Webster Financial Corp. had about as much luck as the big banks in staying ahead of the curve on debit card fees.
The Waterbury, Conn., company launched a no-fee debit card campaign largely through Twitter and other social media outlets in early November. Not a bad idea at the time.
Webster wisely withdrew the campaign Nov. 4, following Bank of America Corp.'s announcement earlier that week that it would not charge $5 a month on its debit cards.
Unfortunately, Reuters ran an article Nov. 4 that used the $18 billion-asset Webster as its first example of banks marketing themselves as a transfer destination for angry customers of big banks. The article cited a tweet that Webster sent that morning touting its no-fee policy.
Webster replaced the campaign with advertising of other products and services on its website such as small business banking and retirement planning, a spokesman said.
Hopefully for Webster old-fashioned banking products will have more staying power than tweets.