How many of you are keeping BOA Debit Card?

[smc733]

I just started migrating from BofA to Citizens Bank (In Boston) because of this.

Now I carry my Chase Freedom/Amex Blue Cash Everyday with me, but I don't like the idea that if I need debit as a backup, I'm getting a fee.

Honestly, BofA essentials with $14k in deposits, and I can't get free debit?  Screw you BofA.

[Seatown1two]

I was told by a personal banker that the gold checking (becoming advantage checking on oct 14th) will not have any fees associated with it as long as the minimum balance is maintained so I upgraded my account.

[Ron1]

I keep mine for now. I usually my debit for ATM.  I use my credit cards for retail and mail order purchases.  I already have a  couple of CUs as backup. I can move all money to CU. I don't BofA. It has nice online billpay, no envelope deposit ATMs, and nice Iphone Apps. It is nice enough to stay. It is not loyalty. It is business. Tell those CEO and board member that we don't need them. If we let them to get away this one, they will come up another one.  Don't you think we pay enough fee already?

Ron.

[CreditAble]

I can understand people's outrage over the fees. BofA's multi billion $ fee grab has been enabled by the so called "reforms" enacted by the government. The politicians get paid a lot of money by the banking lobby to do its bidding. Durbin handed the new fees to the banks on a silver platter.

Will all of the merchants pass along at least some of the $.20 (card swipe fee) savings to the consumer as a reduction in purchase price ? I don't think so. The merchant lobby has to get paid for their ongoing services to push congress to enact reforms to help the merchants. Congress will be quick to enact reforms that both opposing lobbies (banking and merchant) will accept.

I for one (almost) never use a debit card at point of purchase. I never ever use one for dining out with servers because of card skimmer risks. For now Bank of America doesn't charge for accessing its ubiquitous ATM machines. To be able to access my money 24/7 in every state that I happen be in is still a good reason to use my BofA debit card.

I encourage all others to do what's in their own best interests.  If everyone surrendered and accepted the Durbin fee by staying with BofA, It would be easier of ALL of the other banks to follow the (BofA) leader and add the fees. If no one protested, BofA would be more likely to let the other shoe drop sooner rather than later. The other shoe is the extension of fees to usage of ATM machines. These fees are inevitable although they will come in increments across the whole banking landscape. 

I just hope people will STOP begging for the bank owned politicians to protect us from ourselves. No politician will ever bite the hand that feeds him. All legislation to restrict profits will be used as an excuse to stick it to the consumer another way. 

[Anonymous]

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@CreditAble wrote:

Durbin handed the new fees to the banks on a silver platter.

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Let's see: The banks still can make more than 20 cents per swipe. Their costs are about 4 cents per swipe. I guess that a 400% profit margin is not enough.

[ontop]

As long as they dont charge me $5 bucks for not using their debit card for purchase, I keep banking with them. Otherwise, goodbye BoA!  There are plentiful of other CU debit cards in my wallet, not to mention a USAA debit card.

[jackig64]

I wonder if they will be forced to rename the Add it up Savings option that automatically transfers the cents to your savings when you use your debit card? Defeats the purpose. Saving and paying a fee for saving!

[Anonymous]

I've been with BoA since I was 17 (6 years).  Never really 'screwed over', but the fees are pissing me off.

First, they took part of TARP, due to their idiocy.

I give them my money to hold on to.  They use my money to lend to people (irresponisbly might I add) and make a decent amount back.  After that, they have the gaul to pay me less than 0.05% for using MY money? 

I have multiple savings accounts, a few of which are meant to never really hold much money as they are just where I seperate my funds until a bill comes... and they charge me $5 when my balance in those accounts falls below $300, as they are planned ot?

And to top it all off, they want to charge me to use my own debit card?

Where do they get off using my money to make a huge profit and paying me peanuts for that privelge, than penalizing me for using it myself?

I'm in the process of sending ALL my accounts over to USAA.

[haulingthescoreup]

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@Anonymous wrote:

I've been with BoA since I was 17 (6 years).  Never really 'screwed over', but the fees are pissing me off.

First, they took part of TARP, due to their idiocy.

I give them my money to hold on to.  They use my money to lend to people (irresponisbly might I add) and make a decent amount back.  After that, they have the gaul to pay me less than 0.05% for using MY money? 

I have multiple savings accounts, a few of which are meant to never really hold much money as they are just where I seperate my funds until a bill comes... and they charge me $5 when my balance in those accounts falls below $300, as they are planned ot?

And to top it all off, they want to charge me to use my own debit card?

Where do they get off using my money to make a huge profit and paying me peanuts for that privelge, than penalizing me for using it myself?

I'm in the process of sending ALL my accounts over to USAA.

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+1

You definitely won't get rich off their APR's either, but at least they show appreciation to their customers. I have never had a bad CS moment with them in the 30-whatever years that I've been with them.

[clocktick]

I have 3 accounts with BOA but I'll never hold a lot of money there because of their low, low interest rates.  They have more locations than I've ever seen when I travel the US and that's one reason I like them.  I have direct deposit through them and I have 2 other people, who I regularly transfer money with (and vice versa), that are members.  With that said, this fee is ridiculous as well as their minimum balance requirements.  I wish I could easily change but I just do not see enough locations with my credit unions, especially while traveling.