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Released: November 01, 2011
More banks drop monthly debit fees
Source: Sandra Block, USA Today
SunTrust Bank and Regions Bank have joined the list of banks that have abandoned plans to charge customers a fee for using their debit cards.
Atlanta-based SunTrust said Monday that it has eliminated a $5 monthly debit-card fee scheduled to take effect Nov. 2. Customers who have already paid the fee will be reimbursed, the company said.
On Friday, Wells Fargo announced that it has canceled plans to test a debit card fee in five states. JPMorgan Chase, which has been testing the fee in two states, has decided not to extend the fee when it expires this month, according to a source with knowledge of the plan who isn’t authorized to discuss it.Regions Bank, based in Birmingham, Ala., said late Monday that it has also eliminated its $4 monthly debit card fee and will refund fees already paid.
Read Full Article: More banks drop monthly debit fees
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