Bank of America dumps debit card fees
November 7, 2011
Bank of America has abandoned a monthly $5 debit card fee, which was scheduled to begin in early 2012. The announcement came after competitors, namely Wells Fargo and JPMorgan Chase, announced they were no longer going to exact similar fees. The bank cited customer feedback and a changing competitiv...
Letter to the editor: In defense of Bank of America
October 5, 2011
Recently, Bank of America announced that it would be charging debit-card users a $5 monthly fee for using their debit cards. Appropriately, there has been uproar over this, but is Bank of America the proper target of this anger? Several complaints seem to be about Bank of America ‘stealing’ the hard-earned m...
Bank of America to begin charging debit card users monthly fee
October 3, 2011
Bank of America (BofA) debit card users could pay more than just overdraft fees starting next year if the bank approves charging customers $5 a month to swipe their plastic. New fees are being used to recoup losses banks will incur after a new government bill limits the amount of money banks can charg...