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Patch Poll: Feeling Effects of New Debit Card Fees?

With banks adding fees for debit card use will you change your financial institution or how you pay?

Convenience now comes at a price. 

This week The New York Times reported that Bank of America will start charging customers a $5 monthly fee when they use their debit cards for purchases. Chase and Wells Fargo are testing a $3 one and some regional banks a $4 monthly fee.

These changes come after an amendment was passed to limit the amount of fees banks can charge merchants each time a customer makes a purchase from themusing a debit card.

Patch wants to know how these new fees will affect you? Will you stop or limit your debit card use? Move your money into a different bank?

Tell us in the comments section below or vote in today's Patch Poll.

Yankee Man October 01, 2011 at 05:22 PM
Dear Fellow Citizens Let me explain how the banks work....they work the same way that you business does.. TO MAKE MONEY....everyone wants to use atms and debot cards and no one wants to pay for it. LOL. If high interest rates on credit cards, atms fees, and now debit card fees are to much for you bear then how about this . Dont use them !!! There was a time in this world, when people actually took their pay check, deposited some and kept the rest to make purchases with. Some how my mother managed to keep us all clothed and fed by making cash purchases !!!! I have not gone to an ATM ( unless an emergency) in my life. I see people go all the time. Today I watched a guy at 7-11 take out $20 . The machine charged him $3, and I assume his bank did as well. So his $20 cost him $26. This is why people have no money.. they do not understand simple rules of spending and saviing money. Do you think any of our parents in the 1960's or 1970's would have ever given money away in that manner. No way. Those people would drive around the block if gas was 1 cent cheaper at that gas station. Again....tried of ATM fees, high credot card rates, and now debit fees... DON'T USE THEM LOL.. The banks are a private business and they have every right to charge whatever they want for a service. We have the right to dont support them. The power belongs to us, but can we be disciplined to use it !!
Art October 02, 2011 at 12:02 PM
Was about to give up on finding any intelligence here, but then saw Dan's comment. Restored a bit of my faith. Of course, banks have to make money to survive. The government decides that they are going to change the rules for the banks, well, of course the bank is going to come up with another source of revenue. Unlike the govt, they can't just print money. But if you don't like a particular bank's fees, there's always another bank you can go to.
Bill Breuer October 02, 2011 at 01:16 PM
It is amazing that we are stressed by a $5.00 monthly bank charge, but sit still while the Malverne Village Board slowly taxes, spends and borrows us out of existence, without so much as an annual financial statement and an itemized statement of debt in our mail boxes. At least the bank sends a monthly statement. We are numb while the Board of Trustees secretly borrows, and charges us, $850,000 to build a gift for the Volunteer Ambulence corps. But, for $5.00 extra a month, we will abandon our friendly neighborhood bank. We are right to consider changing banks. Isn't it about time that we learn to extend the same consideration and concerns to the friendly members of our Village Board.
Paul Brandel October 02, 2011 at 05:37 PM
Paul - that is a dsgraceful, cowardly, and statement that you made - I have flagged it as inappropriate - regardless of who it is about. Given that it is about the McDonalds it is naive also .You obviously have never met either of them and are totally ignorant. They are two of the most gracious, sensitive, hard working, and sincere people that have ever existed.
dan October 02, 2011 at 05:51 PM
It's one thing to disagree with policies, it's another to take personal shots. Bullying is low. What kind of man would say that? Who you are as a person is determined by what comes out of your mouth. Think before you act and speak next time and ask yourself, Is this the man that I am?

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