How many of you are keeping BOA Debit Card?

[Anonymous]

Icing on the cake.

I just moved ALL my money from my savings accounts to my checking account so I could do 1 lump sum move.  I left each savings account at exactly 0.00   

I just logged on, and 2 of the savings accounts have $35.00 "Overdraft fees"

[CS800]

Why use debit when you can reap points on your CC?

I have transferred all my utilities and bills to my AMEX, then PIF before the due date. Just like using my debit card but with rewards.

[Walt_K]

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@Anonymous wrote:

Icing on the cake.

I just moved ALL my money from my savings accounts to my checking account so I could do 1 lump sum move.  I left each savings account at exactly 0.00   

I just logged on, and 2 of the savings accounts have $35.00 "Overdraft fees"

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What overdrafted the account? Did you get hit with a fee for making too many transfers or for lowering your balance below a min threshhold? If you're closing the account out and were transfering everything to consolidate, I'd just call them and see if they will waive the fee.  I'd guess they would waive it. Otherwise, they're doing an excellent job of making sure they'll never get your business again.

[KingAdrock]

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@CS800 wrote:

Why use debit when you can reap points on your CC?

I have transferred all my utilities and bills to my AMEX, then PIF before the due date. Just like using my debit card but with rewards.

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My thoughts exactly. I never use my debit card anymore. I like getting rewards, not to mention using the time value of money to my advantage.

[Anonymous]

Meh, I went in today to make the closings official and brought up the overcharges.  He looked at it, stumped at how I got the overdraft fee as well (as there was NO negative balance) and refunded the overdraft fees.  Then he transfered the $0.03 of interest I've accrused to my checking, then closed all the accounts.

I asked how many people were closing their accounts due to the fee and he said quite a few, but they've been really successful at "talking most back from the edge".  

He asked if that was why I was closing and I said yes.  He didn't try to keep me, but then again I was keeping my checking account and 5yo credit card account still open... checking only because I still get direct deposits there from my old job.  As soon as the last paycjeck comes in, I'll close it too, but keep the CC account until they close it from inactivity.

[KingAdrock]

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@Anonymous wrote:

He asked if that was why I was closing and I said yes.  He didn't try to keep me, but then again I was keeping my checking account and 5yo credit card account still open... checking only because I still get direct deposits there from my old job.  As soon as the last paycjeck comes in, I'll close it too, but keep the CC account until they close it from inactivity.

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Why do that? Just buy a soda every few months. 

[Anonymous]

Mainly because I don't want to support BoA with my money.

But also because I already cut it up and threw away the pieces.  I hate having too many cards in my wallet, I'm content with my AmEx/Chase/USAA CCs and debit card.  Infact I really dont want the Chase either since I now have the USAA as my backup Visa, but it's my second longest credit line so I might as well not shoot BOTH my feet.

[stoopidmunkee]

Well that's upsetting to hear that they are going to start charging people.  Are they going to alert the accounts that would be affected by this?  I would say that I'm upset about this since I loved my BoA account due to the Keep the Change feature they offer, but a local CU does that now, which I already do my main banking so I might need to say good bye to my BoA account.  I just loved that I could transfer money to pay off my CC the following day.

[CreditAble]

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@stoopidmunkee wrote:

I just loved that I could transfer money to pay off my CC the following day.

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No fee just to feed the BofA credit card.

No fee to use the debit card at BofA ATMs. 

[JMN]

According to my local branch manager, anyone with Merrill Lynch investment accounts will not be assessed the fee.

Guess I closed my debit card prematurely, as I have a healthy brokerage relationship with Merrill, but whatever. I never use the darned debit card, so there's no point in having it, fee or not, lol.

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@smc733 wrote:

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Enhanced is getting hit with the fee too.  That's why I moved to Citizens.  If you're going to tell me that someone who even keeps the minimum $6,000 to have that account isn't profitable enough that you have to charge them for a debit card, you must be running your bank poorly.

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DDAs and NOWs have no real profitability to a bank, if the customer doesn't overdraft. DDAs and NOWs cannot be used for lending purposes, thus, they don't really offer any real profit to any financial institution, whether it be B of A, Chase, Citi, USAA, Navy Fed, or even a local Credit Union. Just FYI.

Edit:

For the non-banking people: DDA = checking. NOW = interest-bearing checking.