Take That, Bank of America

Dayton Daily News:

An Urbana bank says it will pay you to use its debit card.

The Peoples Savings Bank of Urbana says, starting in November, it will credit customers $5 each month for each account with a debit card.

President Brice Kadel said the two-branch bank launched the program to show its opposition to debit-card fees charged by large institutions. Last month, Bank of America announced plans to levy a $5 monthly fee on customers who use their debit cards.

Kadel said customers have asked whether Peoples Savings planned to impose debit-card fees.

“Paying our customers to use our debit cards is the kind of symbolic gesture that eliminates their fears,” Kadel said.

Peoples will credit $5 to each account that uses one or more signature-based debit card transactions during the statement period. Customers also can earn the credit in December and January.

After Jan. 31, the bank still won’t charge for point-of-sale transactions using debit cards.

I just don't understand how the big banks can claim that it costs them more than 20 cents per debit card transaction.  Computer costs can't be that great.  I assume they were just screwing retailers, and now that that is limited, they're screwing customers.  I'm glad to see a small bank make the point that the big guys are crooks.