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Who’s to blame for Big Banks charging for monthly debit card usage?

Posted in Aspire FAQs
October 6th 2011 by
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durbinAfter taxpayers bailed out big banks for the promise of a better tomorrow, those same banks are now turning their backs on Americans by charging monthly fees for debit card use. This time, they’re blaming the recent passing of the Durbin Amendment. But is it really “the Durbin Amendment’s” fault?

Check out this video for a better understanding of the Durbin Amendment and see for yourself who’s to blame.

http://www.youtube.com/watch?v=kFLZVtWPwRc

You should be aware that the Durbin Amendment affects all financial institutions that issue debit cards, so Aspire will also be affected. However, we are not charging a monthly fee for debit card use, nor do we plan on it.

The extra debit card fees that banks are charging will be going straight into their own pockets. We want to ensure that you understand that at Aspire, we will always put the best interest of our member-owners first.

Although the video strictly depicts Bank of America, you’ll find that other big banks are also charging monthly fees. As Senator Durbin urges in the video link above, “…find yourself a bank or credit union that won’t charge you $5 a month and still will give you a debit card that you can use every single day,” we urge you to do the same.

So whether you choose Aspire or another credit union or local bank, be sure that you’re aware that big banks are not your only option.

If you’re currently unhappy with the performance of your big bank or other financial institution, transferring your funds over to us has never been easier! We’re here to help you every step of the way. Give us a call at 732-388-0477, Option 2 to see the credit union difference for yourself!


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