The city of Oakland has begun offering ID cards that can also double as prepaid debit cards. Not inherently a bad idea, except for the fact that these cards come loaded with fees that will chisel away at the user’s funds. [More]
Consumerist reader Ben recently went on Ticketmaster to buy six tickets to catch the Book of Mormon at the Bank of America Theatre in Chicago. The tickets alone were pricey enough (around $90/each) and of course there were more than $10/ticket in fees. But when he looked at the receipt, he saw he’d been hit with another $245.10 above what he’d expected to pay. [More]
UPDATE: A rep for HSBC has finally responded to our request for clarification on the fees.
A few years back, after the death of her parents, Consumerist reader Jen took over the running of the house in which she’d grown up. Since then, she’s been paying the bills without problem. But now the water company wants her to pay $30 simply to change the name on the account.
In 2005, an Indiana couple sold their baking business for a nice sum of $6.5 million and turned to JPMorgan Chase to place that money in “safe and liquid investments.” But the investors say Chase deliberately ignored their wishes and put the millions into high-risk investments that also padded the bank’s coffers with “fees upon top of fees upon top of fees.”
You may not be familiar with the term “drip pricing,” but you’re probably all too familiar with the concept. It’s when a company advertises only one part of a product’s price and doesn’t reveal other associated charges until later in the the buying process.
Following yesterday’s news that Bank of America is testing new checking account fees in Massachusetts, that state’s Secretary of State has said it may be time to pull out the millions of government money currently stashed in the BofA coffers.
See that bag of coffee grounds at Starbucks that’s listed at $12/pound? Well, if you buy less than a pound, there’s a fee of $1.50 that isn’t mentioned anywhere in the store and doesn’t show up as a fee on the receipt. But now, after being busted by authorities in Massachusetts, the java giant has decided to stop charging the fee.
While regulators continue to push through rules intended to make airfares more transparent, airlines continue to pare base ticket prices down while charging fees for everything else that used to be included in the listed cost. Given all the potential permutations, it’s not surprising that Jeff Smisek, CEO of United Airlines, doesn’t see things getting simpler anytime soon.
Have you ever glared angrily at the ATM, knowing that you’re going to be saddled with fees and wishing you could sue everyone involved? Well, it looks like more than one person has followed through on this idea.
It’s not just Senator Dick Durbin and scissor-happy Fox Business Network anchors who disapprove of Bank of America’s announcement that it will begin charging a $5 monthly fee to some customers who use their debit cards to make purchases. Our benevolent benefactors at Consumers Union are now calling upon legislators and regulators to investigate this move by the nation’s largest bank.
Yesterday, Bank Of America announced it would begin charging a $5 monthly fee for some BofA customers who use their debit cards to make purchases. Not surprisingly, this did not go over well with Illinois Senator Dick Durbin, one of the leading proponents of swipe-fee reform.
Even though swipe fee reform resulted in a bank-friendly compromise, it still managed to halve the amount banks earn every time you pay for something with a debit card. And so the hunt to make up for that lost money continues, with Bank of America looking to charge a $5 monthly fee to some debit card users.
Fees for checked bags vary wildly, from absolutely nothing to arm-and-a-leg-and-an-ear. And according to a new round-up of fees from the various carriers, you might need to throw another limb in there if you’re checking an oversize bag on your international flight.
As we’ve reported numerous times during the last year, many banks have been planning to fight new financial regulations and swipe fee reforms by tacking on a host of new fees for everything from getting a paper statement to talking to a human being at the bank to closing an account. Now our corporate cousins at Consumer Reports want to hear from you about which ones have been creeping their way into your bank statements.
Bottom-dollar carrier Spirit Airlines is trying very hard to become the Ryanair of the U.S., announcing that it will soon begin charging travelers $5 to have a boarding pass printed by a Spirit staffer at the airport.
Since Delta began charging fees for checked bags — $25 for the initial piece on domestic flights; $35 for a second — the airline has been offering $2-3 discounts to travelers who prepaid those fees online instead of at the airport. Not anymore.
Bank of America is making an 11th-hour push for inclusion in the upcoming Worst Company In America tournament. Starting in February, folks with BofA mortgages who don’t have BofA bank accounts will see their current 15-day grace period for making payments cut by 40%.