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Debit Card Charges are the amount which is deducted from the bank account fund of a person whenever he or she uses the card to make any sort of payment. Debit card is a plastic card that is used for making any kind of payment instead of cash. Debit card can also be used as ATM cards and is very convenient.
Most of the banks provide the facility of debit cards. Every time a user uses his or her debit card, a transaction fee is charged by the bank that issued the particular card. This transaction fee is called a POS fee that varies approximately from $0.25 to $1 every time a transaction is made. Apart from these transaction charges, there are few banks that charge a monthly or yearly rental fee for the debit card. This rental fee or charge varies from $1 to $2 per month and $12 to $24 per year. Banks make a lot of money through these debit card transactions.
With each swipe of a debit card, a certain amount of Debit Card Charges commonly known as tax is deducted from the card holder’s checking account. This deduction is done automatically and instantly. Until recently Debit Card Charges were added to the bill without informing the user. Nowadays the charge is added with the purchase price and mentioned on the bill itself.
The disclosure of Debit Card Charges helps customers to keep a record of their expenses and in turn save some money.
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