DEBIT-CARD PURCHASERS PENALIZED FOR PIN USE

[Blacknbengal]

DEBIT-CARD PURCHASERS PENALIZED FOR PIN USE

Heidi Hansen, a U.S. Bank customer for nearly 10 years, had never seen anything like it. Her October bank statement contained a long string of unexpected 25 cent charges. Next to each was this confusing explanation:

"Purch Made With PIN - Fee."

Hansen, a 27-year-old Colorado resident, figured out what was going on pretty quickly. She was being charged extra for using her ATM card and PIN code to buy things at retail stores.

Hansen was not amused, and dashed off a hasty note to U.S. Bank.

"I never saw any documentation that you were beginning to charge a penalty for using your PIN," she wrote. "This is a ridiculous charge and I would like these taken off of my account! This is a disgusting example of big banks adding fees and you should be ashamed doing this to loyal customers!"

U.S. Bank confirmed that it does charge 25 cents to some checking account customers who enter a PIN instead of signing a receipt when making a purchase. Only unlucky account holders in Colorado, Indiana, Kentucky and Ohio are charged for using a PIN code, said spokeswoman Jennifer Wendt.

As you've probably guessed, more than a few quarters are at stake.


Rest of Story

 

[southsuburbs]

I was just reading this article on msnbc.

I called my bank to see if their is a fee for using a debit card/PIN for purchases....

$.30 cents each time!! LOL

Yeah, I'm late and slow b/c I look at my statement each month. But I rarely use my PIN but lately I have (don't know why).

The customer rep said if I use it as a credit and sign the slip, then there's no charge.

 

[silentrage]

Banks will do anything to make a few extra dollars. :tdown: They seem to tack a fee onto everything!

 

[jag4life]

Banks will do anything to make a few extra dollars. :tdown: They seem to tack a fee onto everything!

Yes they do... I argued with Capitol One Bank yesterday about fees.

 

[Da_Sperm]

I was just reading this article on msnbc.

I called my bank to see if their is a fee for using a debit card/PIN for purchases....

$.30 cents each time!! LOL

Yeah, I'm late and slow b/c I look at my statement each month. But I rarely use my PIN but lately I have (don't know why).

The customer rep said if I use it as a credit and sign the slip, then there's no charge.

Actually, there is a charge. The banks charge the MERCHANTS a fee for credit card transactions. So what most merchants have done is they changed their Point of Sales machines to PROMPT you to enter your PIN number to make you use your card as a debit card versus a credit card. Merchants are not charged anything or little of nothing for debit card transactions, but the fee for credit card transactions are higher.

I guess the banks have noticed a SPIKE in debit card transactions and a big dip in credit card transactions and started collecting fees for debit cards.

Oh, my point is there is a fee, just not to you. I guess the next move would be for the Merchants to charge consumers the credit card fee on top of the purchase, which I know so will charge an additional 1.25%.

 

[JSTUS]

Actually, there is a charge. The banks charge the MERCHANTS a fee for credit card transactions. So what most merchants have done is they changed their Point of Sales machines to PROMPT you to enter your PIN number to make you use your card as a debit card versus a credit card. Merchants are not charged anything or little of nothing for debit card transactions, but the fee for credit card transactions are higher.

I guess the banks have noticed a SPIKE in debit card transactions and a big dip in credit card transactions and started collecting fees for debit cards.

Oh, my point is there is a fee, just not to you. I guess the next move would be for the Merchants to charge consumers the credit card fee on top of the purchase, which I know so will charge an additional 1.25%.

Yep. Somebody pays for each swipe. You or them.