Banks preparing to charge for debit card usage

[mooby]

Originally Posted by Dirtbag59

A lot of them make big money selling the raw data they get regarding purchases and spending habits (which gets broken down by age, location, and gender). Charging people to use their debit card is a classic having your cake and eating it too scenario.

True but I think the main reason they're doing this is to make up for all the lost revenue as a result of the cap being put on fees banks charge retailers every time a person swipes their debit card. Since the cap is at 24 cents and the average fee before was like 44 cents banks have to make up that lost revenue somewhere else.