Prepaid Debit Cards

Dodd - Frank financial reform legislation enacted under the terms of the Bank has created a serious situation that banks issue debit cards to their checking account holders. Under the law, banks or credit card companies to merchants on debit card transaction fees charged must be reasonable and proportional to the cost of enforcement. In other words, debit cards, banks will be forced to pay tens of billions of dollars in revenue that. Unfortunately, this so-called reform that has the burden to consumers. Traders to reduce their prices, the treasure of the pom in the business bags. Consumer, as a defense, and he is now in charge of the money is going to be more trouble.

Banks must find a way to replace lost income, so basically they can not do many things. First, on the basis of the now shut down unprofitable accounts, the minimum balance their books to reduce the amount of test accounts. Second, they account for a consumer to a combined $ 1,000, $ 2,000 or more must be maintained and that require a large account. They can even be used several times each month, debit card, they can not waiving the monthly fee on the account. Finally, several major banks to reduce the amount of an individual transaction will be debited from a card that is speech. Take measures to minimize their losses, and is designed to raise revenue.

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