Gangster

Joined: 11 June 2002
Location: Isle Of Man
Status: Offline
Points: 10743
Post Options Post Options   Thanks (0) Thanks(0)   Quote mbro Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2011 at 11:17am
Originally posted by agentwhale007 agentwhale007 wrote:

The credit unions and small banks can probably hold out a lot longer on charging debit card usage fees, because they're either not concerned with profit nearly as much or operating as a not-for-profit, but they'll still have to charge eventually to make up those costs. 
Nope, banks with under 10 billion in holdings are exempt from the new fees.

Don't blame me, I voted for Kodos.
Back to Top
agentwhale007 View Drop Down
Platinum Member
Platinum Member
Avatar
Forum's Vladimir Lenin

Joined: 20 June 2002
Location: GNV FLA
Status: Offline
Points: 11696
Post Options Post Options   Thanks (0) Thanks(0)   Quote agentwhale007 Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2011 at 11:52am
Originally posted by mbro mbro wrote:

 Nope,

Chuck Testa? 


Quote banks with under 10 billion in holdings are exempt from the new fees.

I wasn't aware there were "fees" as a part of the regulation, just that banks couldn't charge businesses for debit processing. 

Then again I haven't read the actual thing so I'm probably wrong. 
"So when Romney wins in a landslide, what will the liberal media do?"
This Ma**edited**hine Kills **edited**as**edited**ists.




Back to Top
mbro View Drop Down
Platinum Member
Platinum Member
Avatar
Original Forum Gangster

Joined: 11 June 2002
Location: Isle Of Man
Status: Offline
Points: 10743
Post Options Post Options   Thanks (0) Thanks(0)   Quote mbro Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2011 at 4:12pm
Originally posted by agentwhale007 agentwhale007 wrote:


Originally posted by mbro mbro wrote:

 Nope,
Chuck Testa? 
Quote banks with under 10 billion in holdings are exempt from the new fees.

I wasn't aware there were "fees" as a part of the regulation, just that banks couldn't charge businesses for debit processing. 
Then again I haven't read the actual thing so I'm probably wrong. 
The regulation lowered what big banks could charge, smaller banks can still charge the 44 cents.

Don't blame me, I voted for Kodos.
Back to Top
agentwhale007 View Drop Down
Platinum Member
Platinum Member
Avatar
Forum's Vladimir Lenin

Joined: 20 June 2002
Location: GNV FLA
Status: Offline
Points: 11696
Post Options Post Options   Thanks (0) Thanks(0)   Quote agentwhale007 Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2011 at 4:46pm
Originally posted by mbro mbro wrote:

 The regulation lowered what big banks could charge, smaller banks can still charge the 44 cents.

Now I know, half the battle, etc. 
"So when Romney wins in a landslide, what will the liberal media do?"
This Ma**edited**hine Kills **edited**as**edited**ists.




Back to Top
impulse418 View Drop Down
Gold Member
Gold Member
Avatar

Joined: 25 November 2010
Location: Phx, AZ
Status: Offline
Points: 1650
Post Options Post Options   Thanks (0) Thanks(0)   Quote impulse418 Quote  Post ReplyReply Direct Link To This Post Posted: 07 October 2011 at 2:30am

Back to Top
Lightningbolt View Drop Down
Platinum Member
Platinum Member
Avatar
PHAT and PLAT

Joined: 10 July 2002
Location: Dean's List
Status: Offline
Points: 4884
Post Options Post Options   Thanks (0) Thanks(0)   Quote Lightningbolt Quote  Post ReplyReply Direct Link To This Post Posted: 07 October 2011 at 6:13am

I was in the midst of dealing with Countrywide foreclosures when  Bank of America swallowed them up.

Thanks for the graph thingy.  Very informative    



Edited by Lightningbolt - 07 October 2011 at 6:16am
Sent from a phone booth
Back to Top
DeTrevni View Drop Down
Platinum Member
Platinum Member
Avatar
b-YOU-ick. Was that so hard?

Joined: 19 September 2005
Location: Houston, Texas
Status: Offline
Points: 11763
Post Options Post Options   Thanks (0) Thanks(0)   Quote DeTrevni Quote  Post ReplyReply Direct Link To This Post Posted: 07 October 2011 at 6:35am
I've got Wells Fargo. No major gripes thus far.
Evil Elvis: "Detrevni is definally like a hillbilly hippy from hell"

Back to Top
Lightningbolt View Drop Down
Platinum Member
Platinum Member
Avatar
PHAT and PLAT

Joined: 10 July 2002
Location: Dean's List
Status: Offline
Points: 4884
Post Options Post Options   Thanks (0) Thanks(0)   Quote Lightningbolt Quote  Post ReplyReply Direct Link To This Post Posted: 07 October 2011 at 6:47am

^you do Wells Fargo foreclosure work?  I deal with that bankster too.

You would think that these mega banks would have some kind of interest bearing escrow account for us in the foreclosure business as they dig deep into our pockets while we assist them in reducing THEIR massive overhead with OUR money.  crooks...

I still enjoy doing my personal banking with the local credit union.



Edited by Lightningbolt - 07 October 2011 at 6:54am
Sent from a phone booth
Back to Top
Rofl_Mao View Drop Down
Platinum Member
Platinum Member
Avatar
request denied

Joined: 27 October 2008
Location: Canada
Status: Offline
Points: 3192
Post Options Post Options   Thanks (0) Thanks(0)   Quote Rofl_Mao Quote  Post ReplyReply Direct Link To This Post Posted: 07 October 2011 at 8:10am
Back to Top
agentwhale007 View Drop Down
Platinum Member
Platinum Member
Avatar
Forum's Vladimir Lenin

Joined: 20 June 2002
Location: GNV FLA
Status: Offline
Points: 11696
Post Options Post Options   Thanks (0) Thanks(0)   Quote agentwhale007 Quote  Post ReplyReply Direct Link To This Post Posted: 07 October 2011 at 9:18am
I would put all of money money into the First National Bank of Nyah. 
"So when Romney wins in a landslide, what will the liberal media do?"
This Ma**edited**hine Kills **edited**as**edited**ists.




Back to Top
tallen702 View Drop Down
Platinum Member
Platinum Member
Avatar
Strike 1 - Swearing on Facebook

Joined: 10 June 2002
Location: Under Your Bed
Status: Offline
Points: 10949
Post Options Post Options   Thanks (0) Thanks(0)   Quote tallen702 Quote  Post ReplyReply Direct Link To This Post Posted: 07 October 2011 at 4:44pm
After dealing with two large scale banks that tried every conceivable way (including not adhering to GAAP standards) to screw me out of my money that I had entrusted to them, I went back to banking locally. I've got a live person 24-7 to answer any questions I have. The branch managers have power to take care of virtually ANYTHING without having to go higher up the chain of command, I'm issued a debit card on-the-spot whenever my old one goes bad, or I set up a new account. I'm not charged for their, or any other, ATMs. No minimum balance required, I get VISA rewards for using my debit card, the list goes on and on.
Back to Top
Linus View Drop Down
Platinum Member
Platinum Member
Avatar
Strike 1 - language 6.29.10

Joined: 10 November 2002
Location: United States
Status: Offline
Points: 7908
Post Options Post Options   Thanks (0) Thanks(0)   Quote Linus Quote  Post ReplyReply Direct Link To This Post Posted: 07 October 2011 at 5:00pm
Just finished switching everything over to USAA (absolutely free checking / savings with no minimums), closed my multiple savings accounts with BoA and will close my checking account after my next direct deposit check arrives, though I hold no balance in the account as of now.


I've had BoA since 2006, never really "screwed over", but it's kind of sad when you judge a bank based off how much you're screwed over. It irks me that I give them my money to hold, they loan it out, and pretty irresponsibly at that, and they pay me back 0.05% for the 'privilege' of letting them use it, plus all the fees they try to push on you. Losing money by keeping it in a bank, really.



Like I said, finally switched everything over to USAA... no minimums, no fees, free ATM usage with ATM fees refunded, etc etc. Only thing I'm keeping open with BoA is my credit card which I've had for 5 years and would rather not hurt my credit score by closing my longest credit line.

Edited by Linus - 07 October 2011 at 5:01pm

Back to Top
deadeye007 View Drop Down
Gold Member
Gold Member


Joined: 12 June 2002
Location: Your Face
Status: Offline
Points: 1250
Post Options Post Options   Thanks (0) Thanks(0)   Quote deadeye007 Quote  Post ReplyReply Direct Link To This Post Posted: 08 October 2011 at 7:08pm
I just closed my last account with Wells Fargo last month. They purchased my bank around the same time as the TARP bailout. My bank had free checking, no ATM fees no matter where the card was used, and they had an automated coin counting machine at every branch. My bank also had great customer service. After Wells Fargo bought the bank, those perks disappeared.
Face it guys, common sense is a form of wealth and we're surrounded by poverty.-Strato
Back to Top
 Post Reply Post Reply Page  12>
  Share Topic   

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 10.03

This page was generated in 0.249 seconds.