Big Banks Decide Against Debit Fees

October 28, 2011 by staff 

Big Banks Decide Against Debit Fees, It seems that many of the big banks are retreating from threats to raise rates debit card, reports the Wall Street Journal.

After Bank of America was hit by his decision to blow users of debit cards under $ 5 per month, JP Morgan Chase, U.S. Bancorp, Citigroup, PNC Financial Services Group, KeyCorp and have said they will be adding quotas, but as they say is not a reaction to the Bank of America disorder. “We looked at all options and quickly decided that did not fit with our overall strategy,” says a spokesman for KeyCorp.

Chase, who has been testing a monthly fee and 3 in Wisconsin and Georgia, will end the practice next month. But Wells Fargo is currently running a test in five states, and SunTrust Financial and Regions are joining Bank of America with a monthly fee, a move that other banks are expected to attract new customers your way.

“It’s not about money. It is ‘Are you kidding?’” Says one U.S. customer Bancorp, which said it would “immediately” to the left to the left of the bank if a commission was instituted, but now they have to.

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