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More debit card transactions are processed in stores in the US
A study carried out by the Federal Reserve Bank of Boston demonstrates that more debit card transactions are processed in physical stores in the US. The firm operates an average of almost 32% of consumer payments via this method per month.
If you have never considered the prepaid credit or debit cards before, you may be confused as to what their purpose is, or how they benefit the users.
>If you do not know it yet, Costco stores do not accept any credit card except for American Express (Amex).
Chase, and Citigroup Decide Against Debit Card Fees
(Newser) – It looks like many of the big banks are backing down from threats to raise debit card fees, reports the Wall Street Journal. After Bank of America was pounded over its decision to slap debit card users with a $5 monthly fee, JP Morgan Chase, US Bancorp, Citigroup, PNC Financial Services Group, and KeyCorp have all said they will not be adding such fees—though they say it's not a reaction to the Bank of America mess. "We looked at all options and quickly decided it didn't fit with our overall strategy," says a spokesman for KeyCorp.
Read more here.
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If you have a checking account with Wells Fargo, look out: The megabank is about to start charging some customers $3 a month to access their own money.
