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September 30th, 2011
05:15 PM ET

Banks charging monthly debit card fees

Starting early next year Bank of America will begin charging a $5 monthly fee when customers make debit card purchases. U.S. News & World Report's Rick Newman details the 5 ways consumers can beat the new bank fees.

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Filed under: #Trending • Anchors • Brooke Baldwin
soundoff (9 Responses)
  1. Ralph

    TJ, it's irresponsible to say that nothing can be done about it. There is such a thing as a credit union. If BOA loses enough customers as a result of this money grab, they will change their tune. BOA's mission, is to turn their customers money into their money.

    October 1, 2011 at 11:18 am |
  2. Hoppy

    Attention Bank of America & Wells Fargo Bank customers !
    As you know these bank giants want to charge customers for debit card use
    Customers should retaliate! Stop using your debit card for 3 months & write checks instead. Everybody knows that debit card transactions save the banks millions over check transactions.
    BoA CEO Moynihan should go down the same path as Netflix CEO Hastings & learn that customers will only feed the pigs to a certain point.

    October 1, 2011 at 11:49 am |
  3. John from Erie, Pa

    This is the thanks we get for bailing out the banking industry. I would hope that Bank of America customers cancel their debit cards and move their money elsewhere.

    October 1, 2011 at 1:03 pm |
  4. deltasweetiepi

    They are willing to risk losing customers who been with them for more than twenty years. I say go right ahead because I will take what does go there and slide it all to NFCU

    October 1, 2011 at 1:28 pm |
  5. Tom

    Apparently Bank of America is now experimenting with their latest plan to charge users a premium for a web site that works properly :-).

    October 4, 2011 at 7:54 am |
  6. Tennille

    BofA recently altered their free checking rules where your direct deposit now has to have a minimum amount in order to qualify. I got slapped with a surprise maintenance fee of $15. With this fee and the rumor of the debit card use fee I will be closing my account after 10 years with them. I read earlier today someone was justifying the fee as "just the cost of doing business" but i think its the business of lining greedy pockets. The local credit union will now be receiving my money.

    October 5, 2011 at 7:27 pm |
  7. Bro

    They want 5.00 a month then lets give it to them, then we stop using Debt cards and use cash or checks. Make them earn that 5.00 a month by spending 10.00 a month in overhead to keep cash on hand and to cash checks. These people are sick, when we are hurting most, they want us to hurt more. OWS is a warning shot. Next time you pay for your crime of Financial Terrorism. OWS could very well be the beginning of the end for wells fargo. Americans have had enough!!!

    October 8, 2011 at 11:10 am |
  8. Beside Myself

    I am so beyond being nickle and dime'd to death..Back to cashing and paying cash.

    October 10, 2011 at 5:50 pm |
  9. Cat

    BOA are a bunch of crooks! Close your accounts and move your money elsewhere, if they lose enough customers, maybe they will change there tune!!!!!!!!!!!!

    October 11, 2011 at 10:45 am |

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