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US: BoA to charge $5 monthly debit card fee
  • Vitaliy_KiselevVitaliy_Kiselev
    Get ready for a new wave of bank fees. Bank of America will begin charging a $5 monthly fee at the beginning of next year for customers who make debit card purchases.

    Whether you use your card for one purchase a month or 20, you will pay $5 per month starting in 2012. It doesn't matter if you select "debit" or "credit" at the point of sale.

    If you don't use your card at all, you won't be assessed a fee, and you can still use ATMs as much as you want without getting hit with the new charge. Plus, customers with certain premium accounts will be exempt from the charge.

    Other banks have been flirting with the idea of introducing a fee for debit card usage, but Bank of America (BAC, Fortune 500) is one of the first major institutions to announce that it will make this a reality for active debit card customers.

    Via: http://money.cnn.com/2011/09/29/pf/bank_of_america_debit_fee/index.htm
  • 5 Replies sorted by
  • Ian_TIan_T
    I've been with them for the last 14 years....this among many of their other tricks....suck!!!
  • Vitaliy_KiselevVitaliy_Kiselev
    Nothing new :-)

    And then picked up the charge for using VISA which was drastic,
    Cause how the feck are you supposed to pay if not with fecking plastic?
    (c) Fascinating Aida

    http://www.personal-view.com/talks/discussion/1045/fascinating-aida
  • Ian_TIan_T
    Lol..

    It seems like what they are doing is taking away the convenience of having the card in the first place and forcing us to visit the bank's ATM for cash withdrawl. Use any other bank's ATM and you still get hit with their fees. Evil dogs.
  • stoneystoney
    Fuking bank of america
  • LPowellLPowell
    Earlier this year, BofA took nearly three working days to complete the transfer of funds from my BofA savings account to my BofA VISA account, both of which are electronically linked to my online BofA account. Their system had no problem immediately deducting the funds from my savings account. My funds then literally disappeared into their transaction system for several days in a manner that I had no way of tracing. When I called to ask exactly where my funds were currently located, the service rep claimed that it requires up to 72 hours for funds to be internally transferred between BofA accounts in California. When I then asked him for an estimate of how long it takes electrons to travel through BofA networks, he put me hold, presumably to give me an opportunity to measure BoA transaction latency directly.
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