Randolph-Brooks Federal Credit Union said it is has increased incentives to use its debit card by paying members 15 cents cash back on every debit card purchase through the end of the year.
The $4.8-billion, Live Oak, Texas-based credit union previously paid members 10 cents per debit transaction under its debit rewards program.
The increased payout comes as several big banks are assessing fees for their debit cards to offset cuts in the debit card interchange rate contained in new Federal Reserve Board rules that took effect Oct. 1.
Bank of America Corp. last week announced it will charge customers $5 a month to use their debit card (
