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Released: August 17, 2011
Wells Fargo’s $3 debit card charge: A sign of more bank fees to come?
Source: Ron Dicker, Daily Finance (Free Registration)
A new report emerged Tuesday that Wells Fargo (WFC) will begin charging some customers $3 every month to use their debit card -- further indication that banks are putting on the squeeze as new swipe-card regulations are set to take effect. Wells Fargo already sent letters to customers in Georgia, New Mexico, Nevada, Oregon and Washington that the fees will begin Oct. 14, according to MyBankTracker.com. That's just two weeks after Federal Reserve-mandated rules slash the amount banks can charge retailers for every debit card purchase. Regulators reduced the maximum bank take on each transaction from 44 cents to 24 cents.Read Full Article: Wells Fargo’s $3 debit card charge: A sign of more bank fees to come?
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