News

U.S. Bank eliminates debit rewards program

October 25, 2011

According to KIRO 7 TV in Seattle, U.S. Bank is eliminating its "Flex Perks" debit card rewards program effective Nov. 1.

Letters were sent to U.S. Bank customers alerting them that their debit cards would no longer be eligible for "gold" or "platinum" bonuses. That means customers won't receive cash bonuses from debit purchases unless the card is used at a business that agrees to pay a fee.

The move follows a string of debit card program changes at major banks such as Bank of America and Wells Fargo after the recent implementation of the Durbin Amendment. Wells Fargo recently began testing a new $3 debit fee in Georgia, New Mexico, Nevada, Washington and Oregon, and Bank of America will charge a monthly $5 fee for debit cards beginning in January.

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