Recent Debit Card Changes
In order to help clarify recent changes in how larger retailers are processing debit card transactions, please read the following:
Some retailers such as McDonalds’s, and Wal-Mart are automatically routing their debit card transactions as pin-based transactions which will cause you, our customers, to incur a POS withdrawal fee at the end of the statement cycle. This fee is $0.75 per transaction. The Bank does not charge a fee for non-PIN based transactions, or fees that you would normally tell the merchant to route as a credit card transaction.
As a result of recent Federal regulations updated in September 2014 as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, merchants have the option of directing the routing of an electronic debit transaction over any network that the issuer has enabled to process them. Even though you may say it is a credit transaction, the merchant has the final say in how the transaction is routed resulting in it be processed as a PIN-based transaction.