Banks threaten debit card spending limit.

[dixiegrrrrl]

What if you go to use your debit card but find you have a $100 spending limit — even if you have more money in your account?
Right now, the idea is a bargaining chip being used by some of the nation's biggest banks, including JP Morgan Chase, Bank of America and Citigroup.

It all goes back to new rules that Congress is considering aimed at limiting the fees that banks can charge retailers every time you swipe your debit card.

Those proposed rules could hurt bank profits, but merchants and consumer groups argue that the transaction fees imposed by banks are currently unreasonable.

The credit card industry wants to postpone the scheduled start of the regulations in July, but it's unclear if they'll get that delay.

http://www.wfaa.com/news/consumer/Banks-threaten-debit-card-spending-limit-116531378.html

[Warpy]

1. I've got a preset limit that prevents

scumbags from cleaning me out if they get their hands on the number. I think most debit cards have preset limits, whether the holders know them or not.

[Sonoman]

4. It depends on your arrangements with your bank.

Meanwhile, over at AMEX...

I notified AMEX that I would be traveling, just to avoid any hassle.

While trying to get to Atlanta during that last ice storm, my card was denied in Dallas (long story).

I called AMEX and they said they had canceled my card, as it had been used in four cities in one day.

They would back down, either.

Sonoman

[okieinpain]

2. sure they can do that then people will just get out cash and

they will lose the fees from people charging stuff.

[DJ13]

3. So people will go back to writing checks

I seriously doubt that check processing is a better deal for banks.

[regnaD kciN]

5. Watch the check-printing fees go up...

...to around $100 per box. :eyes:

[Tesha]

6. You are not obliged to buy your checks through your bank. (NT)

[Angry Dragon]

7. Credit Unions!!

[williesgirl]

8. Get your money out of the bank before a purchase, make sure you use a teller and not an ATM

Shop LOCAL STORES. The store owners won't have to pay any fees and everyone is happy except the crooks at the bank. FUCK THOSE CRIMINALS. rec'd

[dixiegrrrrl]

9. Some stores here will not take credit cards.

I happily give them cash, they lower the price a bit.

[cutlassmama]

10. Some here don't even know what cash is. I had a clerk tell me to

"swipe my card" yesterday. I looked at him and said "what card?", I have cash, have you ever heard of cash?", LOL, he looked shocked.