Monday, November 23, 2009

Banks Starting To Charge Debit Card Fees!

The online articles say that you should check your receipts to make sure that you are not being charged a fee for using your debit card!

It seems that since President Obama wants to crack down on the ways that banks charge for credit card fees the banks have found an alternative source of generating some income for themselves and that alternative is to charge people for using their debit cards.

It seems that this year more people used their debit cards than they did their credit cards which has been the first time that this has happened.

It seems that a number of banks are coming up with something called "loyalty" programs for their debit card users. However the terms still require either a fee or that the debit card user meet specific terms to be eligible for the loyalty program.

According to one online site:

"Consumers need to have an eyes wide open perspective when it comes to financial services. Fees are going to be cropping up, but that also gives you a chance to comparison shop. There may be just as many good deals at the other end of the spectrum."

To read more about this and view the article, just click here.

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