NEW YORK (CNNMoney) -- Yet another of the nation's top banks is flirting with the idea of charging a monthly fee to customers who use debit cards.
Wells Fargo (WFC, Fortune 500) said Tuesday it will start charging a $3 monthly fee for debit card usage to customers in Georgia, New Mexico, Nevada and Oregon beginning Oct. 14.
7 comments:
I personally think anyone who uses a debit card tied directly to their primary checking account is an absolute moron! Like I'm really going to risk someone stealing my debit card number, or a merchant double charging me, or any number of things that can happen and risk my mortgage payment bouncing! Or that $3 cup of coffee (no i don't buy, example) costing $33 when it overdrawls my account.
This is the exact reason to use American Express for everything, you charge your gas, groceries those types of things to it, at the end of the month you pay it off. No interest, no charges, etc.
If you can't qualify for Amex, then perhaps Paypal's debit card, or get one of those prepaid debit cards at Walmart/Walgreens. Or surely you have one of those junk $1200 credit limit cards you can set aside for just this purpose (just always pay off at end of month so you're not paying 22% interest, is why a debit card is better).
If any of 8:27's things happen, my bank makes it good. But I can tell you if Bank of America does this debit charge I will be closing my accounts with them. I am just at the verge of being sick of all banks to be honest.
The banks have been pushing us for years to use these cards. I guess now that they have everyone using them they are going to charge for them. I hope the greedy banks lose even more money.
827 "overdrawl"?
If it charges $3, then should repay the customer for the fees when they use other ATM.
10:47 - sure overdrawl is when taking out a withdrawal you accidentally overdraw your account = overdrawl.
If banks start charging to use debit cards. I will start writing checks again! What a bunch of idiots! Then they will start charging you for writing checks! oh hell just keep your money at home. Sales of safes have risen ten fold in just a few months.
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