New BofA debit card monthly fee

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New BofA debit card monthly fee

wrecklesswords wrecklesswords
Any Bank of America customers out there hear about the $5 monthly fee for using your debit card? Anyone mad about this and going to take their banking business elsewhere?
10/05/2011
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Starkiller87 Starkiller87
Im pretty mad i barely have money as it is. I cant afford 5 dollars a month.
10/05/2011
wrecklesswords wrecklesswords
Quote:
Originally posted by Starkiller87
Im pretty mad i barely have money as it is. I cant afford 5 dollars a month.
I totally understand. My dad called me to tell me about it. I'm glad it's not starting quite yet, but still, that's so unfair. I just recently switched to BofA because my previous bank was charging fees out the ass, and now I come into this.

Will this even apply to ATM transactions?
10/05/2011
El-Jaro El-Jaro
I heard about this on Marketplace on NPR.

They're going to charge you to use your Debit card, but prolly won't if you use their credit card. From what was said, a lot of big banks are going this way in the near future! I hope OccupyWallStreet gets the job done!

It's pretty obvious companies like BoA are only out to make money...I know it's a shock!

Best bet: Switch to a credit union or small town bank. You might not get all the nice features like you did from a big bank, but you get to keep more of your money.
10/05/2011
wrecklesswords wrecklesswords
Quote:
Originally posted by El-Jaro
I heard about this on Marketplace on NPR.

They're going to charge you to use your Debit card, but prolly won't if you use their credit card. From what was said, a lot of big banks are going this way in the near future! I hope ...
These days the big banks don't have many nice features other than the fact that they have more locations.

I'll probably be researching the local banks around here soon.
10/05/2011
carenautilus carenautilus
Quote:
Originally posted by El-Jaro
I heard about this on Marketplace on NPR.

They're going to charge you to use your Debit card, but prolly won't if you use their credit card. From what was said, a lot of big banks are going this way in the near future! I hope ...
Yeah, I'm planning on switching to a local bank.
10/05/2011
Rockin' Rockin'
I don't use a debit card much, except at ATMs and occasionally if a place doesn't take credit cards. I'd be upset if my bank wanted to charge me to use my debit card, though.

I am an Ally Bank customer. They are an online-only bank and I've been with them a few years. I like their policies: no minimum balance requirements, earn interest on your checking account money, and you can use any ATM and they refund all ATM service charges. I recommend them if you're fed up with your bank and their policies.

They also have a program called Ally Perks where you get money back when you use your debit card at certain retailers. I don't use this program but it sounds good, eh?
10/05/2011
- Kira - - Kira -
Most big banks will be moving in this direction in the next year or so. If you want to avoid it you'll need to look into credit unions or online banks. At some point even those might need to move to this due to the blocks on what percent banks can charge per credit card swipe as this was one of their main sources of revenue.
10/05/2011
WierdAl WierdAl
Quote:
Originally posted by wrecklesswords
Any Bank of America customers out there hear about the $5 monthly fee for using your debit card? Anyone mad about this and going to take their banking business elsewhere?
Your right on, I just didn't here when the $5.00 fee starts.
10/05/2011
wrecklesswords wrecklesswords
Quote:
Originally posted by - Kira -
Most big banks will be moving in this direction in the next year or so. If you want to avoid it you'll need to look into credit unions or online banks. At some point even those might need to move to this due to the blocks on what percent banks ...
Yeah, it's sad that this is the way of the world :-/
10/05/2011
Love Perpetua Love Perpetua
I don't really use a debit card, I usually take out cash. The extra charges really suck though.
10/06/2011
GravyCakes GravyCakes
wait, WHAT?! i'm a college student w/ no job that relies on my parents! WTF! i have a student checking & savings account, so i don't get charged for those unless i make more than 7 transfers in a month. it's going to suck when i can't have it anymore. but i rely on my debit card. maybe i'll luck out & they won't do it to people w/ student checking accounts.
10/06/2011
Darling Jen Darling Jen
I work for a Credit Counseling Agency and I can promise that they're not just doing that but multiple other suspicious and/or horrible things. Unless you've had nothing but good experience with them or you can't possibly move your stuff now, I'd run away from them!
10/07/2011
namelesschaos namelesschaos
Heard about this and now I looking to change bank haven't had any problems with boA but I'm not going to pay 5 a mouth to use my debut card is I can find a different bank.
10/07/2011
namelesschaos namelesschaos
Well, this is good news they have changed their plans: link and none of the other major banks are going to follow through either

...now to keep our eyes open for what other way they'll try o screw us
11/01/2011
js250 js250
Watch your interest rates!! We had almost perfect credit score and they were going to jump the interest from 3.9 to 22.49%. Oh, never late and always paid extra. Had over half the available credit unused as well.
11/01/2011
wrecklesswords wrecklesswords
Quote:
Originally posted by namelesschaos
Well, this is good news they have changed their plans: link and none of the other major banks are going to follow through either

...now to keep our eyes open for what other way they'll try o screw us ...
Well, that's great news! Woo hoo!

I will keep an eye out for what ever other fees they try to send to us, though.

I don't have any credit cards or loans so I don't have to watch out for interest rates just yet.
11/01/2011
Love Perpetua Love Perpetua
BoA announced that they won't be adding the fee for now, after all. I think it was due to the protest/petitions/nega tive attention they were getting.
11/07/2011
T&A1987 T&A1987
as seth meyers said on weekend update last night: "Congratulations on successfully getting Bank of America to rename their fee." I may not have remembered the words exactly, but the sentiment is the same, they'll find a way to tack the fee on somewhere.
11/07/2011
Tessa Taboo Tessa Taboo
I banked with them a long time ago, and ended my relationship with them after causing a scene in one of their locations after getting screwed out of money by the way they posted their overdraft fees. Fast forward 2 years, and there is a class action lawsuit for that very thing. Looks like I wasn't the only one. Now, I bank at a credit union, and I have never been happier.
11/07/2011
Darling Jen Darling Jen
Being someone who works in the finance industry - get out of big banks now if you can. And though a lot of them are corrupt beyond reason, one of the ones I dislike the most is Bank of America.

So who moved their money on November 5th???
11/07/2011
wrecklesswords wrecklesswords
Quote:
Originally posted by Darling Jen
Being someone who works in the finance industry - get out of big banks now if you can. And though a lot of them are corrupt beyond reason, one of the ones I dislike the most is Bank of America.

So who moved their money on November 5th??? ...
I actually didn't know ANYTHING about anything happening on November 5th, what happened? I've been disconnected from TV/Internet for over a week so I've missed out.

This shit is frustrating. Why did they decide to reinstate the fee?
11/08/2011
Rossie Rossie
BofA has already DUMPED the debit card fee idea on Nov 1, 2011.
11/08/2011
namelesschaos namelesschaos
Quote:
Originally posted by wrecklesswords
I actually didn't know ANYTHING about anything happening on November 5th, what happened? I've been disconnected from TV/Internet for over a week so I've missed out.

This shit is frustrating. Why did they decide to reinstate the fee?
I believe they are referring to Bank Transfer Day link
11/08/2011
Darling Jen Darling Jen
Quote:
Originally posted by wrecklesswords
I actually didn't know ANYTHING about anything happening on November 5th, what happened? I've been disconnected from TV/Internet for over a week so I've missed out.

This shit is frustrating. Why did they decide to reinstate the fee?
I don't have TV either but I read a whole lot of news. Yes, it was Bank Transfer Day. And yes, BoA did give up their $5 debit card fee idea and they were the very last bank to do so. But rest assured, you'll see the fee applied somewhere else...
11/10/2011
AndroAngel AndroAngel
I switched to a credit union years ago, and now I'm really glad I did. Even if they aren't going with that idea now, I'm sure they'll do something else outrageous.
11/10/2011
Total posts: 26
Unique posters: 16