Chase Bank is talking about significantly reining in debt card transaction limits to $50 or $100. The reason, so the can make more money.
Recent legislation capped the amount the bank can charge retailers per transaction for using a debit card. Currently it is 44 cents per debit card transaction but soon it will be limited to 12 cents.
I can only imagine that the per transaction limit of $50 is to force consumers to have to swipe their card four times for a $200 transaction and generate more fees for the bank.Use a Debit Card from Chase Bank? Prepare to Have it Declined. by Steve Rhode