{"id":328,"date":"2011-10-02T16:09:14","date_gmt":"2011-10-02T16:09:14","guid":{"rendered":"https:\/\/eagleoneresources.com\/?p=328"},"modified":"2011-10-02T16:09:48","modified_gmt":"2011-10-02T16:09:48","slug":"328","status":"publish","type":"post","link":"https:\/\/eagleoneresources.com\/?p=328","title":{"rendered":"Major Banks Plan to Charge Fees for Using Your Debit Card"},"content":{"rendered":"
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News reports on Friday, September 30th<\/sup>, indicated that several major banks were planning to begin charging customers a monthly fee for using debit cards.\u00a0 These fees could be as high (at least for NOW) as $5 each month.\u00a0 That\u2019s $60 each year!<\/p>\n

After spending years and millions of dollars convincing customers that using a debit card was THE way \u2026 fast \u2026 convenient \u2026 easy \u2026 to pay for purchases at the grocery store, gas station, dry cleaners, and every other merchant with a swipe machine at the register, now the banks want to charge you, the consumer, for the privilege of spending your<\/span> own<\/span> money.\u00a0 The bankers have decided that they aren\u2019t making enough money by charging the merchants for this service.\u00a0 Now, they want to dig into your wallet, too!<\/p>\n

I\u2019m confident that the bankers will tell you that you really have no alternatives \u2026 you can\u2019t slow down or stop the wheels of commerce from turning.\u00a0 However, I\u2019m going to suggest that you DO<\/em><\/strong> have options.\u00a0 They are \u2026<\/p>\n

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  • Pay Cash \u2013<\/strong> the commercials will try to convince you that the use of real money (rather than plastic) will cause the wheels of commerce to come to a screeching halt if you don\u2019t swipe your card.\u00a0 That\u2019s OK!\u00a0 It\u2019s YOUR money and you have the right to spend it in whatever manner is best for you.\u00a0 If you aren\u2019t in the habit of carrying cash, the good news is that, at least for now, the bankers aren\u2019t planning to charge you for withdrawing your money from your own bank\u2019s ATM\u2019s.\u00a0 Rather than getting charged for swiping your card through the merchant\u2019s machine, get your cash from you own bank\u2019s ATM and pay cash.\u00a0 This saves both you and the merchants money \u2026 and lower merchant expenses could lead to lower prices.\u00a0 Don\u2019t believe me?\u00a0 Look at the gas stations that charge one price for their gasoline if you pay with cash and a higher price if you pay with a credit card \u2026 and, in some cases, with a debit card!<\/li>\n
  • Change banks \u2013<\/strong> yes, it is inconvenient; but, as a consumer, you have a right to demonstrate your genuine displeasure with your bank\u2019s new policy.\u00a0 Vote with your feet, and with your money, by taking your business to a bank that values your business and doesn\u2019t feel compelled to squeeze every last penny out of your pocket in order to enrich its stockholders.<\/li>\n
  • Join a Credit Union \u2013<\/strong> credit unions are not-for-profit financial institutions that are owned by their members and operated for the benefit of those members.\u00a0 Traditionally, credit unions have avoided many of the fees that traditional banks have charged and kept costs low for their members.\u00a0 Many credit unions offer the same services as their traditional banking counterparts but charge lower, more reasonable, fees \u2026 in some cases, services are provided without the imposition of (yet another) fee.<\/li>\n<\/ul>\n

    Yes, you do have choices \u2026 but only if you are willing to make the changes that are necessary in order to send a message to your banker<\/p>\n","protected":false},"excerpt":{"rendered":"

    News reports on Friday, September 30th, indicated that several major banks were planning to begin charging customers a monthly fee for using debit cards.\u00a0 These fees could be as high (at least for NOW) as $5 each month.\u00a0 That\u2019s $60 each year! After spending years and millions of dollars convincing customers that using a debit […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":"","footnotes":""},"categories":[36,37,13,35,39],"tags":[],"class_list":["post-328","post","type-post","status-publish","format-standard","hentry","category-banking","category-checking-accounts","category-money-management","category-personal-finances-2","category-saving-money-personal-finances-2"],"_links":{"self":[{"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/posts\/328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=328"}],"version-history":[{"count":2,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/posts\/328\/revisions"}],"predecessor-version":[{"id":330,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/posts\/328\/revisions\/330"}],"wp:attachment":[{"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}