Will it Cost More to Debit?

June 24th, 2011

Much like the US debt ceiling there is a current ceiling on how much banks can charge retailers for debit card transactions. The Federal Reserve is meeting this coming Wednesday to discuss the options of maintaining the current $.12 cap fee or raising the cap. Retailers have been protesting the actions made by the banks, but the banks have also lashed back stating they would lose over $10 billion dollars in revenue.

Oh poor, poor BOA and JP Morgan. God forbid they have to suffer a downgrade and let go of an unfair fee policy. Keep in mind the admins and CEO’s aren’t hurting, but you will be paying to use your debit card because even if the charge doesn’t come through on your card, you’ll be stuck in nuisance situations like $20 minimum purchases and higher prices and Dunkin Donuts.

Talk about a debit downer.

About the Author: megan

Megan is the Marketing Manager for Silver Circle who spends endless amounts of time on making sure the word gets out about this film and graphic novel! As a liberty activist since '08 she also has gained a passion for advancing liberty in her personal life and helping others to do the same. Questions about getting involved with the film, events, liberty, and hip-hop can go straight to her!