Bank of America to charge $5 debit card fee

[Acid Trip]

As someone who runs several banks here is some advice. If your bank does ANY of the following then CLOSE YOUR ACCOUNTS!

1) If you get charged a monthly fee to have or use a debit card
2) If there is a monthly fee just for having a demand deposit account (aka checking)
3) If you withdraw money from an ATM that your bank doesn't own your bank should not charge you, only the bank who owns it can should charge you (US only)
4) If you are limited on the number of withdraws from your demand deposit account (aka checking)
5) If you get charged for online banking, bill pay, or e-statements

All of these services should be FREE! No exceptions!

[Muddy]

I don't pay any fees including for money orders. They know if they fuck with me, I'll start moving accounts..

Now back to the original post... Does the fee still get charged if you use the ATM card as a 'credit card' vs the 'debit function'? Even thought they both draw off the same account.

[Acid Trip]

I don't pay any fees including for money orders. They know if they fuck with me, I'll start moving accounts..

Now back to the original post... Does the fee still get charged if you use the ATM card as a 'credit card' vs the 'debit function'? Even thought they both draw off the same account.

Yes. If you use your card in any way other than to withdraw cash from an ATM you will be charged a $5 fee that month.

[Muddy]

Yes. If you use your card in any way other than to withdraw cash from an ATM you will be charged a $5 fee that month.

What a fuckin' crock.. I guarantee this will hurt their business...

[Teh One Who Knocks]

What a fuckin' crock.. I guarantee this will hurt their business...

Unless all the banks start doing it...

[Muddy]

They better hope the other banks jump on board quickly...

[Acid Trip]

What a fuckin' crock.. I guarantee this will hurt their business...

Hopefully this will be a wake up call for millions of Americans. If the fact all the big banks got bailed out with tax dollars didn't make someone close their accounts maybe this $5 fee will.

My bank was hoping the big banks came tumbling down in 2008 so we could buy their assets for pennies on the dollar. The bailouts fucked that up though.

[Muddy]

I use Suntrust for checking and such and they seem to be pretty solid..

[Hal-9000]

As someone who runs several banks here is some advice. If your bank does ANY of the following then CLOSE YOUR ACCOUNTS!

1) If you get charged a monthly fee to have or use a debit card
2) If there is a monthly fee just for having a demand deposit account (aka checking)
3) If you withdraw money from an ATM that your bank doesn't own your bank should not charge you, only the bank who owns it can should charge you (US only)
4) If you are limited on the number of withdraws from your demand deposit account (aka checking)
5) If you get charged for online banking, bill pay, or e-statements

All of these services should be FREE! No exceptions!

TD Canada Trust, one of the biggest institutions up here.

Do you wanna send them a letter on my behalf? The whole country is getting charged this way on points you list.You put US only for #3, we get charged both by the ATM provider and then our bank as well.

[Hal-9000]

That's a joke. F-that.

I've had a debit card for 15 years and only just started paying fees (students pay none). I pay about 10$ a month for services and everything. Seems a little high to me but I can live with it.



Interesting what Joey was saying though... I dono what he's talking about, I've used mine for simple every-day transactions forever just because it's fast and easier than carrying cash. Canada has had nation-wide interact direct payment for a while. I do remember going down to the US a lot and it not being very common until more recently

I'm with TD....I'll post my monthly fees so you can stop your 10 dollar whining

[Hal-9000]

Guess who will be calling his bank this weekend

30 dollars for the privilege of using their services last month...holy crapfuck

[Muddy]

Guess who will be calling his bank this weekend

30 dollars for the privilege of using their services last month...holy crapfuck

I have one checking account where they actually pay me interest on the money I have...

[Acid Trip]

TD Canada Trust, one of the biggest institutions up here.

Do you wanna send them a letter on my behalf? The whole country is getting charged this way on points you list.You put US only for #3, we get charged both by the ATM provider and then our bank as well.

In the United States that was called that double dipping and it was outlawed. Why should your bank charge you $1.50 when you pulled the money out from some other bank's ATM? The other bank has to refill the ATM and such so the cost is warranted. To your bank it's just a regular withdraw.

Look at community banks where you live and a better deal should be easily available. Big banks = bad. TD Canada Trust sounds like the Canadian version of BofA.

[Hal-9000]

I have to pay the 14.95 fee to use the account overall.....checking and unlimited debits.
I have to pay the 3.00 overdraft protection as well so I pay 18/month not matter what.

the 'other bank' fees is where I'm getting raped and that's my fault using ATM's for cash that aren't 'my bank' machines....

what a racket they got going up here...

[Acid Trip]

I have one checking account where they actually pay me interest on the money I have...

There are online checking/savings accounts that pay better than most brick and mortar banks. ING Direct pays .25% on checking accounts and 1% on savings. It links to your current bank using electronic transfers so moving money between them is easy.