Skip to content
Subscriber Only

Rewards Junkies May Turn to Smaller Banks for Perks

Lucie Shell, an 84-year-old retired secretary in Crewe, Virginia, uses the rewards she earns by swiping her debit card for gift certificates for family.

Shell, whose account is at Benchmark Community Bank, based in Kenbridge, Virginia, may not have to worry about losing her debit perks, unlike some customers at larger banks. That’s because Benchmark, which has $417 million in total assets, will be exempt from a cap on debit “swipe” fees or interchange that takes effect in July. The limit will apply to banks and credit unions with $10 billion or more in total assets.