Chase & Wells Fargo dropping debit card fee
JPMorgan Chase has decided not to charge customers to use their debit cards.The Associated Press reports Chase plans to stop all $3 monthly fees for using debit cards when its current pilot program in Wisconsin and Georgia is completed in November.
Chase isn't alone in making the move. Wells Fargo also announced that it is cancelling its test program also charging a $3 monthly fee. The fee controversy started with Bank of America. It plans to start charging $5 per month in 2012. But a source at the bank, who asked not to be identified, says it will likely offer ways to avoid debit card fees by using direct deposit, maintaining minimum balances or using Bank of America credit cards.