BoA Dropping Planned $5 Debit Card Fee

[Spurminator]

http://news.blogs.cnn.com/2011/11/01/bank-of-america-dropping-planned-5-debit-card-fee/

Bank of America is dropping its planned $5 debit card usage fee after widespread customer complaints.

"In response to customer concerns and the changing competitive marketplace, Bank of America no longer intends to implement a debit usage fee," the company said in a statement. "We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” said David Darnell, co-chief operating officer. “Our customers’ voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so."

[tlongII]

Good. I really didn't want to go through the hassle of changing banks.

[Drachen]

... great and all of you should still be moving to a CU

[RandomGuy]

... great and all of you should still be moving to a CU

Working on it. Have it linked to so much now, it takes a great deal of effort to untangle and transfer stuff.

Fuckers are counting on that shit.

Fuck Frost Bank. "we value customers, look at our happy website" then they turn around and do all the predatory piece of shit fees that all the other big banks that they try to differentiate themselves from by blathering on about "customers matter" do.

Assholes.

[Drachen]

Working on it. Have it linked to so much now, it takes a great deal of effort to untangle and transfer stuff.

Fuckers are counting on that shit.

Fuck Frost Bank. "we value customers, look at our happy website" then they turn around and do all the predatory piece of shit fees that all the other big banks that they try to differentiate themselves from by blathering on about "customers matter" do.

Assholes.

Took me about a month to make it happen, but after that it was done.

[pawe]

Is this because of the Nov 5 bank transfer day threat?

[leemajors]

I already dropped them and went with UFCU in Austin.

[boutons_deux]

BoA and others will get their $5s elsewhere.

fees for less-than-minimum checking balances, overdraft fees ($38B in 2009), usurious cc rates, etc, etc.

btw

5 Credit Union Myths Debunked

Myth No. 1: Only employees of certain workplaces are eligible to join credit unions.

Myth No. 2: Credit unions are great places to stash savings but offer fewer services than banks.

Myth No. 3: Credit unions are great for local banking, but the lack of nationwide branches is a big inconvenience.

Myth No. 4: If I use a credit union rather than a bank, my savings won't be guaranteed by the FDIC.

Myth No. 5: Credit unions require new members to pay a fee to join.

http://www.dailyfinance.com/2011/11/01/5-credit-unions-myths-debunked/

[CubanMustGo]

Myth 4 is true. They're guaranteed instead by the NCUA.

Would love to know how many customers BoA has already lost.

[4>0rings]

Too late BofA, already switched and I'm not going back.

[fraga]

In the process of moving my credit balance to another card...fuck BOA...

[ChuckD]

... great and all of you should still be moving to a CU

This. Time magazine said in an article today that they'll just hide the fees in the small print. They're going to get the money. They'll just use the time honored method of changing the terms of your account on the fly.

Anyone who stays with a Big Box bank deserves what they get.

[DMC]

lol they're all the same idiots who paid off their loans too fast (to avoid paying interest) and now are once again struggling.

[SA210]

People should still move anyway

[TDMVPDPOY]

whats BOA net profit for the year so far?

[RandomGuy]

whats BOA net profit for the year so far?

http://finance.yahoo.com/q/is?s=BAC

As of June 30, -$8bn

3Q should be out pretty soon.

[cheguevara]

LOL BOA will just make the money some other way. they just fucking with you all

[Blake]

Myth No. 3: Credit unions are great for local banking, but the lack of nationwide branches is a big inconvenience.


no home mortgage loans through CUs.....:(

Wells Fargo bought out my mortgage note two years ago and as of a few months ago, they no longer allow me to pay online unless I open up a checking account with them.

Unless I want to pay phone convenience charges, I actually have to bust out a check and a stamp.

I have everything else through my CU but somehow big bank is still raping me and telling me to like it.

[desflood]

no home mortgage loans through CUs.....:(

Sure there are - mine does it. Don't know if they all do though.

On topic, BoA doesn't understand that dropping the fee won't stop their customer losses - it's not even about that stupid fee anymore. It's the principle of the thing now.

[pawe]

I'll transfer my money on Nov 5. Fuck these big banks already.

[Blake]

Sure there are - mine does it. Don't know if they all do though.


well that sucks. just checked and now mine does it.

I wonder if the effort to have my cu take over the note would be worth it.

[desflood]

We're going to look into refinancing through ours. Citimortgage doesn't really float my boat :lol

[RandomGuy]

Sure there are - mine does it. Don't know if they all do though.

On topic, BoA doesn't understand that dropping the fee won't stop their customer losses - it's not even about that stupid fee anymore. It's the principle of the thing now.

Yup.