Major Banks to Withdraw Debit Card Fees

The backpedal by big banks on debit-card fees is gaining momentum.

Close-up of silver digits on a credit card. Very shallow depth of field, focus on number 2. You can see the texture of the card in the in-focus areas.

11/01/2011 --

SunTrust says that starting Wednesday, it will no longer charge the five-dollar monthly debit card fee it began charging in June.
Regions Bank said it will nix its four-dollar monthly fee, starting today.

It started charging the fee this month.

Both banks said they will refund any customers previously charged the fee.

They say customer reaction drove the back-track.

The stampede to reverse fees began Friday.

That's when J-P-Morgan-Chase announced it would not impose the charges, and Wells Fargo followed suit.


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