http://www.youtube.com/watch?v=XX7ugKUw9Cc&feature=watch_response
Lets see what happens when we pull all of our money out of their banks.
Video
Debit Card Spending Limit Banks Consider a $50 CAP
http://www.youtube.com/watch?v=XX7ugKUw9Cc&feature=watch_response
Be sure to check out the comments under the video for more info.
A couple of years ago the gas pumps were calibrated to not charge more than $50. Now it will have to be $100 to fill the tank.
Say what!
I’ve used my debit card for over $1,000. If this becomes common guess I’ll have to use my credit cards and just continue to pay them off every month.
OK, back to cash.
You can thank Scott Brown and all the Democrats.
I have a Chase MC and DC. I’m a cash person and never use the debit part only when I have less cash. Started using cash when idiots in front of the line start using their debit, press buttons, wait for confirmation, approve. Just don’t cap me when I’m ordering online..
Another “fixed” problem courtesy of the EmoRats.
And for those of us who can’t use credit cards right now because we’re on a debt management plan paying ours off and can’t pick up any new consumer debt *at all*, this would be catastrophic. Thanks banks, thanks government. Between the two of you, you always find a way to screw the little guy.
}:-)4
I believe the method to their madness is to stop the folks from using the debit card and get them readdicted to the credit card.
Bank of America is a lousy organization to do business with. I wouldn’t have anything to do with them. I have a debit card but usually use cash. No one refuses cash and there are no fees for using it. I use a credit card for large purchases. Like most folks, I can live without a debit card.
Wow, I don’t think I usually have a transaction under $50.
Use them as credit cards, don’t put the pin in. That’s alllll you have to do.
Expect paper money to come back strong if they do this.
These articles about higher bank charges for checking accounts and now debit cards are always about the biggest banks. Haven’t heard a word from my bank about any of this: still free checking, etc.
Debit Card limitation? “It’s my money and I want it now!
I use my debit card constantly. If they do this, a lot of people are going to blow a gasket.
I could probably save a lot of money if they made me stop using a debit card and switch back to cash. I double-dog dare ‘em to do this!
My brother did a consolidation loan with BofA at what he thought would be 4.99%.
A week later the paper work came back as 14.99%.
Many smaller businesses have quit taking credit cards as payment due to the high fees. Debit cards will be next.