Quote:
Originally Posted by knight_shadow
$2 per transaction? Wow. That's ridiculous.
I used to know the difference between using debit vs credit, but I can't remember. It's been several years since I've worked for a bank. I know that MERCHANTS have different fees for using one vs the other, but I wasn't aware that the BANKS did.
Interesting.
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I think that because merchants pay more to accept credit cards than they do for debit cards, your bank is making up the difference in their fee income if you choose to use your debit card.
This move by BofA is completely boneheaded. I had heard about Regions making this move, but hoped that BofA wouldn't follow suit. I'm shopping for a new bank. I have an account at INGDirect that I've been happy with, but I've never been able to completely let go of being able to visit a brick and mortar branch.
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