Tuesday, March 28, 2006

Washington Mutual's® "Free Checking" (WayTooHigh.com)

Washington Mutual® , a named defendant in the antitrust price-fixing litigation, is promoting a new campaign for what it calls "Free Checking." What else is free are the interchange charges when writing checks, which unlike electronic payment transactions, face the economic burden of clearinghouse and other payment costs. The Washington Mutual® marketing campaign draws attention to the question of why there are interchange fees for credit and debit card transactions, yet none for writing checks?

[source: WayTooHigh.com]