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Thursday, August 29, 2013

Too Long For Twitter: Credit Union Surprise

In the last month or so I've been using my debit/ATM card for purchases instead of running to the machine to withdraw cash. I used my credit union's app to transfer money from saving to checking via phone and then paid for food, etc. with the debit card. So convenient, right? Except I noticed today these $1.00 fees on my list of transactions in the last few days. It turns out that I get ten free ATM withdrawals and POS (point-of-sale) transactions per month. After that, it's $1.00 each.

Granted, credit unions are much, much better than the big banks, but still, this bothers me. If the point of the card is to keep people from having to run into the bank and get money from a teller, and to not have to process a paper check to pay for things, then why shouldn't debit card sales be free of transactions?

Now if you'll excuse me, I have to go withdraw enough cash to tide me over for a while.

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