Thursday, September 29, 2011 - 12:10 PM

Bank Of America To Start $5 Monthly Fee For Debit Cards

Bank of America announces it will be starting a $5 monthly fee on debit cards early next year. The fee will be charged only if you actually use your card to make a purchase that month. It will not be charged solely for use at an ATM.

Bank of America to charge $5/month for debit cards - Yahoo! Finance

Chase and Wells Fargo already are testing a $3 monthly fee.

me1004235 posts since
Jan 16, 2010
Rep Points: 1,430

1. Thursday, September 29, 2011 - 4:00 PM

Yesterday it was hard to get past the greeter who wanted to make sure I had a debit card. The teller also wanted to see my debit card. I was simply making a deposit and asked if I was going to be able to do so using account slips. She said yes but that it was easier to have the customer swipe the debit card so they could see the account. Based on your post I think I understand the assertive behavior...

Romulus1 posts since
Sep 19, 2011
Rep Points: 3

2. Thursday, September 29, 2011 - 4:26 PM

I am not bothered by the $5 monthly fee, since I do not make any purchases with BofA debit card anyway.

However, the potential implication that RCAs may also follow suit is truly scary.

51hh623 posts since
Jan 16, 2010
Rep Points: 3,066

3. Thursday, September 29, 2011 - 8:44 PM

Is this the beginning of the end of RCAs?

csmith7779 posts since
Jan 3, 2011
Rep Points: 17

4. Friday, September 30, 2011 - 8:43 AM

Will they charge the $5 if you make only signature-based purchases?

larkin47 posts since
Jun 18, 2010
Rep Points: 183