As we have seen over the last few months our financial institutions are here to help us. Help us spend – that is.
Some time back I took a short term position with an employer who payed by issuing debit cards and direct depositing the EOW pay. I was new in the area so I signed up with the bank that handled the employers business and had the direct deposits sent there.
It wasn’t long before I began finding the hidden costs associated with the use of the card. It also became very clear that the employees at the low end of the pay scale were losing way too much of their earnings to miscellaneous charges.
Read more about the practice of debit card – bank deals in this MSNBC article.
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