Quote:
Originally Posted by seeric
http://money.cnn.com/2011/03/10/pf/d...limit/?npt=NP1
Declined! Your debit card may soon be denied for purchases greater than $100 -- or even as little as $50.
JPMorgan Chase, one of the nation's largest banks, is considering capping debit card transactions at either $50 or $100, according to a source with knowledge of the proposal.
Why? Click the link.
FYI.
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You ever notice all the "check cashing" store fronts that seem to be popping
up all over the place?
I think a move like this will just make more of these places pop up.
The check cashing business is just snatching up whatever business that banks
don't want. These places already sale "debit cards".
The only thing these places don't do yet is give out checking and saving accounts.
Interesting that nobody accepts checks anymore and nobody has any savings.
I see a future in "Store Front Banking".
Introducing "Cash Monkey" : The Multiplexing Debit Card :
- The customer has 3 bank accounts with debit cards
- Cash Monkey will be used for the purchase
- Cash Monkey will split the charge amongst the customers 3 debit cards
Thus making a $50 limit into a $150 limit.
Cash Monkey! Join Now!
