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US Banks Begin Charging Monthly Debit-Card Fees

-Wells Fargo to pilot $3 monthly debit-card fee in some markets

--SunTrust and Regions among those that will charge fee

--TCF Financial predicts every bank will end up with some fee

By Matthias Rieker and David Benoit

NEW YORK (Dow Jones)--Wells Fargo & Co. (WFC) is joining a growing number of banks that are introducing or testing a monthly fee for debit cards, casting around for revenue lost to debit-card regulatory restrictions.

Wells Fargo, the nation's second-largest bank by deposits, will charge a $3 fee for debit and automated-teller-machine cards as of Oct. 14 in several states if such cards are
used for purchases (but not for ATM usage). The bank said it is a pilot program, and it will monitor how people respond.


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