Despite the economy, some businesses are hell-bent on making money from their struggling customers.

Earlier today, banking giant Wells Fargo announced that it is going to try out a pilot program that will charge customers $3 a month to use their debit cards. According to the bank, the proposed fee will offset the profits lost when Congress lowered the “swipe” fees banks can charge merchants when customers use their debit cards. Previously, banks charged upwards of $0.50 per transaction, and new regulations would lower the fee to $0.21.

The proposed debit card fee will be rolled out in five states–Washington, Georgia, New Mexico, Nevada and Oregon–and if customers do not complain, we can expect Wells Fargo to roll out similar fees across the country.

Other banks, including Chase, are also implementing such programs.

But what do you think? Should banks charge customers to use their debit cards? Sound off! 

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  • cupcakes and shiraz

    No. Why should I pay money to spend money? If they do go through with this, I am definitely closing my account with them.

  • Guest0012

    There not the only ones. SUNTRUST will be doing the same thing starting November 15, 2011. If you have less than 499.99 and no direct deposit it’s a 7.00 monthly fee, a 5.00 applies when you use your ATM card or check card for a signature PIN point of sale or recurring check card transactions per statement cycle (still trying to figure out what this means). And this one is a kicker 25.00 fee for closing your account. Everyone should make a run on commercial banks that are imposing fees take your money to a credit union. Yes I make more than this so the charges don’t affect me, but the more money you have in the bank the more SUNTRUST trying to charge you. Guess what I will be laughing all the way to the nearest Credit Union.

  • @Guest0012 — Really?! That’s how banks do it – steal from the poor and give to the rich! They should have that fee for people who have more than $100,000 in their account. That’s OK – banks are folding left and right – laying folks off and not giving raises. The hubby works for a credit union, and *Glory be to God*, he has received a NICE raise every year since he started there in 2008 – right when the economy went south…