Bewares when using Debitcards

[jimmys devoted]

We have ben noticing a trend down here in the knoxville area.. many merchants are adding 5 percent of the total sale to debit cards that may be in adidition to regular bank charges.
So lkets say your bank or store regularly adds 1.50 tro your purcahse for using your debit card, they may also tag on a 5 percent surcharge.
One place adds 5 dollars to use debit card, even for a pack of gum.

Many creditcards are also being tagged with small surcharges like 2.00 for use or a percentage of the total sale to cover charge processing fees.

We usual;ly pay cahs for everything and we were surprised at how quickly the money we had dwindled due to:
use fee 1.50, 5 percent tag charge, and then back use fees from the bank for use away from our ATM... so all in all we got charged an extra 6 dollars for our debit card use......

make sure you ahve updated info and know teh stores new policies before using plastic of any kind.

[luvbunnies42]

That's crazy!I was cautious about that when I read our banks policy. We get reimbursed for charges like that. Such as ATM's. At the end of the month the fees are then moved into our savings account automatically. Then of course you can transfer them back into your checking if you want too.

I know some places have marked about a fee or refuse to take a card without a minimum purchase. Every store should have it posted somewhere though.I don't know if they can just charge it without warning.Some stores here also put a longer hold on the account because of processing all the card transactions one day veruses every day or two.

[jimmys devoted]

I am using paypal, because they dont allow certain fees. but local banks do.....
I never heard of fees being refunded back into a savings account, thats wonderful.

[luvbunnies42]

Originally Posted by jimmys devoted

I am using paypal, because they dont allow certain fees. but local banks do.....
I never heard of fees being refunded back into a savings account, thats wonderful.

We use our state's credit union. I had so many problems with my previous bank. (M&T) They'd charge 50 cents per ever 3 debit transactions and have other fees. I had money that was in my account and said cleared and didn't.I finally had enough and went with our current bank who my then fiance' (now hubby) had. I won't use another bank now. We have free checking unless we want fancy checks then you need to pay for them. Our savings is connected, we can do online banking as well, go paperless if we want, automatical get entered into some promo's they sometimes have. (If you use your debit card it entered you automatically to win a certain amount of money) and so many other things that I love about the bank.

We even get interest baring and checking since it's a credit union.It may only be a few cents and varies by month but it's more then I had before.So, I love it.

[jimmys devoted]

I use US bank and they arent too bad.
I prefer ING for many things.

It sounds liek your bank is user and customer friendly.
My hubby and I went to the bank the otherday, and being farmers we were not in the " fanciest" of clothes.
I had been banking theer for 20 years. So we get these trust checks, which tehy ahve been cashing for years, and all of a sudden they couldnt cash them. Now they ahd to make sure teh checks were good, for two years from teh same trust, and tehy ahd to hold them.Basically when i go in in my uniform from work its no questions.. but I come in in my farm and off day clothes, and its a whole different story.........

We got profiled and we made a complaint to the main office. But I doubt it did any good..........
If i didnt need a bank i would not have one........a necessary evil.......

[raven1083]

thanks for the early warning. know i know that i should be careful when i used my debit card.