I have a car loan through Chase Bank. If I pay with a check and mail it in, there is no extra charge. However, if I pay by debit card online, they charge me $10 extra. It seems to me that it would cost Chase bank less money and time to process an electronic payment then it would be to process paper. Is it just me or is Chase Bank just charging me for the convience, even though it's a convience for them also?
2007-07-02 17:08:57 · 9 answers · asked by Riddick 2 in Business & Finance ➔ Other - Business & Finance
Because they can!!!!
Use online banking, Chase is set up to receive electronic transferrs from online banking customers, therefore the pymt is there within 24 hrs.
2007-07-02 17:13:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
When you use a debit card online if it has a MasterCard or Visa symbol. It is run through like a Cash Advance. So part of the fee is what they get charged for taking your card. The other is a surcharge. Under Visa and MasterCard rules banks can charge a fee for using the card as a Cash Advance. Even your bank could charge you a fee for doing this.
My suggestion, since they already know your checking account number. Is to sign up for online payment (Not automatic payment).
Don't use the instant payment option that usually has a fee.
2007-07-04 02:50:29 · answer #2 · answered by Anonymous · 0⤊ 0⤋
They are charging you because they can. They know most people don't want to bother mailing in a payment and usually pay at the last minute.
2007-07-02 17:12:39 · answer #3 · answered by alisjohnst 3 · 0⤊ 0⤋
You got it dead on: you are being charged for the convenience.
Note: are you sure? The places that I deal with only charge for last minute "rush" payments. If I pay a week early, there is no charge.
2007-07-02 17:14:36 · answer #4 · answered by Ted 7 · 1⤊ 0⤋
U R Right, its more cost effective for the Bank to do it online. Its another one of the Internet Rip-offs, and what I call Dum-Dum things that happen in this great country of ours! One day , everyone is going to protest , and maybe then it will stop.
2007-07-02 17:14:07 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Have you asked the bank this question. Ok, here is the thing. since you know it is cheaper to pay by mail then do it. I would much rather be out $0.41, than $10.00
Its your choice.
2007-07-02 17:15:30 · answer #6 · answered by Vicky C 2 · 0⤊ 0⤋
You sound as if you're referring to an already existent game in which the company did take such measures. And define, "such" measures. They've definitely taken measures, and I find games realistic but you're question is to vague to answer accurately.
2016-04-01 04:43:46 · answer #7 · answered by Jennie 4 · 0⤊ 0⤋
because they can AND they are hoping you will be late :) cause then they get even more (possibly even get to raise your rate
2007-07-02 17:16:37 · answer #8 · answered by tonkatruk_2001 3 · 0⤊ 0⤋
Because they can.
2007-07-02 17:12:12 · answer #9 · answered by shipwreck 7 · 0⤊ 0⤋