Almost rolled on the floor LMAO. Junipercard is actually "bribing" me with a ONE TIME $5 credit to my account if I sign up for paperless billings and make online payments. Their propaganda - "avoid statements getting lost in the mail system, mail stolen from your mailbox/leading to ID theft", etc.
I'd jump at it. One of my sub-prime cards actually charges me a $7 fee if I make a payment online! (But I just got approved for a Chase card, so the two sub-prime cards are going to be closed pronto.)
A lot of companies are going this way. I think Juniper is Barclay's bank, aren't they? They'll e-mail you when your statement is ready, and again to remind you when payment is due. They save the postage and paper, you don't have statements lying in your mailbox that someone can steal. Yes, that is actually one of the common methods of ID theft. You're going to see more and more movement to paperless accounts.
Yes, Juniper is Barclay's. While I agree that paperless accounts are "safer" it is that ONE TIME $5 "incentive" that cracks me up. If I sign up for the paperless way I would expect that "incentive" to become a permanent monthly thing, as I am saving them on paper and postage every month. Of course hell will freeze over before that happems. As far as the movement to paperless accounts is concerned - will never happen - there are nore consumers around that do not have a computer.
Be glad they're offering an incentive at all. The costs are built into their models that determine what they charge. They don't save $5 on every account every month. If they gave you a monthly incentive it would be about 30 cents, probably. But as they get more customers to sign up, they save costs. Then they won't raise interest rates and fees as fast. And while we may never see complete paperless billing, look for the day when you pay to get your statement by mail.
Won't raise interest rates & fees so fast??? Keep on dreaming. Pay extra to get statements by mail??? Will NEVER happen. Consumers with no home computers, and even the government will NEVER allow that to happen.
I hope you are right but I don't think so. MY bank now makes you pay TWO BUCKS to speak to a real person (BoA) I have had this bank now for over 25 years, when it was a town bank. UNfortunately over the years it was bought up by one bank after another, and BoA has been the worst one so far...I have now opened another account with a local bank that is more in the way I like to do my banking but who knows how long they are going to be small town. I am one of the people that want my REAL CHECKS back. I have large business checks with my logo on it and I also have in the notes what the item is for etc... This year all of a sudden I was getting a printout of the checks, 1 inch by a half an inch...I went to the bank and told them this is not acceptable and they went thru this whole spin of why this is going to take place. I managed to have them not do this, and they said it would take several months to get back to real checks. It really messed me up as each month I like the real hard copy check as this is how I do my taxes. Anyway after a two month cycle, I did get checks back but NONE were my checks just copies on flimsy paper! I went back to the bank and the bank said that many businesses now are doing their banking on line and the original check is destroyed. This bugs me as YOU KNOW and I KNOW that SOME checks are go ing to find their way OUT of dESTrOYEd mode and come back to haunt us. I want my checking acount to be like it was for years. I write a check I get back the check.<sigh> Oh for the good ol' days... Woofer
My credit union charges extra if you want a paper statement in the mail. Online access with electronic statements is standard, if you want snail-mail you have to pay.
Don't think so. All credit unions have monthly service charges which already INCLUDE the "cost" of paper statements. While their loan/credit card interest rates are lower than the banks', they make it up by monthly service charges.
I know of very few credit unions that charge monthly fees. I have no clue where you are getting these ideas. I belong to four different credit unions, and not one of them charges me a monthly fee.
Your bank is correct. It's a law called Check 21 that went into effect four or five years ago. Businesses and other banks transmit images of the checks, and the original checks are destroyed. This law basically eliminated "float" as checks clear immediately now. Many banks put the hold on the account right away. In many cases I could write a check at a business that transmits under this provision, and by the time I get home and log onto my online banking, the pending transaction is already showing. Some stores (and one of my doctors) run the checks through and immediately hand you the original check back. Some collect the checks and a central office transmits and destroys them. The copy is considered the same as the original. I don't know if your bank does or not, but many banks charge fees to even get the images of the checks with your monthly statement. You can go online and print them out. They are archived for a certain number of years, but I don't remember off the top of my head. It's been about three years since I did a paper on the Check 21 Act.
The Check 21 act was a direct result of 9/11 - when for days airplanes didn't fly anywhere and checks didn't go to processing centers and more than a reasonable trucking distance away.
Are you calling me a liar? I'm not blowing smoke, I'm not describing a situation I read about on the 'net. I'm talking about my very own account with Coastal Federal Credit Union in Raleigh, North Carolina. You can go read their policy here: COASTAL - e-Statements My account is free. No monthly service charges. If I elect to receive paper statements instead of e-statements, I have to pay $2 per month for them. Again, don't take my word for it. It's right here: COASTAL - e-Statements That's the way the world is going. For what it's worth, I also get all the documents from my car insurance online, too. So far, Geico is just pushing the "convenience" of online documents. But it's only a matter of time before they start charging for paper.
Yup. Odd though that when one DEPOSITS a check or they can tie up the funds for a WEEK or more!!! Yup they do this when you cash a check at a casino as well. As of yet my bank is not doing this. They get TWENTY FIVE BUCKS a month free me as a service charge and I get NO service, oh yes I do get free cashiers checks and typical bank checks. Woofer
No, I never called you a liar. But please remember - NOT all credit unions have the same policy regarding service charges. Your link was to Coastal Credit Union. And my original thread was about credit card statements/payment methods, NOT bank account statements. AS far as your last paragraph is concerned - that would become a major league discrimination issue by people who do not have a home computer.
How many more credit unions do you need to see that don't charge monthly fees before you'll admit that you can't keep making blanket statements based on a limited view. As I said, I belong to four different credit unions, and am preparing to join a fifth. NOT ONE of them charges a monthly fee. So that's at least six that don't. My inclination is to say that a monthly fee is the exception, not the rule. If you're paying one, look for a different credit union.
Yes, you did basically call TeeVeeDude a liar right here, when you said "I don't think so." You then stated that ALL credit unions have monthly fees. Right now we've told you that there are at least six that don't.
