No debit card fees at Chase or Wells Fargo

[Free4Life11]

Guess it's not "only a matter" of time until all banks charge the fees...smart decision for Chase & Wells to make B of A and others charging fees look bad.

A month after Bank of America got pummeled by consumers and lawmakers for introducing a monthly debit-card fee, other big banks are backing off plans to charge customers for using their debit cards.

JPMorgan Chase has decided not to charge customers to use their debit cards, according to a source with knowledge of the plans but who isn't authorized to discuss the matter.

Wells Fargo also announced late Friday that it has cancelled plans to test a debit card fee in five states. "Wells Fargo remains committed to helping our customers succeed financially and we believe this decision is in the best interest of our customers," a Well Fargo spokesperson said.

http://www.usatoday.com/money/perfi/credit/story/2011-10-28/chase-debit-card-fees/50980342/1

 

[Crazy4Disney06]

Yeah but being a former member of Wells Fargo they have plenty of fees that far exceed the fee BofA is going to charge for debit card use. I hate that BofA is charging, but thankfully since we have a mortgage with the as well we will be excluded from the fee.

 

[Marionnette]

Somehow I don't think that Wells Fargo grew a heart and changed their plans. I having a feeling it has more to do with the fall out BofA suffered from their decision.

 

[nunzia]

Guess it's not "only a matter" of time until all banks charge the fees...smart decision for Chase & Wells to make B of A and others charging fees look bad.



http://www.usatoday.com/money/perfi/credit/story/2011-10-28/chase-debit-card-fees/50980342/1

wow..I didn't see that and the bank hasn't sent me anything but I'll look into it. I opened my WF account in Nevada and even though I now live in New Mexico was going to get hit with that fee so just put my debit card away. Kiinda like going back to cash so maybe I'll just keep it that way

 

[LilyWDW]

Somehow I don't think that Wells Fargo grew a heart and changed their plans. I having a feeling it has more to do with the fall out BofA suffered from their decision.

Exactly... and I will be shocked if it really lasts that long.

From a business Financial perspective, I under the fees.

From a consumer perspective, I don't like the fees.

Yea, my brain argues with itself... but I did move my money from BoA. The consumer side won out.