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View Diary: The big banks aren't done screwing you over (181 comments)

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  •  ATM fees... (13+ / 0-)

    If you travel domestically, you may think a national bank is better because you can find one of their branches and avoid ATM fees.  However, most credit unions are on their own network - the 'Co-op' network.  This means that if you find an ATM on that network, there are no transaction fees.  Also I have found that at least within state, credit unions will allow you to do basic transactions inside (deposit checks, pay bills) even if you don't belong to that credit union.  Basically, the argument that a national bank provides broader services is bullshit.

    The 'Free Market' will decide. It will decide that the United States cannot consume 25% of the world's resources and the upper 1% cannot control 50% of the wealth.

    by RichM on Mon Nov 14, 2011 at 12:19:45 PM PST

    •  The small local bank (7+ / 0-)

      that I just moved to actually refunds you the atm fees incurred if you use another bank's atm.  So if I use a BofA atm and they charge me $3, my bank (Mechanics) refunds me that $3.

      Obama is not a dark-skinned anti-war socialist who offers free healthcare. You're thinking of Jesus.

      by DMiller on Mon Nov 14, 2011 at 01:17:43 PM PST

      [ Parent ]

      •  Still shouldn't do it (2+ / 0-)
        Recommended by:
        RichM, NM Ward Chair

        as you are, in the end, providing $3 to BofA. It's just coming out of your local bank's pocket, thus slimming their profit margins and driving them closer to losing their shirts (or forcing them to increase fees to make up for it).

      •  My bank refunds the fees too (1+ / 0-)
        Recommended by:
        NM Ward Chair

        But if I must use another bank, I try to use a small bank or credit union's ATM, I'd rather not have that fee go to BoA or another TBTF bank.

        TEABAGGER: Totally Enraged About Blacks And Gays Getting Equal Rights

        by yg17 on Mon Nov 14, 2011 at 05:35:06 PM PST

        [ Parent ]

        •  ATM fee rebates: choosing ATM's (0+ / 0-)

          I have had an account with Schwab Bank for several years; they refund all the ATM fees. However, since I opened my account with them, I made a point of not using ATM's belonging to certain banks because of their business practices. I didn't care whose money was ultimately going to pay the ATM fee; I just did not want that particular bank to get a fee.

          I specifically shunned TCF's ATM's for this reason because of their love for charging fees (including about 20 years ago when they charged fees for all ATM usage, including use of their own machines); I shunned their machines because their CEO, Bill Cooper, was also the chair of the Republican Party of Minnesota.

    •  Good to know. (4+ / 0-)

      I'm still (ashamedly) a BofA customer; and the biggest reason for that is convenience.  Of all of the banks/CUs on the Move Your Money website, not one of them has an ATM convenient to my home or office.   I don't withdraw cash often, but I do need the convenience of easy deposits.  I'm still looking for the best CU solution.

      You can't spell CRAZY without R-AZ.

      by rb608 on Mon Nov 14, 2011 at 01:34:41 PM PST

      [ Parent ]

    •  Plus, you can always use cashback tills. (1+ / 0-)
      Recommended by:
      NM Ward Chair

      Buy a soda or a sandwich at a grocery, get $50 back using the debit card.  No fees.

    •  The co-op network ATMs (1+ / 0-)
      Recommended by:

      Can be found in McDonalds and 7-11s. At least my CU uses them. Do others?

      •  Yup... (0+ / 0-)

        I noticed that many 7-11's are on the list of Co-op networks.  Doesn't get more convenient than that...

        The 'Free Market' will decide. It will decide that the United States cannot consume 25% of the world's resources and the upper 1% cannot control 50% of the wealth.

        by RichM on Tue Nov 15, 2011 at 08:20:43 AM PST

        [ Parent ]

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