What next for banks after failed debit fee experiment?

Large banks enacted fees after government let merchants pay less for each debit card transaction


Published: November 13,2011

Tags: Bank of America, Banks, Chase, debit fee, debit-card, Regions, SunTrust, Wells Fargo

Dead in a near blink of an eye.

That’s how history will chronicle the big idea banks had for ginning up revenue through a monthly fee to customers for debit-card transactions.

Perhaps you can blame awful timing. Parks in cities across the nation began filling up with protests against Wall Street and the banking system at about the same time the likes of Chase, Wells Fargo, SunTrust and Regions initiated their fees. While the fees didn’t cause the protests, their roll out gave the demonstrators one more grievance and account holders extra aggravation.

The public directed much of its ire at…


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