Comments on: Banco Popular changes its ways http://blogs.reuters.com/felix-salmon/2010/11/23/banco-popular-changes-its-ways/ A slice of lime in the soda Tue, 18 Jun 2013 21:59:52 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: TFF http://blogs.reuters.com/felix-salmon/2010/11/23/banco-popular-changes-its-ways/comment-page-1/#comment-21265 TFF Wed, 24 Nov 2010 18:58:10 +0000 http://blogs.reuters.com/felix-salmon/?p=6291#comment-21265 Agreed, transparency and employee training/communication are important. And that is the issue more than the fee itself. Agreed, transparency and employee training/communication are important. And that is the issue more than the fee itself.

]]> By: hsvkitty http://blogs.reuters.com/felix-salmon/2010/11/23/banco-popular-changes-its-ways/comment-page-1/#comment-21263 hsvkitty Wed, 24 Nov 2010 18:27:11 +0000 http://blogs.reuters.com/felix-salmon/?p=6291#comment-21263 Transparency includes how the transaction is stated on the bill. And if it is a transaction fee it should be written as such and each and every time along with the withdrawal, not a lump sum. Mine are done that way. (and here in Canada still almost always $1.50) One thing about an ATM is you do NOT HAVE to plan ahead and carry too much cash in your wallet. It not only can burn a hole sitting there, but constantly pulling a wad of cash is like saying rob me please. I never carry more then a hundred on me. It also wasn't much ado about nothing in that Felix tried to clarify and the employee muddled the answer. Having fees be transparent by saying exactly what they are for is the only way to ensure employees and customers understand. The bank muddied it's own waters and Felix cleared it up. Congrats to Popular bank for their comments on the previous blog. Transparency includes how the transaction is stated on the bill. And if it is a transaction fee it should be written as such and each and every time along with the withdrawal, not a lump sum. Mine are done that way. (and here in Canada still almost always $1.50)

One thing about an ATM is you do NOT HAVE to plan ahead and carry too much cash in your wallet. It not only can burn a hole sitting there, but constantly pulling a wad of cash is like saying rob me please. I never carry more then a hundred on me.

It also wasn’t much ado about nothing in that Felix tried to clarify and the employee muddled the answer. Having fees be transparent by saying exactly what they are for is the only way to ensure employees and customers understand. The bank muddied it’s own waters and Felix cleared it up.

Congrats to Popular bank for their comments on the previous blog.

]]> By: TFF http://blogs.reuters.com/felix-salmon/2010/11/23/banco-popular-changes-its-ways/comment-page-1/#comment-21260 TFF Wed, 24 Nov 2010 16:16:31 +0000 http://blogs.reuters.com/felix-salmon/?p=6291#comment-21260 Much ado about nothing? Many banks charge $2 for an out-of-network transaction. It is mildly outrageous (since it doesn't cost them nearly that much to pay off the ATM owner), but should not come as a surprise to anybody these days. Engels apparently visited an out-of-network ATM five times that month. Perhaps he should plan ahead to avoid that need? Much ado about nothing?

Many banks charge $2 for an out-of-network transaction. It is mildly outrageous (since it doesn’t cost them nearly that much to pay off the ATM owner), but should not come as a surprise to anybody these days.

Engels apparently visited an out-of-network ATM five times that month. Perhaps he should plan ahead to avoid that need?

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