|
|
Article: Overdraft fees on debit cards a moneymaker for banks; Debit card fees a moneymaker for banks ; Legislation could curtail charges, but U.S. banks say they rely on them
- Article from:
- International Herald Tribune
- Article date:
- September 10, 2009
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
|
Ron Lieber; Andrew Martin
International Herald Tribune
09-10-2009
Overdraft fees on debit cards a moneymaker for banks; Debit card fees a moneymaker for banks ; Legislation could curtail charges, but U.S. banks say they rely on them
Byline: Ron Lieber; Andrew Martin
Type: News
A growing number are now allowing consumers to exceed their balances -- for a price, far exceeding what consumers would pay in other countries.
When Peter Means returned to graduate school after a career as a civil servant, he turned to a debit card to help him spend his money more carefully.
So he was stunned when his bank charged him seven $34 fees to cover seven purchases when there was not enough cash in his ...