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Occupy Wall Street Debit Card = Crap

8/10/2013

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Don't get this piece of shit!  They proclaim that this is the anti-bank for the 99%.  If that's true then why do they want to rake you over the coals with fees?  Maybe it's because they figured out that they have to. 

Here's a quick list of the fees from marketwatch.com: 
The card’s fees include a monthly fee of 99 cents, 99 cents for an ATM balance inquiry (although it’s free to view online), $1.99 fee to purchase a second card and $9.95 to replace a lost card. There’s no purchase fee, but other charges include $4.95 to add money to the card, imposed by third-party services at retailers like Wal-Mart, 7-Eleven or CVS, and $2.80 to add money from a credit or debit card.

There's a ton more than this, but these are the most basic.  The most hypocritical part?  The more money you put on your card the less your fees get!  WTF?!  Isn't this the complete opposite of what they were preaching?

If you can't beat them, I guess you join them.  That or they're realizing that you can't run a bank or have financial transactions without somebody paying for them.  Click the link below to see how they were once praised for getting the big banks to lower fees.  Now they're just doing the same thing.  

http://www.usnews.com/opinion/blogs/leslie-marshall/2011/11/02/thank-occupy-wall-street-for-banks-backing-off-debit-card-fees


Folks, I saw them when I was visiting NYC a few years ago and I respect what they're trying to accomplish.  Large bank do have too much control in this country and they create a very real systemic risk, but there are much better ways of going about fighting them.  This is not it!

If you want to help yourself and hurt a bank, then go to a cash based system.  "Green backs" leave no tracks, and they're fee free.  They also don't let you over pay for things that you don't have money for. 

If you're not this extreme, look at doing business with your local credit union.  With credit unions, you become one of the partners with the union and they take that money and lend it out to people in the community.  You very well could pay more for a loan and/or pay more in fees, since these communities don't have the economies of scale that the mega monster banks do.  They also usually keep your loan in house, so if you have a problem they're not scrambling to find the owner/paperwork of the loan spread all over the world.       
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    This website was created due to the atrociously misguided financial advice that I've heard over the decades.  Financial freedom is not intellectually strenuous, but it takes discipline. 

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