Welcome To The Company Store, 2013
 

this is indeed scary

http://www.nytimes.com/2013/07/01/bu...anted=all&_r=0

I think we should be worried.

Here is the Company Store's payroll manager

https://www.netspend.com/


this stuff really pisses me off...workers getting paid with debit cards with fees?

Netspend and American Traffic Solutions...talk about a messed up America.

I like the idea of an OP and only the OP can respond to the OP...sort of like Political Chat megalomania

What is the fee to the company for direct deposit? I don't know if the banks charges for this service on their side ( I'm sure if they can they will).

Amerika in the 21st century.

"The land of the fee, and the home of the slave."

I'm sure our elected officials will soon raise their collective voices against this outrage. I can hear them now, they sound like "crickets".

Chas

I think that the big banks somehow think that they are entitled to a cut of every single financial transaction made in this country. By virtue of the banks bankrolling politicians, I wouldn't look for them to change it. The GOP was outspoken in its opposition to the creation of the Consumer Financial Protection Bureau, the newly formed organization formed to deal with such abuses.

Here is an answer from the linked article: "a calculator on Visa’s Web site estimates that a company with 500 workers could save $21,000 a year by switching from checks to payroll cards."

So in effect Visa is getting free use of the payroll money till it's spent and on top of that gets additional fees to disburse it. What a great racket and another example of how it pays to be the middle man.

We love our middle men and will cling to them till the end....:rolleyes:

Of course, who doesn't love PayPal on BT? :D

Wow. That's great. Yet another way to help the rich get richer at my expense. And if my employer should decide on my behalf, without consulting me, that this is the way I want to go I can always go work somewhere else. Except that I'm sure by the time I'm done typing, nearly every employer will have made this decision for us as well.

Amerika, "...land of the fee and the home of the slave."---Chas

Dave

I think they were opposed as to what they consider is a lack of oversight, but what to I know.

The disinformation and outright lies circulating in this country makes it difficult for me to come to a rational decision.

But I do know that after congress "fixed" the credit card problem a few years back, my rates doubled, along with my line of credit. I was a "valued customer", according to a letter I received from whoever had my business card account at the time.

This was such an insult to my intelligence that I promptly closed that account...only to find out that the rest of them weren't any better.

Since then, I've only carried a balance perhaps three times, generally due to my lackadaisical approach to billing. I hate to give those thieving bastards a nickle, but it's worth fifteen bucks or so every now and then so I don't have to sit up all night auditing accounts when I don't want to.

I guess paying around 50 bucks or so in interest over the last 4 years or so isn't too bad as they generally give me back around 1K every year. But I still hate their guts.

Chas

I pretty much agree with everything you wrote. FWIW, I've never run a balance on a credit card in over thirty years. Scoundrels.

I suggest it were the lobbyists and not the congress that did the deed. And then for doubling your rate they give you double the enticement.
We then get to watch these guys being bailed out. :mad:

I do not understand why workers would accept this. It would be better to just wait in line and get paid in cash like in the old days.

Everytime I pay a card off, something breaks. Then, before I can pay that, something else breaks..............

Dave

When you die can they get your credit card debt?
Say your house is paid off and you leave it to a child...will they come after the child for the unpaid balance? Can they? I know it is unsecured debt....

Once you're dead, I'd say you're beyond caring about credit cards.

Dave

that is why they will never let us do what I think Edward G Robinson did in Soylent Green...remember the death emporium?

I haven't always been able to just write everyone a check until the last few years. Since then, I've taken quite a liking to this debt free living, I don't even want to borrow money to make money.

Perhaps I should reevaluate my position on this, but I find the thought of paying ANY interest to be so loathsome that I've become overly narrow minded on the subject.

Chas

Becoming Muslim, are ya?;)

They won't come after the child, but they will come after the house...unless the child takes possession before your death. You might also be able to take a lien against the property and place it in both of your names. I know Florida used to be a popular place to go belly up, as it's bankruptcy laws allowed one to hold an inordinate amount of real property while shielding one's self from his creditors. I think the laws may have changed on this, though.

But done correctly, you can still give the money changers a good screwing from beyond the grave. Just talk to a lawyer and an accountant first, so that you do it right.

A thought which has just brightened by day!

Chas

Sharia Law does have some good points.

Chas

Because they have bills stacking up they need the job and they are desperate.

To some employers this presents opportunity. A "market condition" to be exploited shamelessly. We used to consider it despicable to "take advantage" of people in that fashion. Now, we cheer them on. Because we fear long term unemployment.

Dave

thanks! Food for thought....my house is held in a trust, with my daughter as the main beneficiary when we are gone. I will buy all that Mcintosh stuff with plastic just before the two minute warning goes off lol