Consumers now paying ‘per-swipe’ fee on debit card purchases

First they charge up to $5.00 per transaction at the ATM machine... Now we can look forward to both monthly charges AND per swipe fees for the privilege of using a bank debit card while shopping.

It’s time to start carrying cash again, consumers.

Read the infuriating article in the New York Times…

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SHORTCHANGED: States Charging Unemployed Fees To Collect Benefits

WASHINGTON — Many states shortchange the jobless by distributing unemployment benefits on debit cards loaded with obnoxious fees, according to a new study by the National Consumer Law Center.

Of the 40 states that have switched from paper checks to prepaid debit cards, 22 states’ cards charge ATM fees, 24 charge balance inquiry fees, and 28 charge inactivity fees. The cards in Arkansas, Idaho, Nebraska, Ohio, and Oregon come with overdraft fees ranging from $10 to $20.

And in Connecticut, Iowa, Rhode Island, and Tennessee, cardholders “must pay for every ATM inquiry or pay a denied transaction fee if they request cash when their balance is insufficient,” the study says.

 

Tennessee stands out for having the card with the most “junk fees,” the study says. Tennessee’s card, provided by JPMorgan Chase, charges $1 for initial ATM withdrawals, 40 cents for balance inquiries, and 25 cents whenever someone swipes the card at checkout. It’s one of just four states that doesn’t provide even one free ATM withdrawal per deposit.

Read the full article in the Huffington Post…

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