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From what I heard, anything but going to an ATM and taking out cash is a debit transaction. And that will cause the fee.
If there's no way out of it, I would look at a small local bank or credit union. Credit Unions are non-profit.
I don't think I will be paying these fees -- but all my accounts are at small banks, and have requirements that must be met.
Free checking is going the way of the dodo bird.... you now have to be proactive and search out accounts that will either NOT cost you because you can meet their requirements, or suck it up and pay the fees.
If you use a debit card on Amazon, Paypal, Ebay, or inside at a bank to withdraw cash or pay a credit card, does that county as a debit card purchase?
Yes, I believe it does count as a debit card purchase if you purchase goods at Amazon, Paypal, eBay and pay a credit card bill with your debit card
I dont think it counts as a debit card purchase if you use the debit card to withdraw cash inside at a bank. ATM withdrawals dont count and withdrawing cash inside a bank would probably be the same as an ATM withdrawal.
BOA is introducing its $5-fee-for-debit-card-purchases in 2012 and will be doing so in stages by state.
...to make up for the fees the Bank used to charge to merchants.
Some other banks will charge a lower monthly amount than BOA...
but those banks will have that apply to ALL transactions with the card (like ATM withdraw)...
rather than just gigging the customers who use the card for purchases.
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Use your credit card instead, pay your bill on time, reap rewards.
Isn't it only for people that don't keep a minimum balance?
No article I've read says that -- although, of course, I'm sure I haven't read ALL the articles out there! The closest I've seen to what you suggest has said that customers with certain "premium" accounts will be exempted from the $5 charge, but no article I've read has explained what "certain premium accounts" means.
But a balance of $1,499.99 and not only with the $5 apply, but the $12 fee just for having a checking account.
It is beyond my comprehension why anyone uses any to the "big banks" in this country.
Well use BofA vecuse they provide 30 free trades per month.
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