Unemployment debit cards being charged by banks! Here ya go guys!!

[opiemaster]

Ok, I dont know how to exactly copy this so I will do it best I can.
Of you are unemployed, (as I am) and have one of those new unemployment debit cards, ( which I DONT)! BANK of AMERICA( yea right), Citi Group Inc (this means ANY bank that starts with CITI), JP Morgan Chase, and U.S.Bank Corp. They are charging you $.50 per transaction PLUS they will charge you $.50 to DECLINE the transaction!!!!!!!!!!!
The banks AND credit card companies make 1 to 3% off the TOP of each transaction made with the cards (According to the associated press)

" The banks say there programs offer convenience. They also offer atleast one way to tap the money at no charge, such as using a single fee withdraw to get all the cash at once from a bank teller. But the banks benefit from human nature, as people end up treating the cards like all other plastic in there wallet", (quoted from the associated press).
In Missouri ( the state where I live and collect my unemployment) 99,483 people claimed there unemplotment benefits through debit cards from "Central Bank". Analysyts say a recipient uses a card 6 to 10 times a month. If each card holder makes a with drawl from an out of network ATM at a fee of $1.75 ,the bank would collect nearly $500,000. According to the Associated press. The banks could make over $6.3 million a year off of people drawing unemployment!!!!!!!
Use automatic deposit, set up a bank account and have it deposited automatically (As I Do) dont let these banks take another dime from us. Dont trust these BIG name banks! Deal with credit unions and small town banks! CASH is KING!! live with what you have!! Please its in your best interest!!
( Umm this is where the disclaimer goes for doing any unautherized quotes which I have no frekin idea of how to do. I dont want to discredit anyone, just relay the facts like my father in -law has sexwithsheepand criiters and such and lives in upstate New York so whatever.

 

[On Our own]

Yes, I read this too and it made my blood boil. D*%$#^ robbers!!!

The idea makes me SO angry

But, I got even angrier when I thought about the fact that some one in gov't approved this bull puckey!


People are broke so lets nickle and dime them to death! Lets give that gov't money right back to the people who need it the least!

 

[reinbeau]

We have direct deposit here in MA - so the money goes into your account and you can use your own debit card. I would never, ever, ever, (did I say ever?) do business with Bank of America, or Citibank, or any of the other large banks that charge outrageous fees. I've been with my credit union since I was 17 - that's 36 years for those who are counting - why have I stayed there? Because they know who I am, call me my name, hold their own mortgages (no subprime disasters here), if I need money for anything they lend it to me because they know I'll pay it back. They charge very few fees at all, I never pay any, because of the way I do my banking. They are a pleasure to deal with. It's the way a bank should operate. I despise the business practices of the larger banks.

 

[VT-Chicklit]

Opiemaster, this started several years ago in New York. I had been laid off from my employer who was in New York. I lived just over the border in Vermont from this employer. For the first 3 months I received my check in the mail and filed my weekly work report on line because I was considered an out of state worker, then all of a sudden I did not receive my check. I waited a week (thought it might be late) before calling Unemployment. I was told it was now being issued thru a debit card. I had never been notified of the change and had never been sent a debit card. The card was issued thru a bank that had no branches anywhere in the area and there were those pesky charges to get your money. I couldn't even get direct deposit. I finally got the card and then transferred (using my one free transfer per period) the money to an account at my bank. It was a real nusance.

 

[Wifezilla]

I agree...credit unions are the way to go. Been with mine for almost 20 years.

 

[DrakeMaiden]

For those who aren't aware, anytime you use a debit or credit card, the bank profits by 1-3% of the purchase price . . . it typically comes out of the merchant's wallet and so it is typically included in the cost of goods. So those of you who pay cash consistently (like I do) you are paying inflated prices on everything you buy. I've heard that some gas stations were giving discounts for cash purchases, because of this, back when fuel prices were so high. I wish stores would generally give discounts to cash-paying customers.

 

[reinbeau]

Here in Massachusetts it is illegal to treat credit card purchases any different than cash purchases, so they couldn't offer a discount for cash. I think that's true now in quite a few states. They want us using credit cards, not cash. They want to push the use of credit, that way we spend more (well, people who are easily lead, those of us who read this forum are smarter than they are!) than we have, it's become The American Way

 

[hoosier]

It is my understanding that in Indiana, you HAVE to get your benefits on a debit card. Our bank said you get one withdrawl/week for free - others were $.50 or $1 - I don't remember.
My husband was downsized on Jan 9 and we have yet to receive a single dollar in unemployment benefits. His company did not give him his final check on his last day, but mailed it later. The state has the date of the mailing as his last date of employment and have yet to correct their files. I understand that there are a lot of claims. Perhaps they could hire a few of the unemployed to deal with this.

 

[Big Daddy]

When we owned a business we of course took charge cards. It's funny to hear your perspective that it increases the cost of goods. I always looked at it as decreasing my profit margin. On top of that you have to wait a few days to get credited.

 

[SKR8PN]

I have never,and will never, accept credit/debit cards in my auto repair business. I REFUSE to give those thieving bastards a DIME of my or my customers money. Cash and checks still work just fine around here!