JPMorgan Is Said to Drop Plan for $3 Monthly Debit-Card Fee Following Test
JPMorgan Chase & Co. (JPM), the biggest U.S. bank, decided against charging a monthly fee for debit-card use, according to a person with knowledge of the matter.
The bank was testing a $3 fee in Georgia and northern Wisconsin, according to the person, who asked for anonymity because the bank’s decision hasn’t been made public yet. The New York-based company has also halted a $15 fee for basic checking that was being tested in Georgia, the person said.
Kristin Lemkau, a spokeswoman for the bank, didn’t immediately return e-mails and a call seeking comment.
To contact the reporter on this story: Dawn Kopecki in New York at dkopecki@bloomberg.net
To contact the editor responsible for this story: Rick Green at rgreen18@bloomberg.net
JPMorgan Said to Drop Plan for Monthly Debit-Card Fee
Robert Caplin/Bloomberg
JPMorgan Chase & Co. signage is displayed at a bank branch in New York.
JPMorgan Chase & Co. signage is displayed at a bank branch in New York. Photographer: Robert Caplin/Bloomberg
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