Contact Us

Better Business Bureau: Watch for New Bank Fees

Getty Images

UNDATED – Some banks are adding new fees for using your debit card.  And that has the Better Business Bureau advising you to check your bank statements closely.

Recent changes in banking laws capped the “swipe fee” that banks can charge retailers for debit transactions.  The average fee was 44 cents per transaction, but the new law caps that fee at 21 cents.  Banks estimate they will lose hundreds of millions of dollars a year in debit card transaction fees, and are looking to recoup that money by modifying various checking account fees.  Some of the nation’s largest financial institutions already have announced a flat $3-$5 monthly fee for debit card use.

The Better Business Bureau is advising you to be on the alert for notices from your bank about changes in the terms of your accounts.  You may want to ask your bank if there are any programs to waive the fee.  Also, it pays to shop around; some financial institutions may continue to offer no-fee debit cards.

More News from WJON

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://wjon.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on AM 1240 WJON quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on AM 1240 WJON quickly by logging in with your Facebook account. It's just as secure, and no password to remember!