Friday, October 07, 2011

Show me the Money!

Some financial advice needed, here, particularly if you're local.  I bank with Regions, and recently, I am now being charged $4.00 a month to use my debit card.  I'm sorry, but I don't want to pay the bank money, so I can spend money.  I called Regions about this a few weeks ago and they tried to placate me by telling me it's only 24
cents a day, and I responded, "yes, but it's $4 a month, and that adds up!"  From what limited reading I've done on the subject, it sounds like most of the major banks are already charging this fee, or will be soon.

My temporary solution has been to use my credit card soley, and then pay it off as quickly as I make charges, but this is really a hassle, plus it takes several days for the payments to clear, which is annoying.

So I'm wondering if there are any financially savvy readers out there who know a way around paying this type of fee, or if you bank with another financial institution that isn't charging the monthly debit card fee.

3 comments:

Bethany said...

We bank at Fifth Third and have never had that, nor have we received any communication that they would be starting this. We use our debit card exclusively. We've always been really happy with Fifth Third.

Sarah V. said...

Switch to a credit union! I've never had an issue since switching.

Rachel said...

Amanda, we are leaving B of A for the same reason. We've had another account with Perkstreet for about 10 months now and earn cash back by using our debit card. I think we have earned about $400 just this year. We just have our paycheck direct deposited into our local bank and then we transfer funds to Perkstreet online. No fee for the Perkstreet account.