Quote:
Originally Posted by signupdamnit
Like others I prefer checks and wires. These prepaid cards and alternatives always seem to have a "scammish" feel to them. Annual fees, Decline fees (wtf?), balance inquiry fee (wtf?), Transaction fees, etc. All sorts of ridiculous fees for every little thing you do or don't do. Significantly worse than your average bank. And then we know so little about them...
I mean Is it really necessary to charge us $1 to check our balance?
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Some of the fees you mention like annual fees, declines fees, transaction fees are real fees not scams by anybody. those fees are charged by VISA/MC and thats why Visa is now valued at several billion dollars. They make money with those to use their networks. we all expect it free but somebody pays for it, in your brick and mortar bank they cover it as they make money with the interest charged on credit or with your investments there.
The other fees like $1 balance inquiry we never charge anything like that , Paxum has free balance check in real time you can refresh it 100 times a day if you want you will not be charged a penny. I am not sure where you saw $1 fee for balance inquiry.