Bank of America cancels debit card fees

  • metta

    Posts: 39169

    Nov 01, 2011 5:23 PM GMT
    Bank of America cancels debit card fees

    http://www.usatoday.com/money/perfi/credit/story/2011-11-01/bank-of-america-drops-debit-fees/51026748/1
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    Nov 01, 2011 6:02 PM GMT
    Power to the People! And so did my bank, Wells Fargo. Now now, what can we fight for next?

    Cut cable prices in half!
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    Nov 01, 2011 6:37 PM GMT
    Good news since I wasn't going to leave Bank of America. I had thought about leaving them and going to an area credit union. However, after thinking about it I realized I would have access to very few ATMs that belonged to the credit union and just a couple times using another bank's ATMs, I would probably equal or exceed Bank of America's $5 monthly fee for using the card as a debit. Here in the Detroit area there is a Bank of America like every mile and it is the same way in Palm Springs where I have a condo.
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    Nov 01, 2011 6:39 PM GMT
    Iceblink saidGood news since I wasn't going to leave Bank of America. I had thought about leaving them and going to an area credit union. However, after thinking about it I realized I would have access to very few ATMs that belonged to the credit union and just a couple times using another bank's ATMs, I would probably equal or exceed Bank of America's $5 monthly fee for using the card as a debit. Here in the Detroit area there is a Bank of America like every mile and it is the same way in Palm Springs where I have a condo.


    Many Credit Unions do not have ATMS. What they do, instead, is reimburse you for the fee that other ATMs charge you...
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    Nov 01, 2011 7:14 PM GMT
    Chainers said
    Iceblink saidGood news since I wasn't going to leave Bank of America. I had thought about leaving them and going to an area credit union. However, after thinking about it I realized I would have access to very few ATMs that belonged to the credit union and just a couple times using another bank's ATMs, I would probably equal or exceed Bank of America's $5 monthly fee for using the card as a debit. Here in the Detroit area there is a Bank of America like every mile and it is the same way in Palm Springs where I have a condo.


    Many Credit Unions do not have ATMS. What they do, instead, is reimburse you for the fee that other ATMs charge you...


    I could check into it, but sometimes I still need to go into the actual bank and having them in two places is a convenience I will just have to weigh against the poor customer service I've sometimes experienced at Bank Of America. I'm also lazy and don't want to deal with changing every bill paid by automatic debit.
  • Bigolbear

    Posts: 528

    Nov 01, 2011 7:33 PM GMT
    Iceblink saidGood news since I wasn't going to leave Bank of America. I had thought about leaving them and going to an area credit union. However, after thinking about it I realized I would have access to very few ATMs that belonged to the credit union and just a couple times using another bank's ATMs, I would probably equal or exceed Bank of America's $5 monthly fee for using the card as a debit. Here in the Detroit area there is a Bank of America like every mile and it is the same way in Palm Springs where I have a condo.


    Many credit unions also do not charge a fee to use another credit union's ATM machines and some even are a part of a national ATM system that gives you free ATM use across the country. My credit union even has an iPhone app to find a local surcharge free ATM via your phone's GPS.

    Another thing to consider is that credit unions do not charge you a monthly fee for having a checking account. In fact they offer you dividends for having a checking account with them and being a member.

    http://www.moveyourmoneyproject.org/why-you-should-move-your-money
  • Bigolbear

    Posts: 528

    Nov 01, 2011 7:39 PM GMT
    Iceblink said
    Chainers said
    Iceblink saidGood news since I wasn't going to leave Bank of America. I had thought about leaving them and going to an area credit union. However, after thinking about it I realized I would have access to very few ATMs that belonged to the credit union and just a couple times using another bank's ATMs, I would probably equal or exceed Bank of America's $5 monthly fee for using the card as a debit. Here in the Detroit area there is a Bank of America like every mile and it is the same way in Palm Springs where I have a condo.


    Many Credit Unions do not have ATMS. What they do, instead, is reimburse you for the fee that other ATMs charge you...


    I could check into it, but sometimes I still need to go into the actual bank and having them in two places is a convenience I will just have to weigh against the poor customer service I've sometimes experienced at Bank Of America. I'm also lazy and don't want to deal with changing every bill paid by automatic debit.


    My actual credit union is 40 miles away from where I live and work. I've been a member of it since I was a kid. If I get a paper check I can go to another local partner credit union here and make a deposit into my credit union account through them. Everything else is online or even managed through my phone app or via a phone call.