AP IMPACT: Jobless hit with bank fees on benefits

AP IMPACT: Jobless hit with bank fees on benefits

For hundreds of thousands of workers losing their jobs during the recession, there's a new twist to their financial pain: Even when they're collecting unemployment benefits, they're paying the bank just to get the money — or even to call customer service to complain about it.

Thirty states have struck such deals with banks that include Citigroup Inc., Bank of America Corp., JP Morgan Chase and US Bancorp, an Associated Press review of the agreements found. All the programs carry fees, and in several states the unemployed have no choice but to use the debit cards. Some banks even charge overdraft fees of up to $20 — even though they could decline charges for more than what's on the card.

This is absolutely ridiculous. Just one more way to suck up every possible dime they can from the rest of us. Apparently Citigroup is willing to stop charging the fees if you are on unemployment, but only if the state starts paying them.

As if they don't make enough money off of people as it is, they have to go and charge $1.50 if you make two withdrawals in a single day and $0.50 a call just to check your balance or complain about the 50 cent charge. Yet another reason to add to the list of things I hate about banks.

And then people still can not believe that this corrupted institutions are not calling the shots in Washington because the government bought them off with TARP money.

Well better get start looking at the reality of politics in this nation because is going to get a lot worst.

We were robbed to pay for this corrupted institutions and they still keep on robbing you anyway they can.

You don't see any people in congress doing anything about it.



[edit on 19-2-2009 by marg6043]

Front door and back door robbery...I think I will make a sizable deposit, brb.....




(washing hands and noticing belt buckle is undone, buckles it)

I feel much better now.

[edit on 19-2-2009 by Ahabstar]

Waitaminute, so banks *aren't* companies that exist solely to make money?? OMG say it ain't so!!

LOL, if you are going to be outraged at someone for this, blame the governments that decided to pass their administrative costs on to their constituents via fees. These programs exist because governments save $300K per year in printing costs. The banks aren't charging the government a dime for their service. The banks incur overhead in mailing out and maintaining debit cards. Did you honestly think that banks, who are companies that exist to make a profit, and ONLY to make a profit, were doing this out of the goodness of their blessed hearts?

Originally posted by marg6043
We were robbed to pay for this corrupted institutions and they still keep on robbing you anyway they can.

You don't see any people in congress doing anything about it.

If they do manage to actually do something about it, it will only be to nationalize them. Then they can rob us and have it go straight to the government.

reply to post by ldunquist


That's kinda the point. The states know that the banks are doing this to people who have lost their jobs and are living off of unemployment, yet they don't bother to do anything about it.

[edit on 19-2-2009 by Jenna]

Folks, some of these banks are contracted to provide EBT (electronic benefit card) services to states...EBTs are used to distribute Food Stamps, cash assistance (aka TANF aka welfare)...

The banks also levy service charges on welfare benefit accounts...so, not only are they being paid by the US gov't to provide a service, they also nickle & dime welfare recipients by imposing a charge when the recipient calls to check their balance...

Nice, huh?
Ezzi

[edit on 19-2-2009 by ezziboo]

I am a not so proud possessor of the NY card myself. I receive my child support on the official card and they rob you for every penny they can! It is impossible to get a person on the phone and the website will only work when it feels like it, therefore you have no choice but to check the balance. Of course getting such a small amount of back child support at one time makes checking the balance and infrequent task.

Most ATM's are now charging $3 just to draw the money out, add the one dollar fee and your screwed by everyone.

There's a simple way to get the banks to change their stance...try and find others in the same situation who have an account with the same bank, and all 'flashmob' a prominent branch, preferrably with a news team in tow

Nothing like a crowd of ripped-off and p****d-off consumers and the presence of a TV camera to get the point across

reply to post by citizen smith


It may cause them to issue small refunds to those who are there with the cameras, but it probably won't. They will likely just have the police keep the reporters away from the building or will refuse to speak on camera. While it would be a great way to draw attention, angry people in mobs tend to destroy things and that wouldn't help the situation.

Hey, as if that wasn't bad enough being robbed for every damn dime by the SAME banks that received hundreds of BILLIONS of dollars of YOUR (taxpayer) money... Financial aid cards for students in Oregon went the extra step, and is charging 50cents for EVERY time the debit card is USED. To buy a soda, dinner, whatever... And pulling cash out costs $1.50 or something, and then whatever the ATM you use decides to charge.

I got an idea. Why don't we just sell everything we own, and send every last penny to the banks?

As for the person saying that banks exist to make a profit.... YOU are WRONG. Their business plan of profit making flopped. They are based, supposedly on a platform that is unable to sustain itself, and therefor the WHOLE COUNTRY went into debt to make sure they could KEEP robbing people. Come on, the hundreds of BILLIONS wasn't enough... This is a platform that cannot sustain itself and puts a whole country into debt. Don't give me the crap about being a "business that exists to make money."

They FAILED, and the WHOLE COUNTRY went BROKE because of their "existing to make money".

Bull**