American Express is charging Walmart less than what debit card-issuing banks like Bank of America, JPMorgan Chase and Citi and Wells Fargo would charge Walmart via debit card swipe fees.

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The total service fees that Bank of America earns from its debit and credit card business was relatively stable prior to 2009 aided by high interchange fees and card fees in the US relative to the rest of the world, which helped generate strong revenues for the card industry.

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Bank of America, the largest U.S. debit card issuer, will no longer allow consumers to overdraw their checking accounts using a debit card.

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But I couldn't access my Bank of America account online and had to call collect to cancel my debit card.

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Bank of America announced on Wednesday that it plans to deny any debit-card transaction that will result in a customer overdrawing his account.

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Pressured by regulatory changes which limit debit card interchange fees charged by banks, Bank of America plans to alter the fees and services on its checking, savings and other customer accounts.

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The debit-card fee wasn't the only revenue idea Bank of America shelved late in 2011.

WSJ: Bank of America Weighs New Set of Fees

Improvement in the macro economic outlook will lead to higher retail spending and greater outstanding credit card balances, a notable positive for Bank of America as the company has nearly 14% share of the U.S. debit card market and roughly 13% share of the U.S. credit card market.

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Most banks have stripped their debit card offering of reward points and other such frills while some like Wells Fargo, Bank of America and JPMorgan considered monthly fees on the use of debit cards.

FORBES: Bank Of America Will Find New Fees, Stock Worth $11