3 ms·
Debit card fees in the US have been capped at $0.22 + 0.05% for more than a decade.
by khuey 4y ago
Debit card fees in the US have been capped at $0.22 + 0.05% for more than a decade.
- dagw 4y agoWhich is still over 1% for purchase under $20
- mardifoufs 4y agoBut still less than the EU's 0.2% cap for any serious purchase. (Over ~120$, so I'm sure it evens out)
- woobar 4y agoWhy do merchants in Germany have minimum transaction amounts for card purchases then?
- MarkSweep 4y agoOnly for large banks. Search “ durbin exempt interchange”.
- khuey 4y agoLast I looked at the numbers most transactions were covered by the Durbin Amendment. Interchange fees for exempt single message (PIN) transactions had also fallen to basically the cap. It was really only exempt double message (signature) transactions that were still expensive.