Wells Fargo & Co. will begin to charge customers $3 per month for any debit card transactions. This “trial” period will commence in Oregon, New Mexico, Nevada, Georgia and Washington in October, and will not affect customers elsewhere unless they opened their account in one of these states.
According to The Detroit News, this program comes as the banks are looking to regain lost “swipe fees” that merchants pay when customers use debit cards in their stores. The bank will closely monitor customers attrition and review whether they will expand the program or not.
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To read full article, click here: http://detnews.com/article/20110822/BIZ01/108220312/1001/biz