Banks are making less money when you swipe your credit and debit cards because of new caps on interchange rates, the fee that they charge to process each of these transactions, that go into effect on July 1st. They have to make the money up somehow! We’ve seen new fee-incurring tripwires on checking accounts, and now they’re dreaming up even more fees for debit cards. Here’s what’s on their wishlist:

• $25 annual fees on debit cards
• No more debit card rewards
• Charge higher withdrawl fees at their ATMs to non-customers
• Cap the number and/or size of the transactions you make on your debit card

Make sure not to toss out letters you get from your bank in the next few months. They may be announcing new restrictions and fees, and they’re not always obvious. Sometimes they try to make them look like exciting new features that are really just fees in disguise. Make sure to scrutinize the fine print on anything you get.

These fees are “definitely a 2011 issue,” Robert Hammer, who runs a banking-industry consulting firm in Thousand Oaks, California, told WSJ. “The question is which quarter it will be and which bank will go first.”

At Banks, New Fees Replacing Old Levies [WSJ]

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.