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| Topic: BofA scraps $5 monthly fee | |
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The only reason the banks did this was because people were dropping them and going to smaller banks and credit unions. I encourage all who do business with any of the big banks to leave ASAP especially BofA because they give cards to illegals.
Bank of America Corp is dropping plans to charge a $5 monthly fee for debit card use, a source familiar with the matter said on Tuesday. The second-biggest U.S. bank becomes the last big bank to backtrack from plans to charge customers a monthly fee for using their debit cards. JPMorgan Chase & Co and Wells Fargo & Co last week decided to cancel test programs, while SunTrust Banks Inc and Regions Financial Corp said on Monday they would end monthly charges and reimburse customers. Bank of America had planned to start charging customers next year. Banks began crafting the monthly charges to make up revenue lost to a law that slashes the fees they charge retailers when consumers swipe their cards. The fees sparked a firestorm of criticism from consumers and politicians, and many smaller banks and credit unions shunned the practice. Bank of America began softening its stance on the fee last week. The Charlotte, North Carolina, bank planned to give customers more ways to avoid the charge, such as maintaining minimum balances, having a paycheck direct-deposited or using their Bank of America credit card. |
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...Power To The People.. 
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BofA is one of the worst banks out there.
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I've been hearing stories of mistreatment by BofA for years, and recently some friends of mine tried to withdraw their money and BofA would not let them, simply because they were previously carrying signs opposing the bank.
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I think the "Occupy" movement worldide is working! We're making them nervous & THIS is proof! :)
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The 5th is National Bank Transfer Day...move money from banks to credit unions & show THEM who's boss!
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The only reason the banks did this was because people were dropping them and going to smaller banks and credit unions. I encourage all who do business with any of the big banks to leave ASAP especially BofA because they give cards to illegals. Bank of America Corp is dropping plans to charge a $5 monthly fee for debit card use, a source familiar with the matter said on Tuesday. The second-biggest U.S. bank becomes the last big bank to backtrack from plans to charge customers a monthly fee for using their debit cards. JPMorgan Chase & Co and Wells Fargo & Co last week decided to cancel test programs, while SunTrust Banks Inc and Regions Financial Corp said on Monday they would end monthly charges and reimburse customers. Bank of America had planned to start charging customers next year. Banks began crafting the monthly charges to make up revenue lost to a law that slashes the fees they charge retailers when consumers swipe their cards. The fees sparked a firestorm of criticism from consumers and politicians, and many smaller banks and credit unions shunned the practice. Bank of America began softening its stance on the fee last week. The Charlotte, North Carolina, bank planned to give customers more ways to avoid the charge, such as maintaining minimum balances, having a paycheck direct-deposited or using their Bank of America credit card. LOL, we (Americans)can have bank accounts across the world with no problem but no mexican can have one here, how stupid is that? I am sure my bank has dropped the one it was planning to do. I have had the same account for almost twenty years and was considering moving to a credit union. |
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...Power To The People..
Aye... and without shouting in the streets and wrestling with the police. It was done by the Vote of Cesar... The good old dollar. How many accounts did BofA loose before they decided to roll it back? Capitalism at work. |
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Edited by
boredinaz06
on
Tue 11/01/11 09:33 PM
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The only reason the banks did this was because people were dropping them and going to smaller banks and credit unions. I encourage all who do business with any of the big banks to leave ASAP especially BofA because they give cards to illegals. Bank of America Corp is dropping plans to charge a $5 monthly fee for debit card use, a source familiar with the matter said on Tuesday. The second-biggest U.S. bank becomes the last big bank to backtrack from plans to charge customers a monthly fee for using their debit cards. JPMorgan Chase & Co and Wells Fargo & Co last week decided to cancel test programs, while SunTrust Banks Inc and Regions Financial Corp said on Monday they would end monthly charges and reimburse customers. Bank of America had planned to start charging customers next year. Banks began crafting the monthly charges to make up revenue lost to a law that slashes the fees they charge retailers when consumers swipe their cards. The fees sparked a firestorm of criticism from consumers and politicians, and many smaller banks and credit unions shunned the practice. Bank of America began softening its stance on the fee last week. The Charlotte, North Carolina, bank planned to give customers more ways to avoid the charge, such as maintaining minimum balances, having a paycheck direct-deposited or using their Bank of America credit card. LOL, we (Americans)can have bank accounts across the world with no problem but no mexican can have one here, how stupid is that? I am sure my bank has dropped the one it was planning to do. I have had the same account for almost twenty years and was considering moving to a credit union. That was racist, I never said anything about Mexicans but you just let everyone know that you regard illegals as being Mexican. |
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I think the "Occupy" movement worldide is working! We're making them nervous & THIS is proof! :) I think there is just a grain of truth in this... in the sense that the occupy movement is helps push along dialog, helps promote some ideas... such as the idea that BofA is a shitty bank. The 5th is National Bank Transfer Day...move money from banks to credit unions & show THEM who's boss!
Credit unions rock! |
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How many accounts did BofA loose before they decided to roll it back? Capitalism at work. Exactly. Capitalism with an informed populace, making sound decisions, and sometimes making decisions in unison. |
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Ain't that the way its supposed to work?
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