MEMPHIS, TN (abc24.com) - If you use your debit card to pay for every day items, pretty soon you'll be paying a bit more. That's due in part to new banking regulations
"I think it sucks," said banking customer Tony Craft.
Craft told abc24.com he’s upset that banks will soon start charging customers to use debit cards.
"It's hard enough, we work hard already losing it everywhere else and the banks are going to take it, somebody should do something about it," said Craft.
Amanda Harris told abc24.com she has her own theory on why banks will now charge customers to use their debit cards.
"Well I suppose it has something to do with the fact they're bankrupt," said Harris.
However banks have stated that bankruptcy isn't the reason why financial institutions have to charge people every time they use their cards. They insist the fees are necessary because the amount they receive from debit card transactions has been cut in half because of the new banking rules. Whatever the reasons are, Harris told abc24.com she isn't happy about it.
"It is pretty irritating they haven't been responsible with the money that's actually ours," said Harris.
Christine DeFilippo with the Bank of Bartlett told abc24.com people who bank with the Community Bank can keep their money because the Bank of Bartlett will not be charging customers for using their debit cards.
"We're very loyal to the community that we serve and there should be no reason why people should pay money to access their own money," said DeFilippo.
Some banks are charging more than others. Beginning October 22, 2011 First Tennessee customers will pay four-cents on transactions when they use their pin number and fourteen-cents when a signature is required. Check with your bank to see what, if anything, your bank will charge you to use your debit card.
