I think paying a fee to supplement the fees they're already getting from the merchants, overdraft fees, low interest rates, and the savings they're getting from not having to process checks is more than enough. I used cash and a credit card until this summer when a credit union offered a high dividend on a checking account if I use the debit card for 12 purchases. Now I use a lot less cash, a debit card and credit card.
Brian On Sun, Sep 11, 2011 at 3:30 PM, Allan Streib <str...@cs.indiana.edu> wrote: > Brian Toscano <brian.tosc...@gmail.com> writes: > > > The fee is also starting to be charged by other banks. The reason for > > the monthly fee is claimed to be the reduction in fees caused by the > > Dodd Act which limits the amount of fees banks can charge merchants > > for swiping debit cards. > > I don't totally begrudge the fee, as I find debit cards highly > convenient. Remember the days of having to carry cash or a checkbook > around everywhere? There is a definite value to the concept of a debit > card. > > However on the margin, the debit transactions cost the banks almost > nothing and even with caps on the merchant fees they are still basically > printing money for themselves by processing debit transactions. > > Fortunately there will likely always be a bank hungry enough to offer > fee-free debit cards. It just may mean needing to shop around a bit. > > Credit Unions may be somewhat less likely to charge such fees. > > Allan > -- > 1983 300D > 1979 300SD > > _______________________________________ > http://www.okiebenz.com > For new and used parts go to www.okiebenz.com > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > _______________________________________ http://www.okiebenz.com For new and used parts go to www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
