Banks preparing to charge for debit card usage

I understand that there is no such thing as free lunch but also have no problem switching banks.

If they want to have my money free of charge and use it to make loans and other leveraged investments the least they can do is not charge me to have access to my dough.

I bank with Citibank who's already ridiculous. So I wouldn't be surprised if they start charging to use the debit option. Few years ago the apr on my credit card shot up from 11% to 18%. I pay on time so they dumped it down to 16% a year or two ago. But I'm still paying ridiculous interest every month. I'm thinking about calling them and asking to see if they can lower it anymore considering I've had this stupid credit card since I was about 21-22 and I've never paid late.

I get charged $8.50 monthly service charge for my checking account. I have a debit card but sometimes I use the credit option. Guess I'll always be using the credit option

There is talk that people that used a certain debit card will be charged $5 a month, along with it totaling up to $60 a year! Forget the name of the credit card but think, it could be a Visa.

Be careful about using credit cards instead.
Bank of America fee to benefit bank, despite angry customers - Sep. 30, 2011 (http://money.cnn.com/2011/09/30/pf/bank_of_america_fee/)

bank regulation called Dodd-Frank to thank for this one. You seriously didnt think the finacial industry was gonna cut its bottomline in response? Big corporations always win in this country.

Exactly right. But guess what? If they don't "win" they're out of business.

Middle America, the poor, and the working class may hate it, but, that's the way businesses exist. If they don't make a profit, they disappear. They have to answer to their shareholders. The first person who decides to be charitable and eats the loss in the face of a loss of revenue, the shareholders will say "see ya" and it's on to the next dude who makes sure they stay in the black by the widest possible margin.

0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! EVERYBODY! 0 Blitz! 0 Blitz! ..............0 Blitz?

0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! 0 Blitz! EVERYBODY! 0 Blitz! 0 Blitz! ..............0 Blitz?

you're constantly comic relief. :headbange

I often wonder how my bank even makes any money off my accounts. With one bank I have 5 checking accounts with free checks both personal and business and they don't charge me any service charges. I have only purchased business checks once last year and this time the bank paid.

I often wonder how my bank even makes any money off my accounts. With one bank I have 5 checking accounts with free checks both personal and business and they don't charge me any service charges. I have only purchased business checks once last year and this time the bank paid.


You're a business man and you don't know what your money sitting on your account does for them?

Well, they could use it to make loans to people who can't afford it, they could issue credit cards to broke college students, or they could lend it to other businesses on the verge of going out of business. With the measly cost of checking and checkbook they could make prime rate return on your money or lose it all like most banks did the last few years.

What? Banks don't make a killing on checks and nickle & dime fees? ;)