Have you been bracing yourself for another monthly fee from your bank? Some banks have been implementing and testing a monthly fee for customers who use their debit cards at retailers.
Recently, a few banks (like Chase) have said they'll scrap plans for such a fee. They may have seen how customers and the media reacted to Bank of America's $5 monthly charge, or they may have come to the decision independently. Either way, these fees will be a lot less common than expected.
Is this a good thing? Maybe, maybe not. Banks will still want to make up for lost revenue, and they'll just find other ways. Those methods might not be so easy to spot and quantify, so keep an eye out for creative fees and stagnant interest rates.
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good information thanks
banks will surely find ways to earn revenue. it’s always the consumer who pays for it.