Banks Revamping Rewards Programs to Woo Customers

A new survey has asked Americans what they would do if their bank started charging them a debit card fee. The majority (about three-quarters or so) have said that they would have switched to another payment form.

However, even though all banks eventually decided against charging a debit card fee, the aggregate volume of debit card transactions has been growing at an ever decreasing rate in the U.S., while the exact opposite is true for credit cards. The point is that the banks seem to have got exactly what they wanted by driving people away from the now-unprofitable debit transactions. http://blog.unibulmerchantservices.com/how-would-you-respond-if-you-were-forced-to-pay-a-debit-card-fee

Jay G of CA 4:45PM January 31, 2012