Verizon To Charge $2 For Paying Your Bill

ouzelproouzelpro Senior MemberPosts: 5,361 Senior Member
If you pay by credit or debit card its going to cost you $2 every time:

http://www.huffingtonpost.com/2011/12/29/verizon-convenience-fee_n_1174868.html

Replies

  • NZ IndicatorNZ Indicator Senior Member Posts: 9,717 Senior Member
    Consumer advocacy blog Consumerist, meanwhile, offers an eighth option for avoiding the $2 fee: Switching to another wireless carrier.

    Problem is that doesn't seem to be a viable option if you want the best coverage. VZW has us by the balls in that respect. AT&T is a close second for similar coverage and the others aren't even in the ballpark.
  • ouzelproouzelpro Senior Member Posts: 5,361 Senior Member
    The Verizon charge reflects the costs of using bank cards for transactions. I say use an electronic check, there's no charge from the carrier or the bank.
  • NZ IndicatorNZ Indicator Senior Member Posts: 9,717 Senior Member
    Verizon should just suck it up. They are profitable and the fee issued by CC companies for their transactions isn't going to eat up their profits by any stretch of the imagination.

    http://venturebeat.com/2011/10/21/verizon-earnings-more-than-double/
  • I pay Verizon by mailing a check how does that cost them less than a credit card payment?
  • BuffcoBuffco Senior Member Posts: 9,933 Senior Member
    You are aware that cc companies charge a usage fee to the merchant, right? It's usually around 2 or 3%, and if you multiply that by the millions of dollars they process, I'm sure the usage fees for Verizon are HUGE.

    If they can negate that, hey....profit.

    I'm surprised they're trying it with the recent fallout from the banks trying the same tactic. I imagine if this thing gets enough bad press, they'll can it.

    /Verizon subscriber
  • MikeAMikeA Senior Member Posts: 3,230 Senior Member
    What a great idea it was to replace real money with plastic cards and charge a fee to accept them. That has to be one of top best buisness ideas ever invented. It would have died within a week if they would have tried to push those fees off on the consumer first.
    What's messed up is the fees probably are being rolled on to the consumer in higher prices, which means cash customers are get screwed. We've let the banks add a tax to all our goods and most didn't even notice it.

    I'm really surprised the feds have allowed CC companies in on the take.
  • WetdogWetdog Senior Member Posts: 5,149 Senior Member
    I use checks or cash for 90% (probably higher) for all my transactions. It all was a scam from the beginning to make money for nothing---I wonder if their chicks were free?
    I have never used nor ever will use an ATM, now there is a con.
    I find the assault on free thought disturbing,
    I find the willingness to give it up frightening.
  • George KGeorge K Super Moderator Posts: 9,235 Senior Member
    Buffco wrote: »
    You are aware that cc companies charge a usage fee to the merchant, right? It's usually around 2 or 3%, and if you multiply that by the millions of dollars they process, I'm sure the usage fees for Verizon are HUGE.

    If they can negate that, hey....profit.

    I'm surprised they're trying it with the recent fallout from the banks trying the same tactic. I imagine if this thing gets enough bad press, they'll can it.

    /Verizon subscriber

    Verizon is big enough to do what Cabela's did - open their own bank and keep the money in-house, a truly brilliant solution. What they are doing now suggests that the management is asleep at the wheel, or at least never heard of Netflix.
    Keep your stinkin' government hands off my Medicare.
  • Wetdog wrote: »
    I use checks or cash for 90% (probably higher) for all my transactions. It all was a scam from the beginning to make money for nothing---I wonder if their chicks were free?
    I have never used nor ever will use an ATM, now there is a con.

    Indeed when a bank charges you to take money from their ATM is just wrong, but if you keep a few thousand dollars you get a pass. Class warfare?
  • George KGeorge K Super Moderator Posts: 9,235 Senior Member
    Wetdog wrote: »
    I use checks or cash for 90% (probably higher) for all my transactions. It all was a scam from the beginning to make money for nothing---I wonder if their chicks were free?
    I have never used nor ever will use an ATM, now there is a con.

    I pay my bills with checks from a no-fee checking account. It also pays interest, but these days that is mostly a theoretical benefit.

    For almost everything I buy I use credit cards that offer points I actually will use or cash-back, and do not charge net annual fees, and pay the balances in full each month. This is the best solution, IMO. It gets me a discount of 1-5% on everything I buy.

    OTOH hand I NEVER use a debit card for anything other than no-fee ATMs. The two largest gas station chains near me have no-fee ATMS, which makes it easy.
    Keep your stinkin' government hands off my Medicare.
  • WetdogWetdog Senior Member Posts: 5,149 Senior Member
    Our local small town bank is the only one I know of that has free checking.

    When the U.S. Postal Service closes, we all will be forced to use the credit card....then they will have us all. haha.
    I find the assault on free thought disturbing,
    I find the willingness to give it up frightening.
  • NZ IndicatorNZ Indicator Senior Member Posts: 9,717 Senior Member
    Wetdog wrote: »
    I use checks or cash for 90% (probably higher) for all my transactions. It all was a scam from the beginning to make money for nothing---I wonder if their chicks were free?
    I have never used nor ever will use an ATM, now there is a con.

    Interesting. My wife and I exclusively use our debit cards and sometimes she writes a check. The majority of our bills, including Verizon, are paid with our online bill pay service which is free at Associated Bank...which also offers free checking.

    With both of us receiving direct deposit from our employers it's rare that either of us carry cash. In order to have cash on hand I either have to run to an ATM or the bank to get it.
  • George KGeorge K Super Moderator Posts: 9,235 Senior Member
    Wetdog wrote: »
    Our local small town bank is the only one I know of that has free checking.

    When the U.S. Postal Service closes, we all will be forced to use the credit card....then they will have us all. haha.

    Join a credit union - lower cost, better service and often part of a regional group that honors each members' no-fee ATM cards. The only "bank" account I have is a USAA Bank credit card, because it offered better perks than my two credit unions and I have had all my insurance through USAA for many years.

    I very much doubt that the Postal Service will ever close, however much it may change. That would, I believe, require an Amendment to the Constitution.
    Keep your stinkin' government hands off my Medicare.
  • Scott ButnerScott Butner Senior Member Posts: 3,918 Senior Member
    I just wish I could have been a fly on the wall in the room where this move was decided upon. Certainly they had to have anticipated the adverse public reaction and the scathing media treatment -- what was the discussion around that like? I mean, was it more "f*k 'em if they can't take a joke!" or more along the lines of graphs and charts and studies depicting the cost/benefit analysis of consumer backlash, decay times for adverse opinion, costs of brand restoration, etc?
  • WetdogWetdog Senior Member Posts: 5,149 Senior Member
    George K wrote: »
    Join a credit union - lower cost, better service and often part of a regional group that honors each members' no-fee ATM cards. The only "bank" account I have is a USAA Bank credit card, because it offered better perks than my two credit unions and I have had all my insurance through USAA for many years.

    I very much doubt that the Postal Service will ever close, however much it may change. That would, I believe, require an Amendment to the Constitution.

    Our little International Bank of Amherst beats all the competition. We've been banking there for over thirty years.

    Not sure of the constitutional amendment thing, interesting. If that is the case it will for the most part disappear. Trouble is Fed Ex and the like won't be delivering the excess. Maybe a once a week delivery but as the offices close the routes are going to be huge...and more costly.
    I find the assault on free thought disturbing,
    I find the willingness to give it up frightening.
  • George KGeorge K Super Moderator Posts: 9,235 Senior Member
    joekrz wrote: »
    Interesting. My wife and I exclusively use our debit cards and sometimes she writes a check.

    For me, the issue with debit v. credit cards is that debit cards lack the consumer protections that credit cards have by law. Paying with your phone is just as bad.

    Also, when checking accounts paid interest higher than .25% why lose the float time on earning interest?
    Keep your stinkin' government hands off my Medicare.
  • NZ IndicatorNZ Indicator Senior Member Posts: 9,717 Senior Member
    As I mentioned before Scott, Verizon has their customers by the balls and they know it.

    If a person believes it necessary to have a cell phone and want the best coverage possible then Verizon is the only choice. AT&T is close second and the rest have lackluster coverage.

    Price wise they are all within a few dollars of each other but not enough to justify changing carriers. The plans that are much cheaper result in limited coverage areas.
  • George KGeorge K Super Moderator Posts: 9,235 Senior Member
    Wetdog wrote: »
    Our little International Bank of Amherst beats all the competition. We've been banking there for over thirty years.

    If our local banks still were locally owned and offered good service I would not have left them, but my credit unions are much better. The bank where my wife has had an account for 30+ years and where we keep a joint checking account for household bills has changed hands and names many, many times. I think it now is owned by Allied Irish Bank but would not swear to it. We all have our quirks, and one of my bride's is staying with that bank. At least she closed one acct there when they wanted to charge her $2 a month for a paper statement.
    Keep your stinkin' government hands off my Medicare.
  • MikeAMikeA Senior Member Posts: 3,230 Senior Member
    I just wish I could have been a fly on the wall in the room where this move was decided upon. Certainly they had to have anticipated the adverse public reaction and the scathing media treatment -- what was the discussion around that like? I mean, was it more "f*k 'em if they can't take a joke!" or more along the lines of graphs and charts and studies depicting the cost/benefit analysis of consumer backlash, decay times for adverse opinion, costs of brand restoration, etc?

    Sounds like the meeting where ATT decided if you want to send and receive texts or images on your smart phone you have to pay an extra $20 a month. I guess the thoughts were if you don't like it don't text, so I don't. The free texts apps work just fine so eff you ATT.
  • MikeAMikeA Senior Member Posts: 3,230 Senior Member
    ATT is in for another big budget cut from my household. After 20+ years of overpaying $45 an month for a landline I've decided to cut the cord and try Ooma. 1500+ reviews on Amazon and this thing still has a 4 star review.
    http://www.ooma.com/
  • fishingcomicfishingcomic Senior Member Posts: 22,472 Senior Member
    greenman wrote: »
    Indeed when a bank charges you to take money from their ATM is just wrong, but if you keep a few thousand dollars you get a pass. Class warfare?

    If you use your banks ATM there shouldn't be a charge. The only time I pay a fee is when I use an ATM at a liquor store which is like never.
    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • TrootfisherTrootfisher Senior Member Posts: 901 Senior Member
    If you use your banks ATM there shouldn't be a charge. The only time I pay a fee is when I use an ATM at a liquor store to buy my crack rock from the guy out front which is like every weekend.

    I have an idea where you could save a few dollars . ..
  • oc stomiasoc stomias Senior Member Posts: 348 Senior Member
    $2? Greentree Mortgage charges $10 to pay online by check.
  • Verizon backed off today. Seems they got Netflixitis.
  • BufordBuford Senior Member Posts: 2,900 Senior Member
    XM radio does the same thing. A $2:00 processing fee for the privilege of paying my bill. I always tell them to turn it off. Then they send me to someone else who tries to explain this nonsense and I respond with shut it down. Then I get someone else who offers me some ridiculously low offer that I end up excepting. I only have to do this twice a year, once I got an offer for the year. I regret not getting the lifetime subscription when they offered it. Paying for radio, something I never thought I would do.
    A fee to pay your bill, them folks is crazy.
    Just look at the flowers Lizzie just look at the flowers.
  • greenman wrote: »
    Verizon backed off today. Seems they got Netflixitis.

    Ding **** the fee is gone...
    http://finance.yahoo.com/news/verizon-reverses-2-fee-one-time-payments-202956036.html
  • **** beat ya to it by two posts.

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