This is why I have my money in three different banks, one of them being the Credit Union through work. If I ever want to shift accounts around it's easy to do, and it's something I've done in the past depending on what perks are being offered where. What I'm really curious about is will BoA charge that fee if you always run your card as credit instead of as debit? I haven't been able to find that situation explained anywhere.
Anyone's bank about to to charge new fees?
- Thread starter krichardson
- Start date
Sounds to me like it's just the debit card transactions to counteract the limits they are only allowed to charge merchants for processing.
That's what I was thinking...if that's the case then you should be able to swipe your checking account card as credit instead of debit and not have to pay the fee. I've already been doing this with other accounts that charge a per transaction fee for every debit purchase after a set number/month.
To answer your question ... BOFA will start charging some customers $5 a month if they make more then 1 debit card transaction per month early 2012. This charge will exclude BOFA atm transactions but any reaccuring charge to your debit/check card will count. Other banks will follow suit like Wells, Chase. SunTrust, Regions and BB&T.
Basically the Banks need to drive $$$$ because the federal goverment has limited them on fees they can charge merchants but has not limited the amount companys like Visa and MasterCard that get paid for the logo being on the card.
Basically the Banks need to drive $$$$ because the federal goverment has limited them on fees they can charge merchants but has not limited the amount companys like Visa and MasterCard that get paid for the logo being on the card.
last time i was at the bank, they asked me if i wanted to open a savings account. i was like you have to give me money to open one. they were like yes we give x percent. i was like ,no you give me 50$ as a bonus to open the account. one laughed and the other one gave me a blank stare.
moral of the story is i didnt open a savings account.
moral of the story is i didnt open a savings account.
