$3/Month to use Debit Cards. Wells Fargo Charge

Discussion in 'Politics' started by Bear12feet, Aug 19, 2011.

  1. Bear12feet
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    Bear12feet Member

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    A new report emerged Tuesday that Wells Fargo (WFC) will begin charging some customers $3 every month to use their debit card -- further indication that banks are putting on the squeeze as new swipe-card regulations are set to take effect.

    A chain reaction was already in effect before Wells Fargo acted. In March, JPMorgan Chase (JPM) began assessing a $3 service fee for debit card use and $15 for checking accounts in certain regions, according to reports. Chase has also pondered the idea of capping the amount per debit-card purchase at $50 to $100, along with other major institutions such as Citigroup and Bank of America, the New York Post reported.

    In another strategy to offset anticipated losses from the upcoming Fed reductions, Bank of America (BAC) already raised its ATM fee to $3.

    Read more......

    Wells Fargo's $3 Debit Card Charge: A Sign of More Bank Fees to Come? - DailyFinance
     
  2. Full-Auto
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    Full-Auto Gold Member

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    This was already posted.

    I bank at Chase. No fees or charges. In fact they continue to give me reward points for using it as a credit card after they announced they wouldnt.

    Cabella bucks, got to love them.
     
  3. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    I bank @ Capital One and Whitney... neither charge fees.
     
  4. Bear12feet
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    Bear12feet Member

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    Credit cards are basically high interest loan.
     
  5. BoycottTheday
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    BoycottTheday CEO

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    Not if you pay them off when the bill comes, then its a free float, i love charging on the 1st of the month.

    :eusa_angel:
     
  6. Bear12feet
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    Bear12feet Member

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    If farmers and fishermen say I will sell my crops and foods at 10 times higher price because many companies are charging premium and fees then what will happen?

    Farmers and fishermen are also equally affected by high inflation.
     
  7. BoycottTheday
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    BoycottTheday CEO

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    Um, what?
     
  8. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    It's not free. Merchants pay a very high fees for these transactions, and that cost is baked into the prices they charge.

    I use cash as much as possible when doing business with local business owners. I'd rather see them keep more of the money.
     
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  9. BoycottTheday
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    BoycottTheday CEO

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    Free to me, plus i get buyer protection not available for those who pay in cash.

    If im not happy, i just give Visa a call and tell them my story.

    Win win.
     
  10. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Nothing's really free, bub.
     

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