[vicar7]

Durbin told them to do and now they cannot even do it. This is a case of unintended consequences. I left Well Fargo when they started charging 15 dollars a month and went to Perk Street and would recommend that to anyone. Their customer service is awesome for online banking.

[atc23]

The last year I was with Wells Fargo, I added up all their charges to my chex account - 600 and change over the course of one year.

I have now been with First Entertainment Credit Union for almost one year- 24 dollars and change in fees.

I sympathize with the BofA vandals. My experience with them was even worse than Wells.

[Lonesome in Massachussets]

The Durbin Amendment (also known as the Wal*Mart Amendment) to the Frank-Dodd monstrosity compels Federal regulators to limit the transaction fees that certain large financial institutions can charge on debit transactions to the *incremental* cost of the transaction, determined however they can determine it. The large banks cannot charge to amortize infrastructure, fraud prevention and loss compensation, which makes debit transactions *unprofitable* for them. Wal*Mart lobbied heavily for this regulation.

The upshot is that BoA, which, as if October 1, can no longer recover from the retailers, wants to charge users. Frank-Dodd is also why free checking accounts will go away.

If you read the fine print on your savings account (and possibly on your checking account, though I don't think so, you know how it is with a "demand" account) the bank may require 30 days notification for withdrawls. It is something which is virtually never invoked, at least until Chris Dodd and Bawney Fwank destabilized the financial system.