Tag: merchant establishments

New Regs Spur Wells Fargo Monthly Fee For Debit Cards

Wells Fargo has started a pilot program in several parts of the country to understand how customers will respond to a monthly fee on their debit cards. [1] The bank, which holds the distinction of being the second-largest bank in the U.S. in terms of deposits held, will charge a $3 monthly charge to all customers who use their debit or ATM card for making purchases at merchant establishments. JPMorgan Chase, Regions Financial Corp. and SunTrust Banks Inc. have already started charging fees on their cards to varying degrees. Bank of America has also hinted at joining this list soon. We currently have a $32 price estimate for Wells Fargo, [...]