Quote:
Originally Posted by MarchHare
I hate -- HATE -- the fees for using ATMs, but this is really none of the government's business. Banks are free to charge any exhorbitant fees they want, and consumers are free to choose not to pay them. If you don't want to get dinged with the fee, use your own bank's machines. It's not like you have to pay $4.00 at one of those expensive ATMs they have in bars and such; plan ahead and stop at your own bank for cash if you're going out for a night of drinking.
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AMEN, people should take responsibility for their own finances. Same thing with getting dinged $35.00 for insufficient funds. Like know how much money is in your account and just dont write a check if your balance is gonna put you in the red, take some responsibility. Today's world is almost too convenient and you better get used to paying for convenience. If you dont want to pay for that convenience, then do the homework and take out your money where your own bank machines are. From what I have seen, the worst offenders are the teenage crowd. I have seen them pay for a package of gum with their debit card or credit card and then get dinged more in fees than the gum was worth.
I think ATM machines in foreign countries are a different matter. There I think the convenience is worth it. I would rather pay a fee internationally than be walking about with all my money in traveller's cheques or worse yet with a huge wad of cash. And we just got back from Mexico, from a touristy place, never paid more than $5 for the ATM service charge, basically about the same as in Canada.
And most financial institutions have a package where you just pay a charge up front every month and most things are then covered. We pay $12 per month at the Royal, all cheques written are included, internet banking, fees for travellers cheques, you get a safety deposit box, forget what all, but for us it is worth it rather than getting dinged for every little transaction. And to me it is worth more to pay it up front and let me do the rest cause I hate wasting my time in lineups. So look into what your bank offers. If you are a long time customer, have been a good customer, you should have no trouble with your banks.
So leave the government out of it. They have a much higher percentage of screwing things up than you do, although some people should get help in managing their money. And sadly for them, no matter if govt changes regulations for banking or not, those people will still struggle managing their money.