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Bank of America to start charging $5/mo for debit card
From my recall over the past several years; BofA is always about pushing as many fees as possible. In some areas of MI, the customer has little choice in some of the small, rural areas; where BofA has bought up the smaller community banks. I have no need or desire to be a customer of BofA. I continue to support the local banks and CU's.
they are pick-pockin you any chance they get, just like the current US Govt trying to cut back on everything and raisin' bunch of taxes!.... beat us down while we are on the ground. it's out-rageous. better check on those deals on local FCU/ Fed Cred Unions and probably sign up w/ these firms, much better deals IMHO [google search - highest checking federal credit union]
Reply to @Anonymous: I continue to fail to see - and will probably continue to - what the investment thesis is for the banks. If you're going to institute a $60 a year fee to use a debit card, you're going to alienate a fairly large degree of your customer base, so you'll end up driving away your deposit base. I'm sure other banks will have to start charging these fees as well, but I'd guess you're going to see one (or more) that doesn't in an attempt to get the business. The fees listed on their website are absurd (and appear to have gone up in the last year.)
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[google search - highest checking federal credit union]
Ah, reform; such a generous word with so many meanings, eh?