DS receives a letter from his bank saying they'll be charging a monthly maintenance fee on his checking account unless he keeps $1,500 balance and/or uses his debit card 10x/mo. He's a 17-year old getting ready for college; he can't tie up that much just to avoid fees. He pays cash for everything except gas (2x/mo) and his car insurance (2x/yr) so he'll never meet the 10x/mo debit card transactions. He's changing banks this week.
His employer pays via a money network debit card, urging employees to use that for all their purchases to make their lives more "convenient". It takes an extra step for him to go online, transfer those funds to his savings account; if he didn't, he could potentially be carrying that debit card with thousands of $ on it rather than having those funds safely in the bank. What is the mentality of these institutions? Good thing he understands just how ludicrous this is!
Asked by Anonymous at 1:55 PM on Nov. 9, 2010 in Money & Work
Answer by chica679 at 1:59 PM on Nov. 9, 2010
Answer by older at 1:59 PM on Nov. 9, 2010
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Answer by Candi1024 at 2:37 PM on Nov. 9, 2010