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More bad news for bank customers: Debit card fees

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posted on Sep, 29 2011 @ 08:30 PM
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It's interesting. I can see how the intention here might be to get people to use credit cards more often for their supposed rewards, but I wouldn't be at all surprised to see people want to move away from using banks altogether.

With each passing day, I feel more that way.




posted on Sep, 29 2011 @ 08:41 PM
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reply to post by Shawny2222
 


They make their money from penalties, investments and LOANS using funds deposited by customers. When you bank electronically and generate no paper statements, have money direct deposited and never actually interface with a human...(In short cost them nothing yet provide them with capital) the account should remain free.

I remember the days when they didn't charge you anything as long as you didn't bounce a check or anything. If you followed the rules they let you be. Hell, sometimes you even got a toaster!



posted on Sep, 29 2011 @ 08:47 PM
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Bank of America is DESPRATE... This is their last ditch effort to milk their customers before they fail.


I say EVERY single BOA customer writes them or goes in and says NO. I will take my money else where, they may change there tune... I hope to god BOA fails... Greedy asshatters.

Greed is the downfall of all businesses and nations. Will they EVER learn? good god......
edit on 9/29/2011 by Pharyax because: (no reason given)



posted on Sep, 29 2011 @ 09:16 PM
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I have used BofA for years and loved their service. However, I have two checking accounts, each with an ATM card (although I hardly ever use the ATM, mostly just debit at the counter). That means, without offering me any additional service, they are going to now charge me $120 a year. I'm out. My son is a college student, do you think he would notice (without me telling him) that they are charging this extra new fee? Not until he starts bouncing stuff because they have drained his account. As soon as we heard the news this afternoon, my family decided we're heading to the nearby credit union to open up accounts this Saturday. Will take a few weeks to get everything (autodeposits, automatic payments) moved over and then we're closing our BofA accounts. I think they will be very surprised by the backlash on this one, just like NetFlix has been (oh by the way, we just closed that account too). Guess what, the consumer can vote, after all. We still have the power to walk away.



posted on Sep, 29 2011 @ 09:23 PM
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reply to post by Manhater
 


I use debit every day and I don't get charged anything for it. That's different than ATM. Whether I'm getting coffee, lunch, whatever, I use debit, free. That's actually how I get cash too--doing cash back on a retail purchase.

So now that will cost $5 for people doing this at BOA.



posted on Sep, 29 2011 @ 09:23 PM
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It's not just Bank of America. I just got notice from Regions. They will be charging 4 dollars a month.

I see cash in my future.



posted on Sep, 30 2011 @ 10:45 AM
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I see this as a response to Obama telling banks to waive overdraft fees on $5 or less.
its dumb though, especially when $5 is the difference between getting to work on payday or some such for a lot of people



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