- go back to counter withdrawals
- move to a different bank
We’re in the process of closing out 28 year account with these vermin. Well before this stunt. We use the debit card once every few months. THey are not getting MY money for using MY money.
This has to do with new Federal taxes on financial transactions that are part of Dodd-Frank and the Oxley bills, and the fact that they can’t pass these taxes on to consumers, as well as the new overdraft rules.
“Bailing out” of BOA asap!
In all fairness, quite a few of these banks paid back the TARP money, with interest.
As far as these new debit card fees, you can blame the democrats for forcing banks to lower the transaction fees they collected from the merchants. Just more of all that hope and change people voted in 3 years ago.
Just use a credit card and pay it off every month.
It is not the bank’s faults. Its the Fed that won’t charge interest rates, the entire financial sector is barely holding on.
Wells Fargo is going in the same direction - and all banks are going to follow -
AND - they will charge for checking accounts, too! WF is already charging it’s customers $5/month in some areas!
And - you want to fly overseas? If your baggage is more than allowed - it will cost you $400! You want a pillow on the plane? $10. You want extra onions on your plate at a restaurant? Expect to pay up to a dollar. And Raspberry Iced tea is now up to $3/glass in most restaurants.
Face it. We are going to be nickled and dimed at every turn from here on out - and we all know who to blame!
Is there ANY government fee/tax/charge/whatever that ANYone pays that costs less than $60/year?
ML/NJ
Welp,
I am going back to cash.
Eff em.
BofA was one of the first banks to aid and abet illegal aliens, as these invaders send tens of millions of American dollars out of the country, back to Mexico.
IMHO, Congress wants us to change our method of paying for stuff. Why else would they pass regulations like this?
Fine. I’ll change. I’ll go to the ATM, withdraw a bunch of cash, go to the store and spend it. Everybody wins except the bank. The store wins because they won’t have to pay the debit card transaction fee. I win because I won’t have to pay the debit card monthly fee.
The bank will lose twice: First because my checking account balance won’t be as high (I’ll be carrying it in my pocket) and second because there won’t be a transaction fee from the store.
Screw Congress.
And if the bank decides to charge a flat monthly fee on my debit card? I’ll go to all cash and switch the debit card for an ATM-only card. And if the bank decides to charge a flat monthly fee on the ATM card? I’ll go back to writing checks. And if the bank decides to start charging for my checking account? There’s always the credit union. They appear to really want my business.
The bank will NOT win. I won’t let them.
I won’t use a debit card for other reasons. They’ll give you an old fashioned ATM card if you ask for it, but they hide the fact and push the debit cards.
This fee was used by banks to offset losses from fraudulent charges caused by stolen cards and id theft. It was paid by the retail store. They lobbied for the change.
Will will see if prices "drop" at retailers. Yeah right!
Not blaming banks on this one.
Cash, and money orders for stuff from out of state.
So my Eeevil bank is going to soak me for $60 per year ? ... in the same year that my beloved state of Illinois lovingly permitted me to contribute an extra 3% of my gross income for the good of Illinoisan humanity ?
I only regret that that’s $60 dollars less that I can contribute to the mother state. Smash the banks.