Monday, October 31, 2011

SunTrust Bank and Regions Bank abandon plans to charge customers a fee for using their debit cards

SunTrust Bank and Regions Bank have joined the growing list of banks that have abandoned plans to charge customers new fees for using their debit cards. Wells Fargo and Chase announced earlier their plans to skip on their original plans to ding customers.

That puts Bank of America alone among the giants sticking to plans to charge customers $60 annually for the privilege of using their debit cards – at least for now.

The marketing blunder became a feeding frenzy for credit unions, who’ve seen new account activity grow over 250% since the fees were announced.

 

 

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