I might misinterpret the $3.00 fee imposed by Wells Fargo
By kingparker
@kingparker (9673)
United States
August 20, 2011 11:10pm CST
The news is already out, and I did make a discussion concerning about this $3.00 service fee against our checking account. In anyway, it is not right for those banks to charge us money by opening a checking account with them. Our tax money just wasted to help out those mega giant banks, like JP Morgan and Chase, Bank of America, now Wells Fargo. As matter of fact, with Wells Fargo, they would charge $3.00 against your debit card majorly. When you withdraw money from their ATM, they won't charge you fee. But when you make purchases with your debit cards, then it is when the fee comes in. They have to make the lost profit back from merchants, when the new Federal laws kick in at the beginning of this year. So, since they will charge fee against your debit cards usage at stores or restaurants at the point of purchase, it encourage us to use cash more often then. What do you think of it?
2 responses
@bobmnu (8157)
• United States
30 Aug 11
Under the new consumer financial law these fees are legal. Big Government protecting you.
Consider this the bank pays for the ATM, rents space to place the machine in convenient locations and pays to have someone maintain and fill the machine. If you want to avoid the fee then you are free to change banks, or to get your cash at the branch office near you during normal banking hours. Nobody is forcing you to do business with Wells Fargo or any other bank, it is your choice.
@randylovesdar (4932)
• United States
22 Aug 11
I never liked Wells Fargo to begin with. I had problems with them in the past and they were never helpful. I hope that the bank I am with and the Credit Union I am with will not charge fees. I know back in June our bank was going to start charging a monthly fee if we did not open a savings account. My husband and I ended up avoiding the fee by having our bank take 25.00 out of checking each month and putting it into savings. I think it is terrible that banks will be charging a fee if you use a debit card.


