New Debit Fees Create Opportunities for Prepaid Debit Cards


In case you are not aware, “Wells Fargo already sent letters to customers in Georgia, New Mexico, Nevada, Oregon and Washington that the fees will begin Oct. 14, according to That’s just two weeks after Federal Reserve-mandated rules slash the amount banks can charge retailers for every debit card purchase. Regulators reduced the maximum bank take on each transaction from 44 cents to 24 cents.” (courtesy of Daily Finance)

These fees are on par with what WalMart charges monthly for its prepaid debit card. So perhaps it’s time to explore options. Anyone remember cash and the check book? Or what about all those prepaid debit cards that are coming out, following WalMart’s lead? What a great way to manage and track your business expenses without going over. While I’m at it, prepaid debit cards could be an option for small business owners who would like to make a business credit card available to employees but are concerned about managing the process. Hmmm. Something to consider?


About Tiffany C. Wright - The Resourceful CEO

Tiffany C. Wright is the author of “The Funding Is Out There! Access the Cash You Need to Impact Your Business” and “Solving the Capital Equation: Financing Solutions for Small Businesses.” She is the founder of The Resourceful CEO, which helps owners of small/medium-sized businesses prepare their businesses for sale. Tiffany has an MBA from the Wharton School of Business, sits on non-profit boards and serves as a business mentor with the Cherie Blair Foundation.
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