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Was there a recent change in debit card regulation?

885 views 2 replies 3 participants last post by  Fozzy 
#1 ·
I had no idea where to post this, so by default it ended up here.

I was wondering if there was a recent change in the banking laws and regulations relating to the use of debit cards.

Not to long ago, you could use debit cards as freely as a check or even cash. Lately, I've been noticing a big difference. Gas stations are back to offering cash discounts, while charging more for debit and credit card transactions.

Several companies have refused to accept debit card payments for an outstanding balance while doing on-line payments. The companies want a checking account routing number and all.

Its becoming inconvenient to use this banking convenience.
 
#3 ·
Banks charge fees to the retailers each time you use your debit card to pay. Some companies just eat the fees because the convenience to their customers means they'll make more money. For retailers like gas stations that might be ringing up a lot of $2 transactions when people go in to buy a soda, it cuts heavily into their margins, so they try to offer incentives for customers to pay cash instead.
 
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