Can You BELIEVE Well Fargo Is Going to...

...charge you for using your debit card? That's what they announced the other day. They are going to experiment in 5 states, Nevada, Virgina and 3 others. They are going to charge you $3 or so a month for using your card. Chase is going to try and do the same thing! I'd close my account there if I were you!

Here are the states that want to charge .... Oregon, New Mexico, Nevada, Georgia and Washington. Just close your account and go to a smaller, independent bank. Or just threaten to if you are a high roller like Bags. Maybe they will give you a passport if you decide to keep your millions with them.

I'll bet it doesn't work.

What's three bucks when you dont mind spending all that money on Sharlene!

loyd, are you trying to start trouble? lol

Seriously, complaining about a $3 fee when $1000's go into a machine or a _ _ _ _ _ that screwed you.

Those sons-a-bitches ! ! !

Why would they do this?

Oh, wait, . . . the money-guys over at US News already know why. Somethin' to do with lost revenues 'cause of some new sorta rules, . . . and unintended consequences, . . . or something.

Of course I know DD is old enough to remember when the Bankers told us back in the 1970s that using ATM's wasn't going to eliminate jobs it was just going to make things more convenient for the customers. Of course we know now what happened: the banks replaced a lot of tellers with ATMs and started closing earlier. Not only that but they also started charging fees for using the the ATM's even though the ATMs cut their costs rather drastically.

I'd say the slimy bastards are just greedy and any cost increase no matter how insignificant is passed along to the consumers while any cost savings is passed on to the shareholders. I'd send them a nice letter telling them to GFT.

My bank charges $1 a month.
I don't consider it unreasonable for the convenience of ATM any time day or night.

Are you speaking of the ATM charges for each withdrawal?
That's something else again.

Candy, I believe they're talking about when you use your debit card to make a purchase -- not when you use it to withdraw money from an ATM. They already charge fees for using the ATM.

Thanks, Sue. That would be a bummer.
I don't use mine as a debit card, so I don't know how that works here.

The highest rated banks in the world are located in our neighbor to the North and they have far stricter regulations than anything Dodd/Frank imposes on our banks. Funny thing - they seem to be lending and investing a whole lot more than our banks...largely because they have a business model that revolves around regulated, legitimate lending and banking as oppossed to loan sharking off subprime credit holders, hidden fees, and balloon mortgaging like our banks (ie) Wells Fargo.

PS - The new Consumer Protection agency was designed to address the very kinds of abuses Wells Fargo is now thinking of imposing. That agency is from the government and they are here to help...just as soon as they can get past the filibustering of its appointments and defunding attempts of its Wall Street opponents in Congress. But some people prefer a banking industry of legalized loan sharking despite the fact that very system has collapsed twice in a period of 2 decades.