Limiting Debit Card Transactions? *sigh*

[Camelot Farms]

http://money.cnn.com/2011/03/10/pf/debit_cards_limit/index.htm

This article on CNN previews a new plan from banks to recoup their financial losses by limiting our access to our money.
At least one major bank is considering placing a $50.00 limit on all debit transactions.

*sigh*, I am so tired of beingpunished for Big Business failures and errors.

We use our Debit card just like cash. DH has direct deposit and so we seldom have cash on hand. I use our debit card to pay all of our bills and sadly none of them are under $50.00

Ridiculous.

 

[ChooksChick]

Quote:
They'll make even less off of us if we have to go back to writing checks, and I'm wondering if they really think the public will just cave in and pay a fee to keep using the cards for larger amounts. I won't pay them a measly $3 to use my card for a higher amount. I'll write checks. If they don't like that, I'll find another way.
They make billions in interest by housing our money and I won't be squeezed for another red penny. I have choice words that I'd put here, but I respect the minor members of our BYC community. Suffice it to say I've an itchy driving finger.

 

[nivtup]

Quote:
I for one will not accept this plan.

 

[justuschickens59]

I'm sick of being held at the mercy of our corrupt government and big business. I feel helpless. This is just another example of where the little guy gets screwed so the big guys can make even more $$$. *sigh* Maybe we should all go back to paying for things with money orders or cash. I would rather pay the PO for a money order than let the banks make more off me - only to have to be bailed out again in a few years.

 

[Katy]

I've never had a debit card so I guess it won't make any difference to me.....my kids all use them tho.

 

[A.T. Hagan]

Not all banks will do this I'm willing to bet. Someone will see a marketing opportunity there by advertising no limits to attract new accounts. Shop around if your bank does.

 

[Imp]

Gave up on big banks years ago. Went to a local credit union. So much better.

Imp

 

[speckledhen]

Quote:
Me, either. In fact, they made my card a straight ATM card, period. We insisted on it.

 

[classicsredone]

Quote:
Amen to that!

 

[Orchid]

Quote:
Me too and I agree!