Wednesday, November 2, 2011 - 5:57 PM

After Giving Up On Debit Card Fees, What Will The Banks Try Next?

Just because debit-card fees are out of the picture for now, don't stop checking your bank statements.

It's not just other fees, this may be another reason for the banks to lower deposit rates. According to the article:

Banks could generate more than a billion dollars in revenue by simply lowering deposit rates by 0.01% a month, a study conducted by Market Rates Insight found.

At least they can't lower rates below zero percent.

KenBDG5,151 posts since
Nov 29, 2009
Rep Points: 117,107

1. Thursday, November 3, 2011 - 12:18 PM

At least they can't lower rates below 0%? You can bet they would if they could figure out how.

pearlbrown1,027 posts since
Nov 2, 2010
Rep Points: 3,956

2. Tuesday, November 8, 2011 - 6:15 PM

I think since sites like Facebook's "Bank Transfer Day" or Change.org's "Tell Bank of America No $5 Debit Card Fees" petition and others got so much attention, the banks will go after them or anyone who talks down on them or their company. Next time anyone complains about them they will be sued for slander, libel, defamation, etc. If it does come to that I hope people will still stand up for their right to free speech and counter sue the banks for emotional distress, damages for missed work, etc. It would be funny to see bankers and lawers go at each other.

EnronLoveChunk20 posts since
Oct 19, 2011
Rep Points: 65