The nation’s largest bank says it will now charge customers an extra five-dollars per month to use their debit cards. Bank of America expects to roll out the new fees, early next year, which come on top of current service bank fees.
Bank of America joins other banks which have been testing debit card fees, to help bring in more revenue. The change comes as new regulations begin October 1st, which caps the amount banks can collect from merchants when customers swipe their debit cards. There is no similar cap on merchants fees that banks can collect, when customers use their credit cards.

Comments (2)
  1. Sarah says:

    It’s time to give big banks the boot..When i’m putting money in your bank for you to use interest free to make more money and now you want to charge me a fee for holding your card? I say to all of them kiss my you know what and move on..I keep repeating you’ll need to move to a credit union or small banks that are not into exploiting you the best assets…We will have to make an example of one of the big four banks and put a couple of them out of business permanently…

  2. Camilla says:

    Wells Fargo sent me a letter about the new fee but since I have a large balance they said ” As a valued customer, you will not have to pay this charge.” I dont use their card anyway. I will definite move my account if they charge me. They only pay 1% interest on my money which is nothing. I think one of the banks just laid off a bunch of people.

Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.