That'll be $5, same as in town.
September 29, 2011 6:23 PM Subscribe
Banks to Make Customers Pay Fee for Using Debit Cards.
posted by VikingSword (194 comments total)
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'Bank of America, the nation’s biggest bank, said on Thursday that it planned to start charging customers a $5 monthly fee when they used their debit cards. It was just one of several new charges expected to hit consumers as new regulations crimp banks’ profits.'
'Wells Fargo and Chase are testing $3 monthly debit card fees. Regions Financial, based in Birmingham, Ala., plans to start charging a $4 fee next month, while SunTrust, another regional powerhouse, is charging a $5 fee.
The round of new charges stems from a rule, which takes effect on Saturday, that limits the fees that banks can levy on merchants every time a consumer uses a debit card to make a purchase. The rule, known as the Durbin amendment, after its sponsor Senator Richard J. Durbin, is a crucial part of the Dodd-Frank financial overhaul law.'