NDP calls for ban on ATM fees
- Thread starter Gonzo
- Start date
Why is it that conservative people will defend corporations and banks who charge us services charges to make billions and billions of dollars, but when the government needs money for social programs they dont want their taxes raised? It's okay for a CEO who doesn't do anything but sit on a board to make millions a year, "it's his right"!! but money that could go into health care or a whole bunch of underfunded government programs? "No, not out of my pocket"!! I dont understand that mentality.
Like I mentioned earlier, anything to stiff the banks is fine by me.
But let's put things into persepctive, unless the banking system in Canada is different from the US.
I've changed a myriad of banking institutions throughout my lifetime, because of customer service.
I have never had to pay fees for having a checking account. Checking accounts are free. First round of 1000 checks are free. Withdrawls and deposits are free. ATM fees apply when you withdraw money from a machine NOT owned by the bank you deal with.
Does it really require outlawing ATM fees?
But let's put things into persepctive, unless the banking system in Canada is different from the US.
I've changed a myriad of banking institutions throughout my lifetime, because of customer service.
I have never had to pay fees for having a checking account. Checking accounts are free. First round of 1000 checks are free. Withdrawls and deposits are free. ATM fees apply when you withdraw money from a machine NOT owned by the bank you deal with.
Does it really require outlawing ATM fees?
Depending on the bank you do business with in Canada, you can still be charged transation fee's for using the machines your bank provides.
Paste didn't format correctly... check this link out.
http://www.tdcanadatrust.com/accounts/compare_chequing.jsp
Now, let's clarify things a bit.
If you have an account with a bank, and you use their machine to access money from that account, I do not think you should be charged any fee.
If you use another bank's machine, then they are paying for armoured service, for the machine, and they do not have the benefit of your business,......they have every right to charge you a fee.
"White Label" machines, those without a bank logo, are leased by the business in which they appear, and loaded by that business. The corner store, bar, whatever, has every right to charge you whatever they please for the use of that machine.
Only when you are accessing your money in your bank through their machine should you have the right to be free from service charges, IMHO.
I can't believe Tenpenny and those debating with her, didn't even bother to notice the glaring flaw in her arguement.
You get fee's from dealing with flesh and blood tellers too.
Not that it matters, Crime has gone down considerably since ATM's and Debit came onto the scene. It just aint worth it to steal some old ladies purse when she only had lumps of plastic in it instead of rent and groceries for the month.
Banks make enough money of the most retarded of legislation. I'd be all for fee's of any amount they chose if they didn't get special treatment for the government and where no different than any other business.
You get fee's from dealing with flesh and blood tellers too.
Not that it matters, Crime has gone down considerably since ATM's and Debit came onto the scene. It just aint worth it to steal some old ladies purse when she only had lumps of plastic in it instead of rent and groceries for the month.
Banks make enough money of the most retarded of legislation. I'd be all for fee's of any amount they chose if they didn't get special treatment for the government and where no different than any other business.
Cash is king Colpy...
If we didn't have cash to move around you could stop contemplating the possibility of the most dreadful thing happening to someone you knew and liked/loved....
It's a "service" the bank provides...makes possible....it's just business...
If we didn't have cash to move around you could stop contemplating the possibility of the most dreadful thing happening to someone you knew and liked/loved....
It's a "service" the bank provides...makes possible....it's just business...
"Durka Durka" is something terrorists mumble in the movie "Team America-World Police"
That's what the banks are doing as well. They aren't paying for armoured car service and capital expenses to service other bank customers. Why people have to use a white machine near a lottery terminal or in a pub is beyond me since the retailer accepts interac. But people use them and don't seem to mind paying 1.50 per transaction yet a bank do the same on their own premises and the NDP is all over for political brownie points. They are a desparate political organization losing badly to both the Cons and Libs and know what's easy. Scream about the banks, provide half truths, and everyone rushes in to thank Robin Hood.
It may be just business, but it's gouging. Look at the record profits they make every year. They are providing an essential service. You cant get paid without having a bank account. You cant survive without one. So your forced to pay fees. And with those record breaking profits every year, they are charging too much. You basically loose money if you have a bank account, and you cant get money without one. It's weird how more people complain about gouging at the gas pumps then gouging at banks. Oil and gas are just business too.
I dont know of any account that doesn't have service fees. If there is one, I'm switching to them.
I dont know of any account that doesn't have service fees. If there is one, I'm switching to them.
So Jack Layton wants to ban ATM fees to save bank users $5 - $10 per month? Of course, the hypocrisy is just too delicious. In one breath, Mr. Layton will tell you that $100 per month for child care is mere peanuts. In the next, he runs to the CBC to decry ATM convenience fees.
What are you trying to give me with $10 per month, Jack? I can’t even go to a movie theater for that kind of change, let alone buy an overpriced soda there. I suppose I could rent a movie, but it would take me at least 4 months of no ATM fees to save up the money for the cheapest DVD player on the market.
This is a fine example of capitalism, but of course the socialist swine squeals in disgust. If you don’t want to pay for the convenience of being able to instantly withdraw money virtually anywhere on the planet, then do like we did in the old days - visit a bank teller.
Something of interest is you can take all of Layton’s arguments against reducing the GST and apply it to this. “It won’t help the poor as much as the rich” etc. etc. I mean, how many homeless people have you seen withdraw money at ATMs?
Let’s do the math using Taliban Jack’s own numbers for the lefties frothing at the mouth as they read this. The population of Canada is just under 33 million. When you divide the $420 million among each individual Canadian, it comes out to $12.72 per year. Let’s say only half of Canadians have debit cards. Under Layton’s plan, 16.5 million Canadians would save an annual amount of $25.45.
Once again we see the NDP at it’s finest - an initiative that sounds good, but when you really think about it, it will amount to hardly anything for anybody. Of course, the mainstream media will be more than happy to indulge Layton and give him all the time he wants on air to talk about this suggestion.
http://splatto.net/blog/?p=368
:laughing7: :laughing7: :laughing7: This was way too funny.
What are you trying to give me with $10 per month, Jack? I can’t even go to a movie theater for that kind of change, let alone buy an overpriced soda there. I suppose I could rent a movie, but it would take me at least 4 months of no ATM fees to save up the money for the cheapest DVD player on the market.
This is a fine example of capitalism, but of course the socialist swine squeals in disgust. If you don’t want to pay for the convenience of being able to instantly withdraw money virtually anywhere on the planet, then do like we did in the old days - visit a bank teller.
Something of interest is you can take all of Layton’s arguments against reducing the GST and apply it to this. “It won’t help the poor as much as the rich” etc. etc. I mean, how many homeless people have you seen withdraw money at ATMs?
Let’s do the math using Taliban Jack’s own numbers for the lefties frothing at the mouth as they read this. The population of Canada is just under 33 million. When you divide the $420 million among each individual Canadian, it comes out to $12.72 per year. Let’s say only half of Canadians have debit cards. Under Layton’s plan, 16.5 million Canadians would save an annual amount of $25.45.
Once again we see the NDP at it’s finest - an initiative that sounds good, but when you really think about it, it will amount to hardly anything for anybody. Of course, the mainstream media will be more than happy to indulge Layton and give him all the time he wants on air to talk about this suggestion.
http://splatto.net/blog/?p=368
:laughing7: :laughing7: :laughing7: This was way too funny.