Reply #2: I heard about this, and my first thought was that after my bank cancels my... [View All]

[TreasonousBastard]

debit card I can't pay at the pump any more and will be charged up to 5 five bucks at a conveniently placed cash machine every time I want to buy something and don't have quite as much cash as I need. Or we go back to checks.

The argument is that a VISA debit charge actually costs the bank only a penny or so and so they should charge less. OK, but if they don't make enough, or(gasp!)lose money, they will stop offering the service. And the stores will suffer because they will see more credit card usage with much higher fees.

All this helps everyone just how? Sounds to me like everyone loses.