Wells Fargo to Test $3 Monthly Debit Card Fee

creditcard3 150x150 Wells Fargo to Test $3 Monthly Debit Card FeeWells 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.

What do you think of the fee?

To read full article, click here: http://detnews.com/article/20110822/BIZ01/108220312/1001/biz

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About America Monge

Marketing Intern at Council of Better Business Bureaus, Arlington, VA.