Bank Failure

One of the big banks has surrendered in the debit card war, canceling plans to charge three dollars a month to its customers, who clearly told the bank what they thought.

Wells Fargo and Co. said Friday it is cancelling its planned five-state pilot of a monthly $3 fee for users of its debit cards as a response to customer feedback the bank has received. Washington was among the five states, which also included Oregon, Nevada, New Mexico and Georgia. "As we adjust to changes in our business, we will continue to stay attuned to what our customers want," a bank spokesman said in a statement.

     Now customers of other banks need to do the same, tell their banks in clear, unequivocal language, they will move their accounts the day a debit card fee shows up.
     Debit cards saved the banks a fortune in check processing costs, and gives them almost instant access to customer's money. Don't let 'em claim they need the fee to pay for the card system.