AP IMPACT: Jobless hit with bank fees on benefits

Discussion in 'Up to the Minute' started by Dark Knight, Feb 19, 2009.

  1. Dark Knight

    Dark Knight New Member

    Messages:
    21,642
    Likes Received:
    0
    Trophy Points:
    0
    First, Arthur Santa-Maria called Bank of America to ask how to check the balance of his new unemployment benefits debit card. The bank charged him 50 cents.

    He chose not to complain. That would have cost another 50 cents.

    So he took out some of the money and then decided to pull out the rest. But that made two withdrawals on the same day, and that was $1.50.

    For hundreds of thousands of workers losing their jobs during the recession, there's a new twist to their financial pain: Even when they're collecting unemployment benefits, they're paying the bank just to get the money — or even to call customer service to complain about it.

    Thirty states have struck such deals with banks that include Citigroup Inc., Bank of America Corp., JP Morgan Chase and US Bancorp, an Associated Press review of the agreements found. All the programs carry fees, and in several states the unemployed have no choice but to use the debit cards. Some banks even charge overdraft fees of up to $20 — even though they could decline charges for more than what's on the card.

    More at link:

    http://news.yahoo.com/s/ap/20090219/ap_on_bi_ge/bank_fees_jobless_benefits
     
  2. Loading...


  3. reportertype

    reportertype Dogs are awesome!

    Messages:
    2,927
    Likes Received:
    0
    Trophy Points:
    0

    I'm so glad we switched to a credit union and don't have to deal with that nonsense.
     
  4. raisincharlie

    raisincharlie Racing Doesn't Lie

    Messages:
    16,856
    Likes Received:
    3
    Trophy Points:
    0
    Well, that really stinks. Those darn banks got a ton of money and they are still inclined to mess over people. Unbelievable, sadistic, but not unexpected really.
     
  5. snowshuze

    snowshuze Well-Known Member

    Messages:
    3,473
    Likes Received:
    387
    Trophy Points:
    83
    Jars. Shovel. Behind the barn.
    Just sayin.

    :D
     
  6. Kat

    Kat Kind words do not cost much

    Messages:
    17,195
    Likes Received:
    31
    Trophy Points:
    0
    Heh, you read my mind!
     
  7. Devon

    Devon New Member

    Messages:
    767
    Likes Received:
    0
    Trophy Points:
    0
    Being a Brit, I know all about greedy banks and their exorbitant charges. We've had a mass revolt by 1000's of bank account holders here in the UK for the past couple of years. Initially the banks were paying back £1000's when challenged in court by these customers, but now the whole issue is being thrashed out between the banks and our Office of Fair Trading - first in the High Court and now currently in the Court of Appeal. Judgement is due next Thursday and we are all keeping our fingers and toes crossed for a fair judgement.
     

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice