topic Re: How many of you are keeping BOA Debit Card? in Credit Cards

How many of you are keeping BOA Debit Card?

Red1Blue — Sat, 01 Oct 2011 12:48:36 GMT

After the recent BOA monthly charge for Debit Cards, I am curious how many of you are keeping your cards? I have 3 accounts and 4 Debit Cards. Not sure if I want to pay $240 AF for them.

Re: How many of you are keeping BOA Debit Card?

GST2008 — Sat, 01 Oct 2011 13:18:29 GMT

What type of accounts are getting charged fees on debit cards? I haven't been charged yet for the debit card associated with my checking account.

Re: How many of you are keeping BOA Debit Card?

clocktick — Sat, 01 Oct 2011 19:17:59 GMT

They say that's not why their site was down all of yesterday but, I don't know. I didn't hear about the annual fee but I thought it was per swipe every time you use it. Either way, I don't use it. Do you get charged for having one? That's how I go to the ATM to deposit.

Re: How many of you are keeping BOA Debit Card?

chasmith — Sat, 01 Oct 2011 13:37:47 GMT

From what I've read in the WSJ, the fee is monthly and not charged unless you use the Debit Card as a Debit Card. No charge for ATM use. So if you never swipe at a store, and use ATM there should be no fee. That's pretty much what all the big banks (no collusion or anticompetitive activity of course) are doing.

I won't ever deal with a major bank again. NFCU, First Tech FCU and USAA for me!

Re: How many of you are keeping BOA Debit Card?

-Cain- — Sat, 01 Oct 2011 13:39:22 GMT

It is $5/month if you use it for purchases/payments. One use will hit you with $5, every other for that month does not incur additional charges. Use at the ATM will also not trigger the fee. Cost to use per year would be $60/max. Still $60 too much IMO.

Re: How many of you are keeping BOA Debit Card?

minimock — Sat, 01 Oct 2011 14:54:10 GMT

I checked into it, because I pay $30 bucks a year for my usairways debit card with them. They said it is considered a premium debit card, so no charge. It might be the way to go if you don't want to pay 5 bucks a month, and you get 1 mile for each dollar spent.

Re: How many of you are keeping BOA Debit Card?

pizzadude — Sat, 01 Oct 2011 14:56:13 GMT

Does the $5 month fee apply if you request merchants to run your card as a credit card ?

Re: How many of you are keeping BOA Debit Card?

-Cain- — Sat, 01 Oct 2011 14:56:52 GMT

Interesting about the USAirways card, thanks. You also will not be charged if you have a mortgage with BoA or if you keep a combined daily balance of $20k.

Re: How many of you are keeping BOA Debit Card?

-Cain- — Sat, 01 Oct 2011 14:57:43 GMT

Yes. Debit or credit does not matter. Only free use is at ATM.

Re: How many of you are keeping BOA Debit Card?

Anonymous — Sat, 01 Oct 2011 15:38:36 GMT

I really won't be using it for anything but an ATM card. I can use a CC and get cash back, anyways. I like their on-line banking and won't jump ship but may change payroll deposits to USAA and get their debit card.

Added by edit: Called USAA and requested a debit card. They have a phone app that allows deposits, I can just write myself checks out of the BoA account while transitioning away from them. They have great on-line banking but I honestly have never gotten over FIA's absolute inability to show goodwill towards its credit card clients. My guess is a lot of people are making moves because their website is essentially dead.

Re: How many of you are keeping BOA Debit Card?

barbaralee — Sat, 01 Oct 2011 15:33:10 GMT

Well, I WAS trying to dump them. But I have been with them so long... and they have honestly been so good to me... that I am finding it very difficult to do. Now I have checking accounts all over the place with USAA, FTFCU, as well as Alliant. But BofA has been my go to bank, my first account I opened up on my lonesome following my separation/divorce.

I was telling my SO about them charging for debit use and he was appalled, lol. He is one of those "No card is worth a fee" type of person. Here's my thing: I very rarely use my debit card. In fact, almost never. The last time I used it was at an ATM. So my motivation to switch my money over is based more on what if I have to use my debit card. I don't want to be charged a fee.

Re: How many of you are keeping BOA Debit Card?

flyingmd — Sat, 01 Oct 2011 16:28:47 GMT

Just downloaded the iphone app. I cant find the option to make a deposit. Am I missig something?

Re: How many of you are keeping BOA Debit Card?

Denny33142 — Sat, 01 Oct 2011 16:42:02 GMT

Remember fellas that the new government law does not apply to banks that have less than 10 Billion in assets, i live in Miami and even the largest local bank here has less than 5 Billion in assets, So i think it is pretty safe to say that only large banks will have that debit card fee.

Re: How many of you are keeping BOA Debit Card?

Ron1 — Sat, 01 Oct 2011 17:02:23 GMT

@pizzadude wrote:
Does the $5 month fee apply if you request merchants to run your card as a credit card ?

Yes.

Ron.

Re: How many of you are keeping BOA Debit Card?

Anonymous — Sat, 01 Oct 2011 17:06:18 GMT

I already canceled my Bank of America debit card. The banker looked horrified as to why anyone would do such a thing.

If I need cash, I'll use my Discover at a grocery store.

Re: How many of you are keeping BOA Debit Card?

Anonymous — Sat, 01 Oct 2011 18:18:06 GMT

I literally just got back from Bank of America. I canceled my checking and savings account after holding a $0 balance on them for the past two years. I have a CC with them so that was the only reason why I kept it. When I heard that they were charging for debit card usage, I made the decision to cancel both accounts, while obviously keeping the CC open.

Re: How many of you are keeping BOA Debit Card?

Anonymous — Sat, 01 Oct 2011 18:43:13 GMT

@flyingmd wrote:
Just downloaded the phone app. I cant find the option to make a deposit. Am I missig something?

If you're asking about USAA: They seem to have restrictions on mobile deposits beyond simply having a checking account. It seems you need an insurance policy or credit card with them to guarantee the account.

I'm going to call and ask, though.

Re: How many of you are keeping BOA Debit Card?

UFGuy2006 — Sat, 01 Oct 2011 19:16:12 GMT

@Anonymous wrote:
@flyingmd wrote:
Just downloaded the phone app. I cant find the option to make a deposit. Am I missig something?

If you're asking about USAA: They seem to have restrictions on mobile deposits beyond simply having a checking account. It seems you need an insurance policy or credit card with them to guarantee the account.

I'm going to call and ask, though.

The mobile deposit feature is limited to those members who have or are eligible for "insurance" products ... a.k.a full members only. I hope at some point they open this functionality to everyone (including limited members like myself).

Re: How many of you are keeping BOA Debit Card?

Anonymous — Sat, 01 Oct 2011 19:26:06 GMT

@UFGuy2006 wrote:
@Anonymous wrote:
@flyingmd wrote:
Just downloaded the phone app. I cant find the option to make a deposit. Am I missig something?

If you're asking about USAA: They seem to have restrictions on mobile deposits beyond simply having a checking account. It seems you need an insurance policy or credit card with them to guarantee the account.

I'm going to call and ask, though.
The mobile deposit feature is limited to those members who have or are eligible for "insurance" products ... a.k.a full members only. I hope at some point they open this functionality to everyone (including limited members like myself).

Additionally, you need pre-approval for insurance, insurance or some other loan product with them to use this feature. Being a full member isn't enough, I just called and spoke with a representative. He also said pre-approved offers are usually to members who already have an existing credit or insurance relationship with them. He wasn't aware of a manner that I could get a soft pull. I didn't ask who they would pull for an actual app.

I really don't want to burn an Inq and get kicked out of the Garden club to use the feature, LOL!

Re: How many of you are keeping BOA Debit Card?

Anonymous — Sat, 01 Oct 2011 19:32:11 GMT

I have accounts at BoA and my local credit union. And quite honestly, I really could care less about the $5 month debit card fee. BoA has been my "go to" bank for many years. To be honest, I have wasted $5 on less important, and even ridiculous, things, so I'm not going to cry about this. I have my paycheck direct deposited into both my BoA account and my CU account. If my pay day falls on a Saturday BoA credits my account on Saturday; if my pay day falls on a Monday, BoA still credits my account on Saturday. My CU, however, doesn't do that. If my payday falls on a Saturday, my CU credits my account on Monday. My CU also doesn't allow for cash deposits, or deposits at all, at their ATM. So if this minor charge is all that I have to sacrifice to have that "big bank" convenience, then I'll do it. I do love my credit union, though, but the efficiency of a big bank happens because of these minor charges.