Re:The debit card fee driving US banks crazy
by kileywm on Tuesday January 27, 2015 @04:36PM
(#8956131)
Summary:
-Card payment processing for major banks took a regulatory profit hit around 2010. Per transaction fees dropped from $0.44 to $0.21.
-The lost profit from transaction fees has simply shifted to more checking account fees for consumers from things like ATMs and minimum balance/direct deposit requirements to maintain a 'free' account.
-Card payment processing for major banks took a regulatory profit hit around 2010. Per transaction fees dropped from $0.44 to $0.21.
-The lost profit from transaction fees has simply shifted to more checking account fees for consumers from things like ATMs and minimum balance/direct deposit requirements to maintain a 'free' account.