Dear Consumer, Bank of America just can't help itself. The nation's largest bank just announced that it will force customers to start paying a new fee of $5 every month -- just to use a debit card. This is the same bank that nearly tanked our economy with their reckless behavior, took $45 billion in taxpayer money, has kicked tens of thousands of families out of their homes, and has been repeatedly criticized for gouging consumers. It's just one fee too many for Bank of America customer and Change.org member Molly Katchpole. "I can barely afford to make ends meet," said Molly, who works two part-time jobs in Washington, DC. "Now I'm expected to hand over money to Bank of America each month just for using my own debit card?" Molly started a petition on Change.org demanding that Bank of America CEO Brian Moynihan cancel the bank's new $5 monthly debit card fee. Sign her petition now to stop Bank of America's new fees. Even if you're not a Bank of America customer, this should matter to you. This campaign will show other banks who are planning to follow suit that the public won't stand for Wall Street's newest way to take money from its customers -- and that they will take their money somewhere else. Bank of America's announcement this week about its new $5 debit card fee was no coincidence. On Saturday, new federal laws go into effect that stopped the bank from charging other fees that were deemed unfair. So in order to keep up their record profits, Bank of America's solution was to invent a new, unregulated fee to stick on its customers. There's still time to stop this new fee: Please sign Molly's petition on Change.org to pressure Bank of America to cancel its new fee, and stop other banks from thinking about creating their own debit card fees. Click here to add your name: Economic Justice Petition: Tell Bank of America: No $5 Debit Card Fees | Change.org Thanks for being a change-maker, - Jess and the Change.org team
Bank of America is not the only one, I just received notice for Regions Bank also. Going to a close that account now and stick with my credit union, they actually give me money back and the end of the year for using their sevices. I will get $50 this year! Oh and they give me points for using my credit/debit card, not a montly fee!! I only used Regions because I had my mortgage with them and it was easy to get part of my pay check deposited for automated mortgage withdrawl. Closing this week...
I am going to stick with using my credit union as well. The fees are a lot less. Hopefully the credit unions do not follow what the other large banks and start charging extra fees. Heather with BoostMyScore.NET
I hate BofA. Worst. Bank. Ever. Of course, they're not alone here...free checking will soon become a thing of the past.
What B of A is trying to tell you is that if you're not rich, then they don't value your business. These fees are designed to induce people who are not very profitable to the bank to either close their account, or fork over a ton of dough to help boost the bank's profits. Take their cue, close your account and move to a credit union or small locally-owned bank. I closed my account and moved to a credit union when my bank got bought out by these people, and I never looked back. The credit union not only doesn't charge me a fee to have an account, see a teller, use my debit card, but they pay ME money in the form of interest! Sure it's only a small amount, being a small fraction of a percent, but it sure beats paying $8 a month for having the account, $5 a month for having a debit card, plus whatever other fees the big banks can dream up!
