Author Topic: "Banking" at GameStop  (Read 4611 times)

MustachianAccountant

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"Banking" at GameStop
« on: March 20, 2014, 09:11:31 AM »
I don't even know where to start with this one. Maybe with WHO are these people who "can't" get bank accounts, that would need to do something like this??? I can open an account at my local credit union with $5. It's probably even less than that with a CaptialOne360 or Ally account...

http://www.businessweek.com/articles/2014-03-19/how-to-turn-gamestop-into-your-no-fee-bank

dcheesi

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Re: "Banking" at GameStop
« Reply #1 on: March 20, 2014, 09:19:30 AM »
Sure you open an account for $5, but is it free of fees? Usually the introductory accounts have various fees attached; usually most of them are waived if you keep a minimum amount in the account, but the people we're talking about here are living paycheck to paycheck and can't manage that. And for someone like that, even a small monthly fee can eat into what little they do have pretty quickly.

Khao

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Re: "Banking" at GameStop
« Reply #2 on: March 20, 2014, 09:22:15 AM »
This is a stupid article. You should never take anything posted on 4chan as serious. This should have been an article on The Onion and not in Business Week.

gillstone

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Re: "Banking" at GameStop
« Reply #3 on: March 20, 2014, 09:24:01 AM »
Some people really can't get a bank account.  When I worked for a local bank we ran new customers through a system to see if they were flagged by their prior banks.  Typically those who were turned away had overdrafts at other banks and had not paid the associated fees.  Sometimes we could get them into a savings account, but otherwise viewed them as too high a risk to give them a checking account. 

JR

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Re: "Banking" at GameStop
« Reply #4 on: March 20, 2014, 10:12:37 AM »
Maybe with WHO are these people who "can't" get bank accounts, that would need to do something like this???

People like my mother who purposely overdrew checking accounts with no intention of ever paying the money back.

MustachianAccountant

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Re: "Banking" at GameStop
« Reply #5 on: March 20, 2014, 10:43:01 AM »
Sure you open an account for $5, but is it free of fees? Usually the introductory accounts have various fees attached; usually most of them are waived if you keep a minimum amount in the account, but the people we're talking about here are living paycheck to paycheck and can't manage that. And for someone like that, even a small monthly fee can eat into what little they do have pretty quickly.

Yes, it is free of fees. Banks < Credit Unions.

warfreak2

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Re: "Banking" at GameStop
« Reply #6 on: March 20, 2014, 04:46:11 PM »
This is a stupid article. You should never take anything posted on 4chan as serious. This should have been an article on The Onion and not in Business Week.
+1

The other thing about fees is, he has to be even more careful with this account, because if he doesn't keep perfect track of which games he's preordered and how many, then GameStop will keep deducting $60 "buying-a-video-game" fees.
« Last Edit: March 21, 2014, 08:59:09 AM by warfreak2 »

fantabulous

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Re: "Banking" at GameStop
« Reply #7 on: March 20, 2014, 08:36:05 PM »
This is a stupid article. You should never take anything posted on 4chan as serious. This should have been an article on The Onion and not in Business Week.
+1

The other thing about fees is, he has to be even more careful with this account, because if he doesn't keep perfect track of which games he's preordered and how manny, then GameStop will keep deducting $60 "buying-a-video-game" fees.

Could this be the start of a troll banking series?

fauxjargon

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Re: "Banking" at GameStop
« Reply #8 on: March 21, 2014, 05:57:49 AM »
This is obviously a joke.

The real hustle is buy a game for $60 new on release date, sell on craigslist etc. it a few weeks later for $45 sans packaging (you "lost it") and before the return window is up (90 days typically), buy a copy for even less than $45, then return it for a full refund with your original packaging.  The difference between what you sell the game and then re-buy it for is your profit.

Again, not really serious, but if you want to play games on release date for free...

halfshellmeijin

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Re: "Banking" at GameStop
« Reply #9 on: March 21, 2014, 08:38:22 AM »
This is obviously a joke.

The real hustle is buy a game for $60 new on release date, sell on craigslist etc. it a few weeks later for $45 sans packaging (you "lost it") and before the return window is up (90 days typically), buy a copy for even less than $45, then return it for a full refund with your original packaging.  The difference between what you sell the game and then re-buy it for is your profit.

Again, not really serious, but if you want to play games on release date for free...

Can you return games after opening them? At least at Target you cannot because it leads to people buying the games, then copying them or ripping them... So I am not sure your plan is iron clad. Also see Movies, Software, and CDs.

arebelspy

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Re: "Banking" at GameStop
« Reply #10 on: March 21, 2014, 08:53:56 AM »
The other thing about fees is, he has to be even more careful with this account, because if he doesn't keep perfect track of which games he's preordered and how manny, then GameStop will keep deducting $60 "buying-a-video-game" fees.

Then you just return them (same time when you go pick it up, you don't even take it home), still sealed in package.  I don't see that as a problem.

Article was hilarious though.  4Chan is definitely the place mainstream media should be getting its news info.

I thoroughly enjoyed it.  :D
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warfreak2

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Re: "Banking" at GameStop
« Reply #11 on: March 21, 2014, 09:04:33 AM »
OK, I've never shopped at GameStop (and I'm not sure they even exist here), so I don't know about their returns policy. I just had a silly mental image of your investment "maturing" but the return is a shiny plastic disc.

arebelspy

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Re: "Banking" at GameStop
« Reply #12 on: March 21, 2014, 09:15:48 AM »
OK, I've never shopped at GameStop (and I'm not sure they even exist here), so I don't know about their returns policy. I just had a silly mental image of your investment "maturing" but the return is a shiny plastic disc.

"I'm heavily invested in CDs."
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AlanStache

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Re: "Banking" at GameStop
« Reply #13 on: March 21, 2014, 09:58:08 AM »
Quote
"I'm heavily invested in CDs."

shakes head slowly, and walks away.