Everyday Living

Mourning the perceived death of the debit card

My husband emailed me this article today from Minnesota Public Radio. On the heels of Bank of America announcing they will be charging debit card users $5 per month, analysts are asking the question: Are debit cards on the downhill slope of their popularity?

As someone who has used their debit card as a primary mode of currency for the past five years, this news makes me want to shriek. I mean – I rarely use anything else other than my Wells Fargo debit card. (Incidentally, they are testing out a $3/month fee … luckily they haven’t tried that in Minnesota yet.) If my bank decides that a monthly fee is a good idea, I’m going to have to shop elsewhere for a bank. Or run more wholeheartedly to a cash only existence.

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1 thought on “Mourning the perceived death of the debit card

  1. I was amazed when I read about this myself. The way I understand, debit cards are MUCH cheaper for businesses and banks to deal with because the eliminate the CC middle man. I personally won’t keep or use mine anymore if there’s a fee, I will just do everything on my CC and pay it off monthly. I realize that even though we don’t have a direct fee for CC use, that we all indirectly pay for the CC system because businesses get charged per-transaction and they just pass that onto us in their prices. But somehow that seems a little more even/fair to me…

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