Pay in Cash?

In my on-going series on banks, I thought I would pass this article in today's New York Times about the fees Visa (and your bank) charge for using a debit card. Remember, a debit card is your money. Yet Visa (and your bank, which takes a fee from Visa) charge retailers and venders a fee for every time you use your card. If you don't use your PIN, in other words, the card swipes as credit, even though your checking account is debited, the fee is even higher (hence the reason Costco only accepts debit cards).

So, since retailers don't make a full dollar for every dollar they charge you, the cost of goods and services increases to cover that deficit.

Simply amazing what those bankers think of, isn't it?