homepage Welcome to WebmasterWorld Guest from 54.145.209.80
register, free tools, login, search, pro membership, help, library, announcements, recent posts, open posts,
Become a Pro Member

Home / Forums Index / Local / Foo
Forum Library, Charter, Moderators: incrediBILL & lawman

Foo Forum

    
Expect Even More Fees From Banks This Year
lawman

WebmasterWorld Administrator lawman us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 4250924 posted 10:28 am on Jan 9, 2011 (gmt 0)

Banks are considering additional fees on credit cards and checking accounts. But they also are looking at new ways to make money on cash machines and especially debit cards as regulators pinch the cards' conventional revenue streams.

Banks are thinking about imposing annual fees of $25 or $30 on debit cards, according to people familiar with bank strategies. Some also are considering limiting the number of debit-card transactions that a customer can make each month, these people say. Another idea circulating in the industry: limiting the size of a purchase that a customer could make with a debit card.



[online.wsj.com...]

Why don't banks return to making money the old fashioned way - earn it.

 

martinibuster

WebmasterWorld Administrator martinibuster us a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month



 
Msg#: 4250924 posted 10:46 am on Jan 9, 2011 (gmt 0)

CitiBanks traditional branch earnings were a fraction of their traditional banking activities. From the November 29th New Yorker Magazine:

Between January and September, Citigroup's bond traders alone generated more than twelve and a half billion dollars in revenues- more than the bank's entire branch network in North America.


Your checking and savings account is a drag on their profit margin stats. To paraphrase Larry Ellison, it's not enough that the banks win a profit on your capital, you have to lose your shirt. ;)

skibum

WebmasterWorld Administrator skibum us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 4250924 posted 5:21 am on Jan 10, 2011 (gmt 0)

It's a good thing the tax payers bailed these guys out. A bunch of smaller banks competing for business would be a lot better than a handful determined to gamble recklessly and have the market power to keep increasing fees. The ATM fees are already getting crazy, esp while traveling. Seems some spots will only let you take out $200 for which you have to cough up at least $2.00 the the machine that owns the bank and your bank if they don't own the ATM.

Pretty soon you'll have to travel with a vault in the car to hold cash to avoid 1% - 5% of your cash paying for an account and access to it. Even some of the pre-paid cards where you give the bank a free loan carry hefty fees with them.

engine

WebmasterWorld Administrator engine us a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month



 
Msg#: 4250924 posted 12:48 pm on Jan 10, 2011 (gmt 0)

I've often thought, especially in recent years, there ought to be a nationalised bank for the people, with the objective of covering their costs, making loans, driving profit for savers, not solely shareholders.

If it costs money to process something, then there should be a charge for it, covering the cost, plus a little to help feed the savers.

The Philanthropic Bank.

weeks

WebmasterWorld Senior Member 5+ Year Member



 
Msg#: 4250924 posted 1:25 pm on Jan 10, 2011 (gmt 0)

I've often thought, especially in recent years, there ought to be a nationalised bank for the people, with the objective of covering their costs, making loans, driving profit for savers, not solely shareholders.

If it costs money to process something, then there should be a charge for it, covering the cost, plus a little to help feed the savers.


Please check into your local credit unions.

Global Options:
 top home search open messages active posts  
 

Home / Forums Index / Local / Foo
rss feed

All trademarks and copyrights held by respective owners. Member comments are owned by the poster.
Home ¦ Free Tools ¦ Terms of Service ¦ Privacy Policy ¦ Report Problem ¦ About ¦ Library ¦ Newsletter
WebmasterWorld is a Developer Shed Community owned by Jim Boykin.
© Webmaster World 1996-2014 all rights reserved