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View Diary: New Bank Fee-for-All: Truly Despicable Charges (111 comments)

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  •  How to avoid the fees on Benefit ATM's (it's easy) (1+ / 0-)
    Recommended by:
    Larsstephens

    You don't have to keep your money in the B of A account.  I know, from years of being poor, you don't DARE bring $250 home in cash, you'd just spend it on stupid things like shoes for your kids and milk.

    You don't have to have any knowledge of how these things work, just go find a good credit union.  The laws have changed, and anyone can join almost any credit union.  I'd pick one that has local government employees - the teachers union, county workers, whatever is near you.  All credit unions are insured, and they're NON-PROFIT, so they only have to charge enough to pay their staff and keep going, they don't need a profit. They have no reason to exploit their customers, if they charge too much in fees one year they have to issue refunds the next year, usually by giving a bonus on savings accounts.

    Bring your unemployment or welfare benefits card to your local credit union and they will help you transfer the whole amount to one of THEIR ACCOUNTS.  They'll have an ATM card for you to use, and you can use it as many times a month as you want, with no charges.  In many cases they can arrange for the money to be transferred  out of your B of A account EACH MONTH, so it's just waiting for you.

    This is way easier to do than you think.  The people at the credit union will help you, even if you're not sure exactly what you want.  There is no-one on earth who hates bank fees more than a credit union employee, they know every one of those fees is pure greed, because they do the same job every day for no fees.

    By the way, most credit unions have arrangements to use each others' ATM machines for free.  In our town my (work-related) credit union is far away, but there is another credit union at the nearest strip mall, and I stop there all the time when I need to pick up cash.

    •  WA State has contracted with Chase (2+ / 0-)
      Recommended by:
      Larsstephens, Hillbilly Dem

      to handle welfare benefits transactions.  The recipients have a Chase card and withdraw funds using the card from Chase ATMs.

      Chase charges $0.85 for each withdrawal and the State pays Chase $800,000 a year to provide this service.

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