• filter:
  • 164656667 68
  • Page
  • Previous 40
  • Text Only
  • Search this Topic »
rated:
yeah!!!( Trump)

rated:
Do any rewards accounts not require so much debit card activity? In other words, do some have other requirements, such as if you have to have 15 direct deposits and send 15 complaints to the bank's customer service each month? I haven't actually used any rewards checking accounts but am considering it. But I don't like the idea of being required to use a debit card more frequently than I even use credit cards. If I fake it by paying $2 at a time towards an online bill, it might not last very long.

What I really want is a bank that pays competitive interest on both the checking and savings accounts, or one that pays high enough interest on the checking account that I don't even need the savings account. Rewards accounts seem like one possible way to accomplish that. But I just don't like the idea of playing such games with debit cards. Presently I get my direct deposits at Fidelity, and have my savings at Barclays. I'm just looking for a way to improve on that setup, to get more interest without too much more hassle and time consumption. What I like about Fidelity is how well it works as a hub, and how few bugs it has. What I like about Barclays is that they never seem to lower their interest rate, so I never have to switch accounts to chase rates. But Barclays has plenty of website bugs, and their interest rate is just 1.0% APY. And Fidelity's is like "Honey, I shrunk the interest rate" (happened years ago.)

rated:
Of course not. The bank needs to make $$$, which they do off the debit cards swiped as credit cards.

rated:
tjguitar85 said:   Of course not. The bank needs to make $$$, which they do off the debit cards swiped as credit cards.
  I believe they make money off the merchants that accepts the card even if you charge $0.01, the banks make a minimum per swipe... I don't know why they are so concerned about mini payments since they are making BIG money off of the merchant if you consider the percentage of fees versus the actual sale....

rated:
the only good (great) RCA today is myconsumers.org. click under "personal" and click rewards checking. You can do 12 swipes or more (required) as credit in self service checkout at grocery. (5x per day at 1 store) is the limit and then go to Dunkin donuts. it's quit easy and look at the rates!! i do my swipes and bill pay in 1 day!

rated:
BIGTCQB said:   tjguitar85 said:   Of course not. The bank needs to make $$$, which they do off the debit cards swiped as credit cards.
  I believe they make money off the merchants that accepts the card even if you charge $0.01, the banks make a minimum per swipe... I don't know why they are so concerned about mini payments since they are making BIG money off of the merchant if you consider the percentage of fees versus the actual sale....
  

None of the ones I have used have a minimum charge per swipe.

rated:
BIGTCQB said:   
tjguitar85 said:   Of course not. The bank needs to make $$$, which they do off the debit cards swiped as credit cards.
  I believe they make money off the merchants that accepts the card even if you charge $0.01, the banks make a minimum per swipe... I don't know why they are so concerned about mini payments since they are making BIG money off of the merchant if you consider the percentage of fees versus the actual sale....

Banks are concerned with making money, that's why they tend to lower rates and dollar maximums until the "rewards" account becomes unrewarding.  It's easy enough to establish purchase minimums and/or weed out the ".01" users.  But they usually just kill it for everyone.  

  • Quick Reply:  Have something quick to contribute? Just reply below and you're done! hide Quick Reply
     
    Click here for full-featured reply.
  • 164656667 68
  • Page
  • Previous 40


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2015