The debit card fee driving US banks crazy

Re:The debit card fee driving US banks crazy by trias on Tuesday January 27, 2015 @05:04PM (#8956326)

I don't understand this market. In Germany all bank interactions are basically free, you pay nothing (or little) for a bank account, everyone gets one (by law), credit cards are free and if you're lucky you also get about 1% of interest on your money. Why do american banks have to charge that much?

[ Parent | on HN ]

Re:The debit card fee driving US banks crazy by thesimon on Tuesday January 27, 2015 @05:19PM (#8956463)

If you pay with your EC card (Germany's own debit card system), the merchant pays at least 0,3% with a minimum of 0,08€ for the transaction. The payment is guaranteed and thus similar to US debit cards.

The merchant can also use direct debit, which is almost free (0,05€ for fraud prevention), but leaves him open to chargebacks.

[ Parent | on HN ]

Re:The debit card fee driving US banks crazy by iopq on Tuesday January 27, 2015 @05:05PM (#8956340)

They charge this to merchants, not to the users.

[ Parent | on HN ]

Re:The debit card fee driving US banks crazy by vilmosi on Tuesday January 27, 2015 @05:13PM (#8956406)

Read the article again

[ Parent | on HN ]

Re:The debit card fee driving US banks crazy by iopq on Tuesday January 27, 2015 @05:20PM (#8956469)

It says retailers, not consumers

[ Parent | on HN ]

Re:The debit card fee driving US banks crazy by adventured on Tuesday January 27, 2015 @05:23PM (#8956497)

I'm in the US and I don't pay anything for my bank accounts, checking or savings. I also don't pay anything for a debit / check card. I never have in fact. It varies by the bank.

[ Parent | on HN ]