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

[Anonymous]

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.

[MrShush]

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.

[LS2982]

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

[Anonymous]

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@MrShush 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.

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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.

[Ron1]

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

Ron.

[Anonymous]

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

[Anonymous]

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@Anonymous wrote:

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

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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.

[Ron1]

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@Anonymous wrote:

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

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

Ron.

[Anonymous]

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

[Ron1]

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

Ron.