TheWSJis reporting that many bank are thinking about creating a limit on how much you may spend on your debit entry card . For instance , bank like JP Morgan Chase & Co are thinking about set a $ 100 maximal per transaction .
Why the hell on earth would they do this ? Well , the raw debit bill of fare rules , known as the Durbin Amendment , which will take burden in July are go to make debit - cards highly unprofitable for the banks . The new rules basically repress the fee associated with debit entry card utilisation , which is good for little businesses , but unspeakable for the banking industry . In fact , with the new rules in effect , the intact industry could lose $ 15.2 billion a class in revenue .
And we all have it off Banks do n’t require to lose money ! So their solution is to bound your employment of debit circuit board ( with that purpose utmost ) to move you over to the more profitable credit and charge card business concern . A dodgy don’t - spend - your - money - spend - ours - and - rack - up - debt move . Other ideas they ’re toss out around the right way now is to limit the identification number of debit entry add-in purchases one can make in a calendar month , charge a fee to the consumer for each debit entry card transaction and break down debit - placard table service into different parts and charge merchandiser on an individual basis .
If this does really befall , it ’s fit to fellate . All I ever really use is my debit entry card . Sure , a pile of those purchases are under $ 100 but I do n’t want to be told how I can or can not drop my money . [ WSJ ]
Image Credit : Design Blahg
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