Debit Card Limits

Chernabog · 03-10-2011, 05:05 PM

My understanding is that the banks were overcharging the places that took Mastercard/Visa, etc. on the debit cards to begin with. With the legislation, they'll still make huge profits, but not as huge as before.

How much does it actually cost for a transaction? A penny or less?

If forced to, I would rather pay a yearly fee than have a cap on my card. I almost never have more than $10 in my pocket (and usually, it's no cash at all in my pocket) But more likely, and as pain in the arse as it would be, I would stick my money in whatever bank or credit union DOESN'T charge the fee.

03-10-2011, 05:05 PM	#12
Chernabog Biophage Join Date: Jan 2005 Location: The Moon Posts: 2,679	My understanding is that the banks were overcharging the places that took Mastercard/Visa, etc. on the debit cards to begin with. With the legislation, they'll still make huge profits, but not as huge as before. How much does it actually cost for a transaction? A penny or less? If forced to, I would rather pay a yearly fee than have a cap on my card. I almost never have more than $10 in my pocket (and usually, it's no cash at all in my pocket) But more likely, and as pain in the arse as it would be, I would stick my money in whatever bank or credit union DOESN'T charge the fee. __________________ And they say back then our universe Was a coal black egg Until the god inside Burst out and from its shattered shell He made what became the world we know ~ Bjork (Cosmogony)
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