Reply #71: Wells Fargo came up with an innovative scam to get you to swipe more.

[Fuddnik]

We needed some papers notorized a couple of months ago, so we went to the bank. Before the manager would notorize the papers she tried to sell us a new mortgage, a new checking account, blah, blah. Then she said we could get a savings account with 5% interest. I said hold on, let me run back home and get my safe deposit box key.

She said no, we couldn't deposit directly into the account, but that every time we used our debit card, they would transfer $1 from checking to the 5% account. I said I never or rarely use my debit card. She said "Oh, I use mine for everything! If I buy a cup of coffee, I swipe my card!", like this was greatest thing since Hawaiian pizza. I just looked at her and said, "Merchants absolutely hate you". She seemed hurt, that someone would object to paying a bank a $0.50 fee to process her $0.79 purchase.

When we had the pizza shop, Capitol One's headquarters was a major lunch delivery customer. About 10 times a day, someone would call in an order for 6-7 people, and they would go on 6 different credit cards and one for cash. So, it was like $3.00 in fees for one delivery.