Released: October 29, 2011

Chase Bank won’t impose debit card fee

Source: Ann Carrns, The New York Times

JPMorgan Chase has decided against adopting a monthly fee for account holders who use debit cards for purchases. Chase, one of the country’s largest retail banks, had been testing an account that included a $3 monthly fee for debit card use. But the test, which began in February and was limited to two states, is ending next month and won’t be extended or expanded, said a person with knowledge of the bank’s plans who did not want to be named because the bank has not announced its decision. (The development was first reported by The Wall Street Journal.)

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