30
Nov

Banks' newest game: Debit card fees

Posted by admin

According to  new published reports the banks are considering levying a fee on your debit card in the near future. The reason for the shift from the big financial institutions could be simple.  For the first time, Americans have spent more on their debit cards than on the credit cards which were partially responsible for the recession.

There are a few trends that the experts see here including Americans unwillingness to get themselves in the kind of debt they used to be comfortable with. As well, the banks are becoming more and more stringent with the terms of the number of credit cards they issue. All this translates into people using debit cards more and more.  In fact, they are expected to spend nearly two thirds more than they did only four years ago.

Of course that means the banks are looking to get their fair share of this shift in usage. According to one expert, both large and small banks are looking for ways to levy a fee on debit cards to help make up for lost revenue.

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