Bank of America to Charge $5 Debit Card Fee

[jeffrey]

Bank of America plans to start charging customers a $5 monthly fee for using their debit card for purchases.

The fee will be rolled out starting early next year.

A number of banks have either rolled out or are testing such fees. Bank of America's announcement carries added weight because it is the largest U.S. bank by deposits...

Bank of America to Charge $5 Debit Card Fee - ABC News

[tlscott1]

the $5 fee is in direct correlation to the frank/barney act. We can all expect to pay more.

[kork13]

I saw this on a couple of news sites, and it just makes me grateful to use a great bank that actually focuses on customer service/satisfaction, and has never had many (if any) banking fees. I think in the coming years, fee structures will accurately reflect the banks that are a) truly customer focused or not; and b) truly strong and stable financially.

[disneysteve]

Just one more reason to use a credit card, not a debit card. Of course, I think we'll see more and more credit cards charging annual fees so it will equal out, unless the CC gives some added benefit for the fee. For example, I pay a $65 fee on my Marriott card but I get one hotel night per year in return which is worth more than $65.

[tripods68]

I'm sick and tired BIG banks tries to nickel and dime consumers. Time to change to credit union...