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USAA Bank Ends Debit Card Rewards Program

Thursday, July 7, 2011 - 1:29 PMUSAA Bank - Details
From MyBankTracker.com
USAA’s debit card rewards program is the latest casualty as a result of the new debit card swipe fee rules that were recently finalized.

USAA Bank has announced that it will be ending its debit card rewards program on September 1 due to the new federal law that is set to diminish debit interchange revenue that banks receive from merchants on debit card transactions.

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WhataBummerWhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,702
1. Thursday, July 7, 2011 - 3:07 PM
Thanks for noting this. USAA actually did a press release on this.

It should be noted that they have $48 billion. Small banks under $10 billion are exempt from the cap. So hopefully, we won't see these changes from the small banks.

At least they are keeping their checking account free with the same ATM fee refund policy.



 
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Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708
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