A $5 fee for using your own bank debit card?

[qtrdhd]

I heard about this and think it is craZy.  It makes me so grateful for my credit union.  Maybe if people start switching from these places they will stop.

[tracya1981]

So it is not enough for bank of america to charge me $12 a month to have MY money in their bank,  But now they will want to charge me more for spending MY money?? WHAT IS THIS WORLD COMING TO?? How money hungry are people going to get before they realize they are all out of morals and respect for their fellow humans?

[kingreyam24]

That is the most ridiculous thing ever. Any little way to make a dime and they jump on it. I would definitely switch banks if mine did something like that. I don't use my debit card that often any way. I use my credit card for everything, even bills, then pay it off immediately with my checking account. That way I get all the points from using my cc and never have have to pay any interest.  I've made over $3000 in points since I got my cc in 2007. 

[jzmom]

I bank at the small bank in town.  No debit fees if using their ATM and if you have to use an ATM elsewhere, the bank will reimburse you up to so many a month.  No fee for using the debit card to pay for anything.

[raven1114]

the only debit card i use is the one for my daughter's SSI. if i draw money out of an ATM then yes fees apply however i can go to most stores and draw out money with my purchases for free.

[swkstudent]

That's ridiculous, thank God my bank isn't doing that. I would leave Bank of America or any Bank charging five dollar fees for using your own debit card. 

[jwallbank]

I think that that is terrible to have to pay such a huge fee for accessing your own money. I know some companies when you pay with a credit or debit card they charge you too!  I don't get it!

That is why!!! The durbin ammendment to the Dodd-Frank bill made all this happen!! The bill limits how much they can charge on a CC charge Fee to the banks, they are just getting their money somewhere else!!!Since the bill limits the amount of What they can charge on the CC Fee's now they are charging on the Debit card accounts. I deal with a Credit Union and have a Debit/CC. If I use it, I always state that I want it used as Credit, You don't receive any charges then. I don't know if they have this option on the Debit cards from banks but, I would check!!

[gaylasue]

When and if my bank starts charging me to use my debit card, I will switch banks.  If all start charging, I'll use my credit card or start using cash more often.

[kingozzy]

I would switch banks for sure.  Plus I have been getting in the habbit of using cash more and more so when i take out cash I take it out directly from the bank with no fees

[tashamjoy]

I have heard about this too bank of america charging thank goodness i do not have that bank i have chase but that will probably be soon i am sick of this stuff why are we paying to make all the rich richer !!!!!!If they start doing this i dont know if i will use a debit card i like debit cards because they are fast and convient but do i need i dont think so !!!!!! I mean i could see if i can do without because this is ridicuolous !!!

[eman27]

This is one of the worst implementation schemes by the banking system that I have yet to see.  It's like we are being charged for every single thing in life; like we don't have enough expenses already.  It makes me wonder what is the real purpose of banks (saving your money or saving your money so they can take what you worked hard for). 

[jaymz462]

November 5th is "Move Your Money To a Local Bank" day.  Anyone who can, should.  These too-big-to-fail banks will always find new ways to cheat us out of our money.

[squirrelgirl44]

I recently filed bankruptcy so I now rely on a debit card because I have no credit cards. I would switch banks in a heartbeat if they charged my $5 just to use my card. That's just crazy.

[jenbou]

i think it is ridiculous for them to charge to access your own money. I don't use my debit card often - I try to stick to cash whenever possible. Pretty soon there will be fees for EVERYTHING.  I used to bank somewhere that charged you for calling in to speak to a live person.  Can you believe that?  $2 to speak to a person because computers can't answer everything!  needless to say, they didn't have my business long after that started.  I left BOA before this $5 fee came about because they took away the rewards/points program that I was in as well.  Seems like businesses these days don't care about customer loyalty anymore.  My mom used to pick a bank/insurance company/pharmacy etc & stay with them forever.  I had to teach her that she doesn't benefit from that anymore like back in the good ole days when loyalty mattered.

[hawkeye3210]

Are you guys all under the impression that is doesn't cost the banks a dime when you use your debit card for purchases?  Well, it does.  I understand that you don't want it to "cost" you when you use your money, but it really doesn't makes to think that it should cost the banks when you do.