topic Re: BoFA is testing new fees for certain states after $5 debit card fee!!!! in Credit Cards

BoFA is testing new fees for certain states after $5 debit card fee!!!!

Ron1 — Thu, 01 Mar 2012 19:55:51 GMT

link:

http://www.businessinsider.com/report-bank-of-america-fees-2012-3

Ron.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Anonymous — Thu, 01 Mar 2012 20:02:35 GMT

Again???

I guess they didn't learn the first time?

Are they expecting no one to notice the second time around?

Just ask them how well even a $2 fee worked out for Verizon.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Ron1 — Thu, 01 Mar 2012 20:05:02 GMT

Yes, act again!!!!

Ron.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Anonymous — Thu, 01 Mar 2012 20:05:44 GMT

The public needed saving from themselves and this is what you get.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Ron1 — Thu, 01 Mar 2012 20:14:18 GMT

http://online.wsj.com/article/SB10001424052970204571404577253742237347180.html

http://news.investors.com/article/602807/201203011400/bank-of-america-tests-checking-account-fees.htm

Ron.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Anonymous — Thu, 01 Mar 2012 20:19:47 GMT

I bet they might even try to sneak this one under the radar, which in this day and age of social media, is nearly impossible to do.

I don't know which company is more bipolar, BoA or Netflix.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Anonymous — Thu, 01 Mar 2012 20:21:57 GMT

The overdraft decision came just months before the Dodd-Frank law halved what financial institutions could charge merchants for accepting credit and debit cards. That took away $2 billion in annual revenue from the bank.

This is why the free stuff we were so used to has vanished. Honestly, moving your money out to a community bank or credit union won't stop them (large banks) from creating new and fun ways to charge the existing customers. Repeal Dodd-Frank: step 1, reording debits from smallest to largest to minimize OD revenue: step 2. Finally, the customer has to be accountable for mistakes or blatant offenses.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

pizzadude — Thu, 01 Mar 2012 20:24:05 GMT

I'm SURE that this time they have done their homework, no chance that they would have to roll it back.....

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Ron1 — Thu, 01 Mar 2012 20:25:46 GMT

I'm not surprised they do it again after $5 debit card fee. I wondered if they can get away with it this time.

Ron.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Ron1 — Thu, 01 Mar 2012 20:27:14 GMT

I already have CU accounts to switch in case they do it to me.

Ron.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Anonymous — Thu, 01 Mar 2012 20:28:46 GMT

My checking account is with BoA. I didn't care about the debit card fee because I don't use a debit card for purchases anymore. My checking account avoids the monthly fee as long as I have direct deposit.

I really don't care if BoA implements a fee somewhere, if I can easily avoid it by just following my current monthly routine then my checking account remains with them, if I have to pay the fee then I move elsewhere.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Anonymous — Thu, 01 Mar 2012 20:31:52 GMT

The fees are pretty nominal. Just think of how much it would cost if there was no bank. Postage, money orders, check cashing fees. The costs of paying for checking far outweighs the burden of going bank-less. There are too many options out there than otherwise staying committed to BoA.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

LS2982 — Thu, 01 Mar 2012 20:40:22 GMT

this thread reminded me about closing this BofA inactive account i have! thanks!

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Anonymous — Thu, 01 Mar 2012 23:26:09 GMT

@Anonymous wrote:
The fees are pretty nominal. Just think of how much it would cost if there was no bank. Postage, money orders, check cashing fees. The costs of paying for checking far outweighs the burden of going bank-less. There are too many options out there than otherwise staying committed to BoA.

They may be nominal, but they sure add up over a large number of people. The reason bank accounts are usually free is because the bank is using your money to loan to others and collecting interest on it. That is your payment essentially. I bank with PNC, which still offers everything without fees. The minute they try to start charging me, I transfer all my accounts to PSECU.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Ron1 — Thu, 01 Mar 2012 23:21:15 GMT

They don't charge any fee for opening a checking or savings when you join CUs or USAA.

Ron.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Anonymous — Thu, 01 Mar 2012 23:49:54 GMT

Remember the good old days when banks used to pay you for keeping your money with them.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Anonymous — Fri, 02 Mar 2012 00:00:22 GMT

@Anonymous wrote:
Remember the good old days when banks used to pay you for keeping your money with them.

Yep, wasn't that so nice. I do love the PNC Virtual Wallet system though. I have a savings account as part of a trio that is easy to transfer money between that earns 0.55% interest. I try to do my best to keep whatever I'm not spending in there and at least get a little bit. Even if I mess up, they will use it as overdraft protection with no fees.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Ron1 — Fri, 02 Mar 2012 00:08:51 GMT

@Anonymous wrote:
Remember the good old days when banks used to pay you for keeping your money with them.

They paid you 5.5% for passbook savings back in 70s.

Ron.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Anonymous — Fri, 02 Mar 2012 00:13:26 GMT

Wow, that is incredible. I don't even think you can get that in a CD right now.

Re: BoFA is testing new fees for certain states after $5 debit card fee!!!!

Ron1 — Fri, 02 Mar 2012 00:22:55 GMT

I almost got 10% for CD back in70s. That's a good old days.

Ron.