Free Not Fee – Banks Charging for Debit Card Usage

Date August 18, 2011

If you are one of the millions of consumers in the U.S. that enjoys using your debit card, can you imagine paying a $3 monthly fee for that convenience? No, I can’t either.

Chase Bank and many others have been charging a fee for debit card usage since February in certain areas. Today it was announced that starting October 14, Wells Fargo will jump on the FEE wagon and will charge customers in Georgia, New Mexico, Nevada and Oregon $3 a month to use their debit card. I know that annually that’s only $36 but it’s the principle of the matter. What will they charge for next? First they get rid of their Free Checking, then they do this. If you’re as appalled as I am, why are you still banking there? Switch to a credit union, such as MCCU, that still offers Free Checking and is not charging for the use of a debit card.

I understand these big banks offer convenience with several branches and ATMs, but at what cost? Why not join a credit union that offers its members Shared Branching and CO-OP ATM access all over the country, including 7-Eleven stores?

Don’t give the mega banks any more of your hard-earned money. Make the switch to a credit union and treat yourself to a latte instead.

 

One Response to “Free Not Fee – Banks Charging for Debit Card Usage”

  1. Bank of America to Charge $5 Monthly Debit Card Fee | Matadors Money Matters said:

    […] already talked about banks charging debit card fees here, but yesterday it was announced that BofA will charge a $5 monthly fee, just to use your debit […]