[njbchbum]

Originally Posted by dillywho

Didn't banks come up with the idea of debit cards instead of checks because they would be more cost efficient due to less handling, no expense to furnish checks, more security/less chance for fraud? That's just the short list.

So far, I haven't heard any justification for the change of now charging for using it other than "because we can." I could understand charging for replacement cards, but not for using them. (BTW, I don't do BoA, etc., either.)

i believe this has something to do with the legislation that now prevents banks from charging businesses that accept debit cards for payment as much as they used to. i think the swipe rate was cut in half from $0.44 to $0.22. as a result of that loss in revenue, banks are now permitted to pass that loss on to their consumers in the form of an add'l fee. i could be wrong, but i know that i am at least close to being right!