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Big Banks May Impose Debit Card Purchase Limits

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  • #1

    Big Banks May Impose Debit Card Purchase Limits

    Saw this link - Big Banks May Impose Debit Card Purchase Limits | MyBankTracker.com

    Banks Could Limit Debit Card Transactions.

    I use my CC's for everything but still...
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  • #2
    I don't know why anyone does business with "big banks," honestly.

    Since I don't use big banks, nor debit cards, I could care less?

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    • #3
      "They are deliberating the possibility of placing a limit on each debit card purchase to $50 – $100, if interchange fees are capped"

      I use my two debit cards for the smallest purchases possible as I only have the cards in order to get increased interest rates on my "savings" in checking accounts.

      My accounts are at a credit union and a bank that is located only in my state. The credit union is actually bigger than the bank. However, terms they offer with debit cards depend, in part, on Visa.
      "There is some ontological doubt as to whether it may even be possible in principle to nail down these things in the universe we're given to study." --text msg from my kid

      "It is easier to build strong children than to repair broken men." --Frederick Douglass

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      • #4
        I think they'd actually lose business if they tried that. People would revert to writing checks. I never did get into using debit cards or ATM cards in the first place because of the fees. I like my checkbook (and don't consider it the least bit inconvenient, nor using cash, like the article says). I like having the written record that having carbons in a checkbook allows for in case I misplace a receipt.

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        • #5
          My debit card is NOT from one of the big 3 mentioned in the article but from a regional bank in my metro area. However, they just might follow the biggies. I mostly use the card at the bank's ATM to get cash.

          That said: I seldom use my debit card for purchases unless I run into a SPECTACULAR deal on something I want AND need like a closeout price on something for a bday gift. I tend to operate on a cash basis (controls my spending quite well) or use my cc.

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          • #6
            Big banks are idiots! Why would you bank at a large bank anyway? Small banks, online banks or Credit unions are the only way to go. I've been with mine for 20 years and they have always been awesome.

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            • #7
              It won't happen. They are too profit and shareholder driven. In order to keep making profits you must focus on the customer, and the customers won't let that happen.

              If they try it, customers will leave - and they'll have to change it back to restore lost profits. Or just keep losing customers...

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