NEW YORK (MainStreet) -- As Bank of America (BAC) prepares to implement a $5 monthly debit card fee and Wells Fargo (WFC) flirts with doing the same, the idea of a bank actually paying its customers to use a debit card seems almost laughable. But that's exactly what's happening at the Randolph Brooks Federal Credit Union in Texas.The credit union ordinarily pays free checking account customers 10 cents for every purchase they make with their Freedom Check Card. But last week the credit union upped the ante by bumping that reward up to 15 cents. The increase will last through Dec. 31.
|As big banks such as Bank of America add fees for debit card use, a credit union wants to pay you.|
No, but your 'shares' are insured in a similar way to bank deposits.