The latest changes mean that direct debit customers will see a gas and electricity price increase of 8.7%.
Credit cards are one way the bank is trying to make up for these fees, an item we discussed in As New Regs Loom, BoA Converts Debit Customers to Credit Cards.
There are 42 million debit card customers in the UK, while 31 million people have credit cards.
But Money Box has found that a number of travel firms are still charging debit card customers considerable sums too.
Credit and debit card customers can also request their bank to do this but there are some time limits, a potential problem when some Go Ballooning customers bought their vouchers several years ago.
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In its bid to get debit-card customers to sign up for its credit cards, Citi will face competition.
It added that the hackers may have stolen 23, 400 financial records from an outdated 2007 database of subscribers outside the United States, including 10, 700 direct debit records of customers in Austria, Germany, the Netherlands and Spain.
While this move shows that BofA eventually listened after its customers squealed for months, the decision to raise debit card fees and the willingness to stick its retail customers with an additional fee on debit cards show just how desperate banks are to find new ways to reclaim lost sources of revenue.
Other possible changes include curbing the number of debit-card transactions customers can make each month and restricting the size of a transaction with a debit card.
Some card providers put a sticker on new credit or debit cards sent to customers.
On Monday, the company said hackers stole account information for nearly 1.5 million debit and credit card customers.
In September, PNC Bank will no longer give reward points for debit card purchases to customers with free checking accounts.
Some banks are believed to be issuing debit cards only when customers maintain high enough balances for the accounts to be profitable.
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They say the rule, which places a cap on the amount that banks can charge retailers each time a customer swipes their debit card, hurts customers and banks.
Such fees, which have been discussed by a number of institutions, could become more mainstream as new regulations capping the amount banks can charge merchants when customers swipe debit cards take effect.
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On February 8, Chase cut off enrollment of new customers in their debit card reward program.
For many years, banks heavily marketed debit cards and automatically enrolled customers in overdraft protection plans.
Citibank is one of the big banks that has chosen not to dispense debit card fees to its customers.
The same goes for JPM, Citi, Wells and other banks when their customers swipe their debit cards at WalMart and other retailers.
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The bank also did not notify customers using a debit card at a merchant outlet that the particular transaction would entail an overdraft.
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The MDS transmits financial messages between acquirers and issuers and provides transactional and statistical reporting and performs settlement between customers and other debit transaction processing networks.
The so-called Durbin amendment, for instance, limits the fees banks can collect from merchants like Target and Walmart when their customers swipe their debit cards there.
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The result, a 68% reduction in attrition among high-value customers, and an 18% increase in debit card revenue annually with behavior-based incentives to migrate card customers from low to high value segments.
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The lower profits for the quarter reflect the anticipated impact of the Durbin Amendment, a change in federal rules for debit card transaction fees that will likely result in much higher per-transaction fees for customers who pay for small transactions with debit cards.
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Wells Fargo is also eliminating its debit card rewards program for all customers on October 8.
It is unclear how much success Citi will have convincing customers to switch from debit to credit.
In addition to testing a monthly fee for debit card users in northern Wisconsin, Chase ended its debit card reward program for all customers in July.
Banks feel they need to make up for this loss of revenue, and charging customers to use their debit card is one way to generate revenue.
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Wells Fargo is no longer making their debit card rewards program available to new customers.
About one-third of these payments are through credit, debit or prepaid cards already owned by customers, followed by payments directly from customers bank accounts.
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