$5 fee for using a debit card?

Well by now I’m sure a few of you have already heard the latest.  That soon after the new year, banks will start charging you monthly for you using your debit card!  Some only $3 a month, others up to $10 a month!  Bank of America has stated they’ll be at $5 per month, Chase at $3 and so on.  What with their increases on their credit cards people backed away from them and switched to the less expensive debit card.  Now they increase the prices on the debit card to get you back on their high-priced credit cards!

Some are already looking for alternatives.  Cash, writing paper checks again or looking into credit unions are some possibilities.  As most banks are already going to the low-overhead way of doing business such as paperless and on-line banking only to increase their profits.  This I am thinking is just another stab in the dark in trying to find more sources of income for them.  More ways to gouge the public.  As if the bailouts weren’t enough!  Meanwhile keep an eye out for more ways the bank will use to separate you from your hard-earned money!

SparkChaser4

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