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Author Topic: You think the blockchain fee is too high? Use a bank. $6.4 Billion in fees  (Read 430 times)
RawDog
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February 23, 2017, 12:59:36 AM
 #1

Look at these fuckers... http://money.cnn.com/2017/02/22/investing/atm-overdraft-fees-rise/
Nothing will make Bitcoin more successful than this. 

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February 23, 2017, 11:10:41 AM
 #2

That's because of lack of regulation.

I have bank accounts since I was 16 years old, always had debit card and withdrew cash from ATMs, never paid a cent for using ATMs or for having a debit card, I never even paid for account maintenance...

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February 23, 2017, 11:22:57 AM
 #3

The banks are getting more and more greedy.The fees are insane and with those negative interest rates
all the people who have deposits in the banks loose money.
Right now,it`s more profitable to buy bitcoins instead of making a bank deposit.



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February 23, 2017, 11:42:50 AM
 #4

It is astonishing the amount of money they make from fees, I mean £15 a month fee for an account in the UK which offers you nothing beyond the standard overdraft and perhaps travel insurance really is a rip off, if you do venture over your overdraft you get hammered also, which really you shouldn't need to go over it anyway but still if you do you get penalised.

You would think a responsible business would perhaps investigate why a person needed to go over the overdraft and offer some advice but that's not really going to increase profit is it.

Not as bad as the payday lenders which feed off of the poor / needy but not far off it.






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February 23, 2017, 12:06:28 PM
 #5

That's because of lack of regulation.

I have bank accounts since I was 16 years old, always had debit card and withdrew cash from ATMs, never paid a cent for using ATMs or for having a debit card, I never even paid for account maintenance...

Well you are lucky that in your country they dont charge you with surcharges. In my country banks will charge you with surcharges by  making any atm transactions. Even making a balance inquiry will cost you something. With bitcoin I can be freed from those surcharges and I can check my wallet balance without having to pay something and I am using a site that does not place any fee when I send bitcoins.

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February 23, 2017, 03:20:30 PM
 #6

Some of these people pay overdraft fees, because they are stupid. You should not have a overdraft in the first place, because it is the most

expensive debt you can make. Secondly, you should always check your balance, before you withdraw money from your account. The banks

know that people are lazy and they exploit that.... Example : The ATM withdrawal option is configured to display several pre-configured amounts,

$50 / $150 / $250 for instance and not round figures. {They have different fee rates for different amounts and these amounts is linked to round

numbers : >$100 or >$200 ..... So you get to the ATM, and you are to lazy to type in the amount and choose one of the available amounts.

These amounts are not rounded off, so you pay slightly more fees, because you are too lazy to type in the amount.} Well, that is how this works

in my country.  Roll Eyes  

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February 23, 2017, 03:35:02 PM
 #7

Yeap I deal with this as well being a country of greedy with all the extra fees and maintenance and even certain money to start out a bank but eh I can live with it.
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February 23, 2017, 04:21:14 PM
 #8

Look at these fuckers... http://money.cnn.com/2017/02/22/investing/atm-overdraft-fees-rise/
Nothing will make Bitcoin more successful than this. 

Well, it is because that certain ATM machine is hacked that is why they are asking too much fee on every transaction that is going to be make on them. Since it was already on the news, then, I am sure that no one would ever use that kind of ATM and also, users will be aware with this kind of ATM next time because they must learn from their mistakes whoever used and scammed by that ATM.

This kind of deeds right now is just normal this days, because since most of the people wants to have a lot of money, they are doing whatever they can to have money, even if it is illegal or even if they need lies to fool people just to get the amount of money that they want.


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Lucius
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February 23, 2017, 04:38:35 PM
 #9

That's because of lack of regulation.

I have bank accounts since I was 16 years old, always had debit card and withdrew cash from ATMs, never paid a cent for using ATMs or for having a debit card, I never even paid for account maintenance...

It's nice because you live in a country where this is possible,but in some other countries you must pay for the services you use free of charge.The problem is of course in the countries which allow the banks to do whatever they wants,as you say in lack of regulations.So same bank in two different countries has a completely different fees and interest,usually less developed countries have more expensive banking services.

Banks have always been and will be greedy,they are there to enrich a very small number of people.Fortunately we have a BTC who despite problems still offers a much cheaper way to send and receive money,at least for some people.

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February 23, 2017, 04:48:03 PM
 #10

In my country, I paid about 6.5$ per month for "account maintenance". They introduced this in my country 1-2 years ago, giving the reason that it is because they make less money from traditionnal products (saving account, ect)
6.5$ is high, I don't visit my bank, last time was 3 years ago maybe, I never talk to my banker, and never did once, I don't use their offices, I don't use the time of any staff, I don't use checks, I do all transactions online and most of them are automatized monthly... I mean this fee doesn't seems justified to me. If a country has 100 millions citizens  each with a bank account then it is a 650 millions dollars income every years

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