Welcome To The Company Store, 2013

[icenine]

this is indeed scary

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

I think we should be worried.

[icenine]

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?

[icenine]

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

[Rex E.]

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).

[Rajoo]

Originally Posted by Rex E.

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).

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.

[Rex E.]

Originally Posted by BeamOn

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....

[Rajoo]

Originally Posted by Rex E.

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

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

[Charles]

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

[finnbow]

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.

[Charles]

Originally Posted by finnbow

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.

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