WILL THAT BE CREDIT OR DEBIT?
THAT IS THE QUESTION!
In a recent report from CNN news banks are considering allowing your debit to a limit of $50 to use for your purchases. The article stated that the reason for the witholding limit is that retailers do not wish to pay 44 cents charging fees for those who use debit card purchases. These are known as interchange fees. There may be new fees for retailers according legistrature that will regulate slashing the fees to only 12 cents for retailers. This source of capping is according the the Wall Street reform. However, if this happens banks will then pass their charging fees along to the consumer and adding debit cards fees at a higher price charges.
In conclusion..that $50 dollar limit may very well be the limit you'll be able to charge on your debit card and in addition your bank may offer additional charges for your using the debit cards to buy your purchases.
Is this the wave of future?
Charges and fees for buying goods and services.
Ode' to the consumer...
That's a hidden fee.
Always ask, read and follow up your banks new fees and find out what's expected if you are accepting to use their cards. It's well worth 12 cents a swipe!
Posted By: MIISRAEL Bride
Thursday, March 10th 2011 at 5:02PM
You can also
click
here to view all posts by this author...
