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Bank of America to End Overdraft Fees on Debit Card Purchases

Wednesday, March 10, 2010 - 7:26 AM
Bank of America just announced the overdraft fee change in this press release
Bank of America today announced that beginning this summer it will only authorize single debit card transactions at the point of sale if a customer has enough money in their account at the time. [...] This change will help customers by reducing the likelihood they may inadvertently overdraw their account and thus eliminate unexpected overdraft fees on these transactions.
According to
The Federal Reserve recently announced new requirements that are slated to go into effect in July. But the Charlotte, N.C.-based lender's move goes one step further.
Would Bank of America have done this if it weren't for the Fed's new requirements?
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708