[L0KoxewQ]

More unintended consequences from Democrats that interfere to help the folks. Protecting the irresponsible always makes it worse for everyone. Thanks Obama, TD Bank now charges me a fee on top of the other fee that the ATM already charges.

Banks Jack Up ATM Fees, Blame Regulations - ABC News

"The changes come at a time of big upheaval in the banking industry. The Dodd-Frank Wall Street Reform and Consumer Protection Act, passed by Congress last year, imposes new compliance requirements that could be costly for banks. It included the Durbin amendment, which would limit banks' income from debit card fees."

[gabbaman]

Sometimes people forget life before ATM's. You can still walk into your bank and get cash too.

[TerriLS]

Or purchase just about anything with your card without cash. There is a point where profiteering like this turns consumers away from the banks that practice it. Hopefully that point has just come for Chase. Thats absurd. They should just not accept other banks card point blank at that point.

[wheettebott]

Sometimes people forget life before ATM's. You can still walk into your bank and get cash too.

You can still write a letter too, but my guess is you prefer email?

[alenbarbaf]

Or purchase just about anything with your card without cash. There is a point where profiteering like this turns consumers away from the banks that practice it. Hopefully that point has just come for Chase. Thats absurd. They should just not accept other banks card point blank at that point.

Or maybe the government shouldn't tell banks how to run their business? Perhaps if banks could still charge overdraft fees, we wouldn't be in this situation?

[Oppofeescom]

You can still write a letter too, but my guess is you prefer email?

I do prefer email.

I just checked my TD Bank checking account and noticed I got charged for taking out money at Parx Casino.

03/14/2011 DEBIT NONTD BNK ATM $2.00

Those bastards. Citizens Bank here I come!

[MannyLopez]

Or maybe the government shouldn't tell banks how to run their business? Perhaps if banks could still charge overdraft fees, we wouldn't be in this situation?

I feel very sorry for the poor, unprofitable banks whose only way to make money is to rig transaction-order to wring out the largest possible overdraft fees from depositors.

Does anyone remember when atm's were introduced and one of their selling features was that the banks would save money because they wouldn't have to employ so many tellers? Now they're saying how much it costs them to operate an atm!

Seems to me that sometimes banks forget that it's MY money I'm accessing, not theirs.

[CenICrerflind]

I much prefer this to overdraft fees. An ATM needs to show how much it will charge you if you take money out. Overdraft fees were turned on automatically on debit cards when previously transactions had just been declined. I would have been fine with having overdrafts be the default as long as you could decline the "service" but most banks didn't allow that. My biggest problem is that banks need to tell you their fees outright. If an account has overdraft protection built into it then I'll go to the next account. But banks didn't tell us this, we signed up for accounts and they changed it midstream.

[adactthrd]

Or maybe the government shouldn't tell banks how to run their business?

Because the banking industry did such a bang up job with running the world economy in 2008?

Thats a patently absurd statement. Modern banking can not exist without FDIC insurance, capital requirements, a whole host of government controls. If government were to completely disengage from regulating the banking industry we would all be carrying around in sacks because using an ATM card would be about as reliable as giving your credit card to a Russian porn site hawking discouned Viagra.

Sure if you want to go back to carrying arund sacks of gold and barter, lets completely eliminate all government regulation of the banking industry.

[giftplas]

I do prefer email.

I just checked my TD Bank checking account and noticed I got charged for taking out money at Parx Casino.

03/14/2011 DEBIT NONTD BNK ATM $2.00

Those bastards. Citizens Bank here I come!

TD bank just removed (3/7/2011) the ATM fee refund for their default Checking accounts. You now have to have one of their checking accounts w/ minimum balance of $2500 to keep getting the fees reimbursed.

[SergeyLisin]

Or maybe the government shouldn't tell banks how to run their business? Perhaps if banks could still charge overdraft fees, we wouldn't be in this situation?

That is hard to do when the Feds bail you out and/or lend you ca$h at 0%!

You live by their (Feds) terms

[maclaudser]

I do prefer email.

I just checked my TD Bank checking account and noticed I got charged for taking out money at Parx Casino.

03/14/2011 DEBIT NONTD BNK ATM $2.00

Those bastards. Citizens Bank here I come!

Isn't the freedom to choose a great thing?

[mincarlie.frymyer]

Seems to me that sometimes banks forget that it's MY money I'm accessing, not theirs.

Most on this board believe that it is the governments money not yours

[greeferweq]

I feel very sorry for the poor, unprofitable banks whose only way to make money is to rig transaction-order to wring out the largest possible overdraft fees from depositors.

OK, so you would rather do without banks? You sound like a union worker demanding more money so that the evil company you work for doesn't make a profit and goes out of business.

I much prefer this to overdraft fees. An ATM needs to show how much it will charge you if you take money out. Overdraft fees were turned on automatically on debit cards when previously transactions had just been declined. I would have been fine with having overdrafts be the default as long as you could decline the "service" but most banks didn't allow that. My biggest problem is that banks need to tell you their fees outright. If an account has overdraft protection built into it then I'll go to the next account. But banks didn't tell us this, we signed up for accounts and they changed it midstream.

Usually a bank sends out a notice explaining a change in their fees. I know TD Bank sent me a letter explaining that they would now charge me a fee for using another bank's ATM. I think they need to simplify the language to make it more clear, since at time it can be rather confusing... but it was very easy to not get charged an overdraft fee. Just don't spend or charge money you don't have. But in order to protect the irresponsible, we all must now pay more at the ATM.

Because the banking industry did such a bang up job with running the world economy in 2008?

Thats a patently absurd statement. Modern banking can not exist without FDIC insurance, capital requirements, a whole host of government controls. If government were to completely disengage from regulating the banking industry we would all be carrying around in sacks because using an ATM card would be about as reliable as giving your credit card to a Russian porn site hawking discouned Viagra.

Sure if you want to go back to carrying arund sacks of gold and barter, lets completely eliminate all government regulation of the banking industry.

My comment was made at the government interfering with with overdraft charges and debit card charges. Of course some regulations are necessary, but at what point do they do more damage than help? I believe this may be the line.

By the way, remember the regulations the government imposed on the banks in regards to sub-prime mortgages? Force the banks to lend to irresponsible people, and then blame them for a fiscal crisis?

[triarmarm]

That is hard to do when the Feds bail you out and/or lend you ca$h at 0%!

You live by their (Feds) terms

Out of curiosity, how much do they still owe? I tried looking it up real quick and couldn't find it.

[prearpaccew]

Because the banking industry did such a bang up job with running the world economy in 2008?

W/out coercion from the Federal Govt and more importantly the 4th branch known as the Federal Reserve?

Sure if you want to go back to carrying arund sacks of gold and barter, lets completely eliminate all government regulation of the banking industry.

Numerous states currently have legislation out there going in that direction

[Sandra_18X]

Out of curiosity, how much do they still owe? I tried looking it up real quick and couldn't find it.

No clue but the incestuous relationship btwn banks and the Feds over time has destroyed this country

[MFSSCW2c]

Numerous states currently have legislation out there going in that direction

You don't even understand your own ideology if you believe that.

[Tribas4u]

Banks must offer the option to opt-out of automatic overdraft protection. You probably got some legalese information that you didn't bother reading. However, most banks have it implemented so you're enrolled by default at have to opt-out. With TD it's a simple message via their website, or phone call if you prefer. I'd rather be declined than have my $5 transaction go through and then charged a $35 overdraft fee, so I called and opted out and it's worked like a charm for me.

As for ATM fees, this is nothing new. Years ago when ATMs were still generally called MAC machines (pre-Star/PLUS networks) the ATMs owning bank would charge a fee, and your own bank would charge a fee for using another bank's ATM. The fees were lower at the time (usually like $1 or $1.50), but you'd still get it from both ends.

And yes, the power of choice is great!

[Xxmlqevq]

And thats what people should do - take their business elsewhere from banks that try to extract exorbitant fees like this. When they start to lose business maybe they will see the folly in their ways. Capitalism at its best.