Bopo fees excessive?

Bopo fees

Originally uploaded by cameronreilly

I was scanning my Bopo Visa card statement this morning and I noticed they charge a 25 cent fee every time I use the card and a $1.00 fee every time I top up the card with funds (it’s essentially a debit card). I’m no expert on bank fees, but does this seem excessive to you? I’m not sure if it’s just that i’m seeing the fees broken out individually for every transaction instead of seeing them aggregated as a single monthly line item and that’s grating on me or if they really are excessive. Thoughts?

6 thoughts on “Bopo fees excessive?

  1. Why do you have a bopo visa? They are using the US card model to charge high ongoing fees & are quite an expensive solution. It is similar in charging model to gift cards in US – google “gift cards” and “simon” to see some press. Might want to consider a Visa debit card from a bank (of course, after reading appropriate PDS & considering your personal financial situation).

  2. Kate gets it right. If not a bank try a credit union, I don’t own a credit card but I have a couple of visa debit cards which I use like a normal card. There is a small monthly charge but zero on use.

  3. Well I think uve gotta be smart about how u use it … all my siblings have one … and I can just sms and transfer money to them …. wherever in the world they might be … I gifted one to my sis with a her babys pic on it .. she went crazy … but yeah I dont pretty much use it everywhere …

  4. Hehe, when you first mentioned Bopo I checked and thought it sounded like a huge ripoff, simply for the coolness factor of your logo. I didn’t want to say anything then and ruin your moment, though… 😛

    I’ve got a home loan with CBA, so all my accounts (savings, cheque, VISA, overdraft, etc) are free of monthly and all transaction fees. So when I saw the costs Bopo was listing, I didn’t bother looking any further.

  5. Ben, I’m sure CBA are taking their pound of flesh out of you in other ways, so perhaps it balances out? I’m not convinced yet that Bopo is overly expensive. My initial shock has worn off a bit when I compare it to other fees which are usually billed in a single hit.

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