A while back, we reported that Wells Fargo Bank was experimenting with monthly charges for use of their debit cards. The fee was $3.00 in any month that the debit card was actually used. ATM transactions would not result in a charge. Georgia is one of the states where the trial is going on.
Now, Bank of America has announced that they also will begin charging a monthly fee anytime a debit card is used within a month, even if it’s only one use – and the fee is $5.00!
I guess Bank of America needs our help to pay for their gross mismanagement during the mortgage loan crisis.
I hate things like this. The best way to protest – use your card only at ATMs. Stop using it to pay for purchases directly. If your bank assesses charges like this, write to the chief executive officer to let him or her know of your displeasure with this practice.