A new survey indicates that consumers are strongly opposed to the idea of banking institutions charging fees for debit cards and would go to great lengths to avoid paying them.
The poll, conducted by Mintel Comperemedia, found that nearly 60 percent of respondents said they would stop using their debit cards for purchases if their financial institution started charging fees while just 19 percent said they would continue to use them and pay the added fee.
"Banks moved customers into new services like debit cards and online banking because they were cheaper and more profitable than cash and checks," said Susan Wolfe, vice president of financial services at Mintel Comperemedia. "They can't now backtrack and charge consumers for things they've been offering for years at no additional cost."
Fees are something that consumers often have issues with, particularly when it comes to credit cards. A recent survey conducted by the Consumer Financial Protection Bureau found that the late fees credit card companies charged were some of Americans' biggest credit disputes.