Bank of America backs down on $5 debit card fee

Bank of America backs down on $5 debit card fee

news.yahoo.com

Bank of America Corp. is scrapping its plan to charge a $5 monthly fee for debit card purchases after outraged customers threatened an exodus.
The about-face comes as customers across the country petitioned the bank and mobilized to close their accounts in favor of credit unions and community banks. The outcry prompted other major banks, including JPMorgan Chase & Co. and Wells Fargo & Co., to cancel trial tests of their own debit card fees.

(visit the link for the full news article)

Mere hours before the November protest date they switch course!

When we stand united we can make real change, even to these large institutions!

Now, all that said... it's still time to switch to smaller credit unions and local banks and keep our money in the local community not being leached off us by these blood sucking banksters!!!



news.yahoo.com
(visit the link for the full news article)

I've already made a thread about this one!

Bank of America, Chase, Wells Fargo, SunTrust Banks, & Regions Financial ALL Drop Debit Card Fees!!

Too little, too late, BofA. Your feet are getting held to that fire until your toes burn off.

68,000 people are dropping the big banks before or on the 5th. That equates to 1 trillion in fractional currency lost every month from now and forever.

Those are only the Fb pledges. There are dozens of websites that have many thousands more.

Stepped in what?

This news should make everyone happy.

For those on the right, it is a sign the free market economy is alive and well: A company tries something its customers don't like, so they vote with their feet, leading the company to to change its ways in response. Textbook free-market economy in action. Adam Smith is smiling.

For those on the left, it is a sign that the banks have realized they can't just do whatever they want and they actually do have to listen to the people and their desires.

Win-win!

Originally posted by Partygirl
This news should make everyone happy.

For those on the right, it is a sign the free market economy is alive and well: A company tries something its customers don't like, so they vote with their feet, leading the company to to change its ways in response. Textbook free-market economy in action. Adam Smith is smiling.

Things that make Adam Smith smile make the American right cringe, actually. A reading of Wealth of nations, perceived from the stance of modern right-wing economics, actually makes Smith look like a screaming polemicist for the communist party. he actually endorses public education, by god!

Sure...They dropped the $5 debit fee, but now aren't they creating a $25 fee for checking under a certain limit?

I can't confirm this, but it was passed along my Facebook last night. I'd add the link but it gives my full name...lol
It is claimed that certain account holders are getting letters about the new fee.


""FYI:

Just watched a story on my local news about B of A. While they backed off their $5.00 a month fee to use a debit card, they are sending letters to checking account holders with relatively small average balances informing them that they will be charged $25.00 a month starting in December since they don't have enough money on deposit to be profitable for the bank.

Get your money out of Bank of America! (please) :-)"

That's hilarious. I guess the bank transfer day scared them into backing down. Those greedy bastards...

I'll never go back to them.


BoA has all kinds of retarded fees besides the card.

its like 5 bucks for a money order....
thy are 78 cents at a gas station
FREE at most other banks.

Originally posted by Lysergic
I'll never go back to them.


BoA has all kinds of retarded fees besides the card.

its like 5 bucks for a money order....
thy are 78 cents at a gas station
FREE at most other banks.

Money orders are usually free at payday loan places too even if you don't borrow money from them. I don't think BoA does money orders they do something like a cashiers check.

I think everyone saw these little "concessions" coming, and as another poster already replied, their efforts are "too little, too late." Banking fees added or removed aren't the problem. The problem stems from the illegal wars, the lobbying, the fed, and the rest of the criminal activity, which has left thousands in debt and/or homeless, the control over our government, and the reckless printing of fiat paper which has crippled the planet. Until these things are out of their hands...



~FugitiveSoul