First of all let me be clear, Allied First Bank has NOT and does NOT charge our customers to use our debit card, NOR do we have any plans to so. We think our FREE debit card is just about the best thing our customers can carry and we urge everyone to get and use our debit card. Debit cards are safe, fast, and more convenient than cash or checks, and a great way to control and track your finances.

 

I’m sure by now you have heard about the changes in the debit card marketplace and how the BIG banks (too big to fail) are starting to charge their customers who have debit cards. As of this week, here is what some of the “Big Boys” are planning:

 

JPMorgan Chase: Testing a $3 fee in Georgia and Wisconsin.

Bank of America: $5 monthly fee starting January 1^st

Wells Fargo: Testing a $3 monthly fee as of October 14^th

SunTrust Bank: $5 monthly fee starting November 10^th

 

Other BIG banks have taken a different approach so that they don’t get lumped in with the banks that are charging the new debit card fees:

 

Citibank is not charging for the use of a debit card, but if you want to avoid a monthly fee for their checking account (which will increase to $10 on Dec. 9), you must have a $1,500 combined average monthly balance in your combined accounts, or meet certain bill-paying and depositing rules.

Chase Bank has a similar policy.

 

Not only does Allied First Bank NOT charge debit card fees, we go one step further to help eliminate ATM Fees with our ATM reimbursements. The Bank will refund up to 8 transactions ($10.00 maximum) in ATM fees when you maintain a monthly deposit balance of at least $2,500 (non-IRA) or $10,000 loan balance. No minimum balances are required for our Affinity and Student Checking account holders.

 

So if you are carrying a debit card from one of the big banks, call them up, cancel it, and cut it in half. Bring your account to Allied First Bank, our debit card has no fees and we want your business! Spread the word!