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The Library => Haley Center Basement => Topic started by: CCTAU on November 01, 2011, 01:16:05 PM

Title: Bank of America learned the hard way.
Post by: CCTAU on November 01, 2011, 01:16:05 PM
Bank transfer day was about to whip that ass.

Quote
Bank of America nixes $5 debit card fee
Bank of America nixes $5 debit card fee, joins other big banks
Candice Choi, AP Personal Finance Writer, On Tuesday November 1, 2011, 11:51 am

NEW YORK (AP) -- Bank of America is nixing its plans to charge a $5 debit card fee.

The news comes after other major banks, including Chase and Wells Fargo, said last week that they were canceling tests of similar fees.

Bank of America had said last week that it would stand by its decision to roll out the $5 monthly fee starting next year.

The about-face by the banking industry comes amid growing public anger over higher fees. A movement to get customers to switch to credit unions and community banks had marked this Saturday as "Bank Transfer Day."

http://finance.yahoo.com/news/Bank-of-America-nixes-5-debit-apf-1430157304.html?x=0
Title: Re: Bank of America learned the hard way.
Post by: GH2001 on November 01, 2011, 02:04:12 PM
"tests" - what a fucking copout.
Title: Re: Bank of America learned the hard way.
Post by: Vandy Vol on November 01, 2011, 02:05:51 PM
Regions and SunTrust are also removing their debit card fees, although Regions appears to be keeping its new account fee ($10 for most basic accounts).
Title: Re: Bank of America learned the hard way.
Post by: Townhallsavoy on November 01, 2011, 02:10:00 PM
So they essentially swiped a five dollar bill from every one of their customers. 

Title: Re: Bank of America learned the hard way.
Post by: Vandy Vol on November 01, 2011, 02:11:39 PM
Quote from: Townhallsavoy on November 01, 2011, 02:10:00 PM
So they essentially swiped a five dollar bill from every one of their customers.

Yup...and left the larger fee intact.
Title: Re: Bank of America learned the hard way.
Post by: GH2001 on November 01, 2011, 02:15:08 PM
Quote from: Townhallsavoy on November 01, 2011, 02:10:00 PM
So they essentially swiped a five dollar bill from every one of their customers.

This guy gets it.

It was a "test".
Title: Re: Bank of America learned the hard way.
Post by: Vandy Vol on November 01, 2011, 04:49:09 PM
Quote from: GH2001 on November 01, 2011, 02:15:08 PM
This guy gets it.

It was a "test".

Not sure about the other banks, but Regions is refunding the fee.
Title: Re: Bank of America learned the hard way.
Post by: GH2001 on November 01, 2011, 11:12:14 PM
Quote from: Vandy Vol on November 01, 2011, 04:49:09 PM
Not sure about the other banks, but Regions is refunding the fee.
The big national ones won't.