WRAL SmartShopper

WRAL SmartShopper

Bank of America $5/mo. debit card fee

Posted September 30, 2011

If you bank at Bank of America, you will want to read this article about the new $5 per month fee they are planning to charge customers starting in 2012. According to the article, you will be charged $5 per month whether you make 1 purchase or 50.  If you don't use it at all, you will not be charged a fee. There will not be a fee for using their ATM's. If you have one of the qualifying premium accounts, you will not be charged either. Click HERE for the full article.

Any thoughts? Any BoA customers thinking of changing banks because of this fee?


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  • swirlgirl027 Oct 2, 2011

    BOA is a horrible bank. I have hated them for years. Credit Union is the way to go.

  • nceducator79 Sep 30, 2011

    My husband and I have been with BOA for 8 years. We will be switching to the credit union. I get great deals as a state employee and intend to take advantage of that.

  • sewcountrycrafts Sep 30, 2011

    Good thing the banks needed a bailout from our taxes before they started charging their customers fees hmm? %&*~^#$!

  • marybethwright06 Sep 30, 2011

    I don't know when it changed ... but it used to be that banks were borrowing/using your money and paid you.

  • howlowcanyougolo Sep 30, 2011

    We opened an account with Coastal this morning and will be closing our accounts at BofA within a few weeks. I'm tired of being nickled-and-dimed.

  • busyb97 Sep 30, 2011

    a fee for using the teller?! Oh my.
    I'm at Coastal, and I'm moving my business account to them as well. Currently I'm with Suntrust because it's closer to my home, until I got the notice of the Debit-card fee, PLUS a $7 per month maintenance fee. They won't be keeping my business after next month.

  • brassy Sep 30, 2011

    Yuck. The reason I use my debit card is because BOA has fees for using the teller.

  • marybethwright06 Sep 30, 2011

    Yes happygirl I know that. One of the reasons I liked when they did not have that charge was because you could take a check directly to a bank where it was drawn and cash it without fees. This was especially helpful when you accepted checks that might or might not cash. An example would be when taking a check from a renter it was much better to find out it bounced at their bank that to have all that messy stuff happen at your bank.

  • nerdlywehunt Sep 30, 2011

    Go with a credit union....they work for YOU!

  • kimmyb0519 Sep 30, 2011

    I bank with Suntrust and received the notice of the fees about a month ago. I called my local branch and talked to a representative whom I had just opened an additional account a few days before with. I was furious that when I was there opening the account she said the changes coming would not affect me, and then a few days later I get notice of all these new charges. The rep told me it was to pay for AAA coverage and to cover faulty electronic purchases and there was no way to avoid the fees unless I kept a minimum of $3000 in each account. REALLY?! We moved our accounts to Coastal Federal last week. Could not be happier with their fee schedule, or should I say- lack there of! I know banks are a business looking to make money, but the new fees they are instituting are just ridiculous.