Bank changed fees need advice

[zoeyandmakennasmom]

My bank now charges me .25 every time I use my debit card. I know it's only .25 but dh's check is direct deposited and I use the card all the time. I already pay them $12 a month now with the .25 charges it will go up to about $22 a month! Do other banks have these same policies? It would take too long to switch banks, get new cards and have dh's check rerouted. So I was thinking about bringing travelers checks I believe I can get them free through AAA. Can they be used everywhere the debit card could be used. Or is it worth paying the .25 each time to use the card instead of the travelers checks while in disney, seaworld and discovery cove.Thanks in advance for advice

 

[disneysteve]

Personally, I always advise against traveler's checks because I think they are a pain in the behind. So much easier to swipe a credit card and be done.

In this situation, however, I think they may be the way to go. Paying an extra $.25 each time you use your card is ridiculous, especially at Disney where you may make 10 transactions a day between meals, snacks, souvenirs, etc. I don't use a debit card myself, but if I did I'd be out changing banks the minute that notice showed up.

First choice always, though, is a credit card with a good rewards program. If you are spending all the money anyway, why not get something in return - air miles, hotel stays, cashback, etc.

Steve

 

[maggiew]

I also would change banks. We have a credit union through my DH's work and there are NO fees. No ATM fees, no teller charges, no debit card fees. It really would take less than a day to change everything over to a new bank.

BUT ...
for this trip I would get the traveler's checks. It was quite easy, in my opinion. I just went to the credit union, plunked down my $500 and got traveler's checks. Get the kind that has 2 signatures so either you or your DH could use them. They took them everywhere at Disney that I tried to use them. Or you could deposit it in your room charge and then just use your room key to make purchases.

I wouldn't use your debit card at Disney. You will easily make 10 transaction per day (if you are like me) and that is $2.50 too much!

Maggie

 

[brandip22]

Check with a local bank, their fees are usually much less, if not free. Plus, they can usually get your debit card to you within a week. You aren't leaving for three weeks, so that should be enough time. Go ahead and get the account opened today. Then, just put the money in the new account with a check from your old account. You can worry about switching the diret deposit later- after the trip. I am a manager at a small, local bank and we don't charge many fees at all. It's funny that the big banks have been charging fees to their customers to use tellers so they would stop using them and use just their debit cards. The rationalle was that it cost more to hire tellers than it does to process the debit.Now that everyone's using the debit cards, they want that fee income, too. Push the customers out, then bring them back! Go with a small bank, you'll pay less and they'll know you, which could always come in handy!

 

[swilshire]

My credit union started charging for travellers checks, so I get them now from AAA. No fee to members.

I agree that the rewards credit card is the best. I charge everything. As long as you pay your balance at the end of the month, it is painless. I probably spend less than $20 a day in cash as Disney World. I always carry a few of the travellers checks for emergencies, but often just cash them all in when I get home. Or you can use them for groceries or whatever at home if you don't spend them.

Sheila

 

[zoeyandmakennasmom]

Thank you so much for the advice. I do plan on changing banks as soon as we get back but until then I'll be taking out cash at their ATM to pay for things I normally use the card for. I wish I'd recieved the notice about the change in fees. I honestly don't remember getting it and I read all mail from them very carefully. The change from $7 a month to $12 was just a few months ago.I told the woman at the bank that I never saw that notice and she said that the would not reverse the charges. I guess everyone could just say they never saw it and that's why they won't do anything about it. I did tell her that I would be looking in to switching banks and she didn't seem to care. Anyway it looks like travelers checks for us.
Thanks again

 

[zoeyandmakennasmom]

The bank is a local bank however their merging with a larger bank. That is a good idea about opening a new account then just doing manual deposits and worry about changing the direct deposit later.

 

[ceecee]

I would not pay .25 per transaction! Why not just use a credit card and pay it off with one check at the end of the month? Choose a good one with rewards and that way you'll get a little added bonus. We didn't even get travelers checks the last few times. We took enough cash to have for smaller purchases and charged everything else, we used our Disney charge so all our vacation expenses were on one card (we usually use our airline card to get the free miles).

 

[GoldenOldie]

If you are staying at a Disney resort, just set up a room charge during check in. That way you can charge everything to the room and only have to pay it once when you leave or, if you charged a lot, one additional time when they process it when it reaches the limit. That way, you don't have to keep using your debit card for every transaction. You use the resort ID instead.

 

[zoeyandmakennasmom]

I just spoke to a woman at another local bank and I think I can get everything changed over in about 2 weeks.Which will leave about a week before we leave to make sure everything is set. At the new bank there are no fees for anything and if my balance is over $100 I get intrest. I wish I had looked at what other banks were charging a long time ago. Thanks for the help.