So, B of A and the $5.00 debit card

[BigV]

I don't agree with your conclusion that the consumer lost.

In this clash of the titans, as your article casts it, who pays the costs for interchange transactions has been shifted from the merchants to the customer. Well, that doesn't wash.

ALL the costs are borne by the customer, aren't they? Wal-Mart's not minting any money to give to BofA, are they? But the biggest break, no, the biggest assumption made by the author of the story is that the money once paid by the merchant will now be paid by the debit-card-swiper. And that's just not true. It will be for BofA debit card users, but Wal-Mart's got customers that pay from lots of different sources, not just BofA.

This story is about BofA making the bold (in terms of plain talking) business decision to start charging for a service that previously did not incur a fee. To "blame" it on Wal-Mart is a bit silly. To say that Wal-Mart will reap substantial benefits is perfectly fine. To say that the customer "lost" is also a stretch. BofA customers now have another reason to assess whether or not they're getting fair value for their money.

For me, that answer was hell no. I've known that answer for years. But, BofA's got lots going for it, and I wish them success. I just think that they're going to face some serious resistance for making this choice.