Debit Card Fees Come For Those Who Use Plastic

Boston (ChatterShmatter) – Bank of America has announced that they are going to charge customers for using their debit card for purchases.

The charge is going to be a $5 per month fee that customers are going to have to pay to use plastic to pay for items.

The nation’s largest bank is going to start adding the fee onto bank users in January of 2012.

The expectation is that other banks are going to quickly follow, including Chase as well as Wells Fargo.

Smaller bank institutions seem the most reluctant to add the fees, in fear of simply losing customers.

The only way to avoid the debit card fee will be to pay for cash, or to switch to a bank that does not charge a bank fee for utilizing plastic for your purchases.

What are your thoughts? Have the banks simply gone too far by charging for using debit cards?

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