UPS Check (Cheque) Card

LKLND3380

Well-Known Member
Did anyone else get hit up to cancel your current payroll (paper or electronic) and sign up for a UPS Check Card?

Seems that we can have the option to use this ATM card that UPS will deposit money in... I see it as a way for UPS to collect interest on our money since it doesn't leave their account until you use it... Then you get hit with a fee for each charge you make and I would imagine UPS hets a percentage of that as well...
 

wornoutupser

Well-Known Member
Hmmmm,

That sounds like the good ole company store to me.

UPS wanted to try that in the last contract. It was called a violation of the Railroad Act of 1800 something then. Here we go again!
 

wornoutupser

Well-Known Member
Hey Lakeland,
What is up with the sudden moves in our area for management? It appears that there were moves across the entire division.
 

toeknee2gx

Well-Known Member
Its much cheaper to issue electronic advices w/o stubs and it will save alot of paper and money. I like the idea because it will allow those who dont have checking accounts or dont want one, to have a sort of "direct deposit" when they go on vacation or miss work. I get alot of people in that situaion that work in my area.
 

LKLND3380

Well-Known Member
Its much cheaper to issue electronic advices w/o stubs and it will save alot of paper and money. I like the idea because it will allow those who dont have checking accounts or dont want one, to have a sort of "direct deposit" when they go on vacation or miss work. I get alot of people in that situaion that work in my area.

Yeah but UPS is collecting interest on YOUR money and you are paying UPS a percentage each time you buy something with that card...
 

LKLND3380

Well-Known Member
Hey Lakeland,
What is up with the sudden moves in our area for management? It appears that there were moves across the entire division.

The business managers?
NameFromToTom PeelerSt. PetePt. RicheyTom Acquaviva Lake WalesBayshoreNeil PostBayshoreSt. PeteCharlie O'NeilPt. RicheyLake Wales
 

gandydancer

Well-Known Member
So do the Banks so whats the problem?
Good point, but it just sounds like a bad deal. Plenty of banks will give you free checking, free checks, online billpay, a savings account, and a place to go to get at your cash if you lose the ATM card, in return for direct deposit.
 

athena

Well-Known Member
So do the Banks so whats the problem?

Banks pay YOU interest on YOUR money...
UPS collects interest on YOUR money until you use it...
quote]

Actually, the banks invest your money with other people (i.e. loans) and they do make money off the interest from those types of investments. Would you prefer the bank make money off of you or the company you work for. It seems the more successful UPS is the more likely we are to have jobs.

Also, you usually only collect interest if you have enough money in the bank. For people who have enough money coming in that they don't have to worry about living paycheck to paycheck, then you might make some money on the interest. I am a student and never have much money floating around plus I don't have a checking account. I don't need one expect to cash my check which costs me about $15-$25/paycheck. It is money I am willing to pay b/c I don't want a checking account. Personal reasons.

Good point, but it just sounds like a bad deal. Plenty of banks will give you free checking, free checks, online billpay, a savings account, and a place to go to get at your cash if you lose the ATM card, in return for direct deposit.

"Free checking" is relative. You have to be pretty good with your accounts to not ever get charged something (i.e. overdraft, transfer fees, etc.) That being said, I don't think people should be forced to use a UPS card anymore than I should be forced to get a checking account. I would love the option of the card, it would save me some serious cash by not having to cash my check.
 

athena

Well-Known Member
Then you get hit with a fee for each charge you make and I would imagine UPS hets a percentage of that as well...

Do you know that there would be a charge for using an ATM? Are they not going to work with a bank to help avoid this charge?
 
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brett636

Well-Known Member
I haven't been asked to switch over to that, but I have worked at other places who had that option. Its a screwjob because you have to pay fees to access your money. Usually the first withdrawal is free then they charge for each time you use it afterwards. So you have to withdraw all your money from the ATM at once or let your paycheck get eaten up by fees. Thats why having a bank account is mandatory if you ever plan on getting ahead in life.
 
U

UPS Capital UPSer

Guest
Yeah but UPS is collecting interest on YOUR money and you are paying UPS a percentage each time you buy something with that card...


Wrong. Like Toeknee stated, the motivation for this would be that UPS saves payroll administration money on this; they don't "make" money. Payroll funds would exit UPS's accounts just as they do today. The difference is that funds would be paid to a 3rd party administrator (who will charge UPS a fee) and they will manage the employee's account.
 

LKLND3380

Well-Known Member
"Free checking" is relative. You have to be pretty good with your accounts to not ever get charged something (i.e. overdraft, transfer fees, etc.) That being said, I don't think people should be forced to use a UPS card anymore than I should be forced to get a checking account. I would love the option of the card, it would save me some serious cash by not having to cash my check.

You should be able to sign up for it as of last week... Check with your HR or Center Manager... They probably didn't do a PCM on it yet or didn't get the memo yet...
 

athena

Well-Known Member
I haven't been asked to switch over to that, but I have worked at other places who had that option. Its a screwjob because you have to pay fees to access your money. Usually the first withdrawal is free then they charge for each time you use it afterwards. So you have to withdraw all your money from the ATM at once or let your paycheck get eaten up by fees. Thats why having a bank account is mandatory if you ever plan on getting ahead in life.

First, if they didn't charge me the first time, I would just take all my money out the first time and then voila, I don't have to pay. It's not like a cash my paper check in parts, I get the money all at one time.

Second, I must be an exception to the rule (as well as a few others I know) about needing a checking account to get ahead in life. I will soon have my doctorate degree (already have bachelors and masters) and be making great money at something I love to do. Funny how not having a checking account hasn't stopped me one iota.
 

traveler

Where next? Venice
I am a student and never have much money floating around plus I don't have a checking account. I don't need one expect to cash my check which costs me about $15-$25/paycheck. It is money I am willing to pay b/c I don't want a checking account. Personal reasons.

I will soon have my doctorate degree (already have bachelors and masters) and be making great money at something I love to do.

Not to disparage you education but you do need some help in practical financial matters. Every employer, as far as I know, MUST provide a place (bank or otherwise) where you can cash your check at no cost to you! Unless the laws have changed since I retired, that is still the case.

PS: I should not have to press 1 for English :mad: ...

My travel agent has an automated system that continues in English after a short message in Spanish asking those folks to press "7" for information in Spanish. :thumbup1:

I have no problem with that in the USA. :wink:
 

athena

Well-Known Member
Not to disparage you education but you do need some help in practical financial matters. Every employer, as far as I know, MUST provide a place (bank or otherwise) where you can cash your check at no cost to you! Unless the laws have changed since I retired, that is still the case.

Two things, 1) I am not studing finance/business etc. which would lead to me knowing this and 2) I am around highly educated people all the time, you are the first to ever mention this. So don't worry, you are far from disparaging my education. That being said, I will look into it. Usually I just use the bank the check is drawn on but I can't do this with my UPS check as the bank is not close to where I live.

PS: I should not have to press 1 for English :mad: ...

My travel agent has an automated system that continues in English after a short message in Spanish asking those folks to press "7" for information in Spanish. :thumbup1:

I have no problem with that in the USA. :wink:

This was meant to make a point. It was in response to other tag lines. I could care less if you have to push 1. I think white people (especially white males) are desperate to hold on to the control they currently have. As there are a growing number of minorities, they are being seen as a threat and one response is to try to control and dominate them. There are other solutions. Like for example, if a Spanish-speaking individual must learn English than and English-speaking individual should learn Spanish. There are too many Spanish-speaking individuals in this country and on their way over to ignore/control them any longer. Most citizens of first world countries already learn at least their native tongue and English and typically at least one other language. America is already low enough on the education totem pole, pressure for our children to learn other languages will only benefit this country.
 
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