Sunday, June 26, 2011

Debit cards poised to get much more expensive

According to this LA times article (HT: qualia8):

The bottom line is that banks stand to lose more than $10 billion a year in merchant fees and more than $6 billion in overdraft fees. They'll be looking to make it up somewhere — and it's likely to be from the mainstream debit card users, not just the sloppy ones.

More incentive to switch to a lower-friction medium of exchange.

1 comment:

  1. Yes it is true in some cases that plastic debit cards are expensive but the benefits are more then expenses.
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