Showing posts with label fees. Show all posts
Showing posts with label fees. Show all posts
Sunday, November 4, 2012
Saturday, October 1, 2011
Banks to Start Charging Fees To Use Your Debit Card
...as a debit card
Bank of America will start charging debit-card users $5 a month to pay for purchases. The move comes as the cards increasingly replace cash and as banks look for ways to offset the loss of revenue from a new rule that will limit how much they can collect from merchants.
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Paying to use a debit card was unheard of before this year and is still a novel concept for many consumers. But several banks have recently introduced or started testing debit card fees. That's in addition to the spate of other unwelcome changes checking account customers have seen in the past year. Bank of America will begin charging the fee early next year.
Bank of America's announcement carries added weight because it is the largest U.S. bank by deposits.
The fee will apply to basic accounts, which are marketed toward those with modest balances, and will be in addition to any existing monthly service fees. For example, one such account charges a $12 monthly fee unless customers meet certain conditions, such as maintaining a minimum average balance of $1,500.
Customers will only be charged the fee if they use their debit cards for purchases in any given month, said Anne Pace, a Bank of America spokeswoman. Those who only use their cards at ATMs won't have to pay.
The debit card fee is just the latest twist in the rapidly evolving market for checking accounts.
A study by Bankrate.com this week found that just 45 percent of checking accounts are now free with no strings attached, down from 65 percent last year and 76 percent in 2009. Customers can still get free checking in most cases, but only if they meet certain conditions, such as setting up direct deposit.
The study also found that the total.. Continue to the rest of the article..
Source
Bank of America will start charging debit-card users $5 a month to pay for purchases. The move comes as the cards increasingly replace cash and as banks look for ways to offset the loss of revenue from a new rule that will limit how much they can collect from merchants.Image Source
Paying to use a debit card was unheard of before this year and is still a novel concept for many consumers. But several banks have recently introduced or started testing debit card fees. That's in addition to the spate of other unwelcome changes checking account customers have seen in the past year. Bank of America will begin charging the fee early next year.
Bank of America's announcement carries added weight because it is the largest U.S. bank by deposits.
The fee will apply to basic accounts, which are marketed toward those with modest balances, and will be in addition to any existing monthly service fees. For example, one such account charges a $12 monthly fee unless customers meet certain conditions, such as maintaining a minimum average balance of $1,500.
Customers will only be charged the fee if they use their debit cards for purchases in any given month, said Anne Pace, a Bank of America spokeswoman. Those who only use their cards at ATMs won't have to pay.
The debit card fee is just the latest twist in the rapidly evolving market for checking accounts.
A study by Bankrate.com this week found that just 45 percent of checking accounts are now free with no strings attached, down from 65 percent last year and 76 percent in 2009. Customers can still get free checking in most cases, but only if they meet certain conditions, such as setting up direct deposit.
The study also found that the total.. Continue to the rest of the article..
Source
Tuesday, March 9, 2010
Subscriber Fees List Shows What You Pay For Cable Channels
After the spat between Cablevision and Disney invaded the Oscar telecast last Sunday, the fees channels charge cable companies (who then pass them along to you) have come into the spotlight. All Things Digital posted a list from industry analyst SNL Kagan that shows the wholesale prices each channel charges cable companies for their product.
The list is making the rounds as fodder for a la carte cable activists. It makes it very apparent how much of your bill goes to sports programming -- which tends to irritate people who hate sports. Alternatively, you can study the list and count how many stupid makeover shows you are unwillingly paying for.
Keep in mind these are wholesale prices, cable companies obviously mark-up the prices, profit, etc. Meanwhile, it seems that the whole ABC/Cablevision was just a dress rehearsal for the real showdown: Time Warner Cable vs. ABC. Look for that to get crazy in August as TWC's deal expires.
Hate Paying for Cable? - Here’s Why [All Things Digital]:
Click to enlarge..
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