For Bank Of America, Debit Fees Extend To Unemployment Benefits

For Bank Of America, Debit Fees Extend To Unemployment Benefits
Janell Ross - HuffPo
First Posted: 11/10/11 07:20 AM ET Updated: 11/10/11 09:12 AM ET



<snip>

CORDOVA, S.C.-- Shawana Busby does not seem like the sort of customer who would be at the center of a major bank's business plan. Out of work for much of the last three years, she depends upon a $264-a-week unemployment check from the state of South Carolina. But the state has contracted with Bank of America to administer its unemployment benefits, and Busby has frequently found herself incurring bank fees to get her money.

To withdraw her benefits, Busby, 33, uses a Bank of America prepaid debit card on which the state deposits her funds. She could visit a Bank of America ATM free of charge. But this small community in the state's rural center, her hometown, does not have a Bank of America branch. Neither do the surrounding towns where she drops off her kids at school and attends church.

She could drive north to Columbia, the state capital, and use a Bank of America ATM there. But that entails a 50 mile drive, cutting into her gas budget. So Busby visits the ATMs in her area and begrudgingly accepts the fees, which reach as high as five dollars per transaction. She estimates that she has paid at least $350 in fees to tap her unemployment benefits.

"It really boggles my mind," she said. "This bank is taking little bits of money out of thousands of pockets, including mine."

<snip>

More: http://www.huffingtonpost.com/2011/11/10/bank-of-america-debit-card-fees_n_1082329.html?ref=business

:kick:

A parasitic, vampiric blood sucking squid stealing more tax dollars in the form of unemployment funds.

Shame on everyone in government who voted to allow BoA to administer unemployment benefits.

The state is at fault for privatizing a public service. Without doing any research, I'd bet that SC is Republican controlled.

but if she lives in Cordova, SC, there are 6 BOA's within about 5 miles.

On edit:
The link I posted wasn't all that helpful but Orangeburg, SC is less than 5 miles away and has 6 BOA's.

What if they cannot afford the gas...

Have had their car repossessed...

Don't think that multi-billion dollar blood-suckers shout be allowed to get away with this...

:shrug:

to this woman even though it's fifty miles to her nearest BOA, so she'd have to drive 50 miles to save the 5 dollars because she has no other choice... except that's not true. Should BoA be charging transaction fees on these debit cards? I say no, but if the woman were complaining that she had to drive 5 miles to save 5 dollars, it wouldn't be nearly as good of a story, would it? Finding someone to give you a lift 5 miles down the road or even walking 5 miles down the road is manageable for many people, doing the same over 50 miles is beyond what anyone would consider reasonable.

And you HAVE to know that the reporter knew the closest BoA was only 5 miles away (it took me less than 30 seconds to find out and it's not even my JOB to verify the facts), but decided to go ahead with that part of the story anyway.