Banks charging fees on unemployment benefits
The news that banks such as Bank of America, who have contracted with states to provide unemployment benefits via pre-paid debit cards, are charging customers unreasonable fees for requesting information on using the cards or for using them more than once a day, doesn't surprise me.
I left Bank of America after they talked me into switching to direct deposit "for convenience" during one very busy Friday lunch hour bank run, and then charged me multiple overdraft fees because they weren't running direct deposits until the end of business on Friday, resulting in the checks not clearing until Monday.
Bank of America excels at such sneaky "nickel and dime" tactics.
It's standard business with most banks today (thankfully my current bank, Wells Fargo, explained all their fees straight up the first time I questioned them about an overdraft, which they reversed, and I've had no problems with them since) and a major source of bank revenue.
However in our current economic climate, where an untanticipated $1.50 withdrawal fee could mean the difference between a kid having lunch money or going hungry, it's downright criminal to saddle those struggling to get back on their feet with such random fees and charges.
Keep on charging exorbitant fees on platinum card purchases if you must, but leave our unemployed alone (oh wait... only people who already have money can get platinum cards, and we can't take their money, that wouldn't be fair, nevermind... Keep sticking it to the poor. It's not like they can afford to hire a lawyer to challenge you anyway, right?)
I left Bank of America after they talked me into switching to direct deposit "for convenience" during one very busy Friday lunch hour bank run, and then charged me multiple overdraft fees because they weren't running direct deposits until the end of business on Friday, resulting in the checks not clearing until Monday.
Bank of America excels at such sneaky "nickel and dime" tactics.
It's standard business with most banks today (thankfully my current bank, Wells Fargo, explained all their fees straight up the first time I questioned them about an overdraft, which they reversed, and I've had no problems with them since) and a major source of bank revenue.
However in our current economic climate, where an untanticipated $1.50 withdrawal fee could mean the difference between a kid having lunch money or going hungry, it's downright criminal to saddle those struggling to get back on their feet with such random fees and charges.
Keep on charging exorbitant fees on platinum card purchases if you must, but leave our unemployed alone (oh wait... only people who already have money can get platinum cards, and we can't take their money, that wouldn't be fair, nevermind... Keep sticking it to the poor. It's not like they can afford to hire a lawyer to challenge you anyway, right?)