BofA Will NOT Charge for Using Debit Card

Posted on November 1, 2011

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Bank of America’s plan to charge customers 5 dollars monthly when they use their debit card has been shelved. 

 The unpopular debit fee faced a lot of criticism from consumers.  Many people vowed to switch to smaller banks when the fees were to start taking place next year.  For these reasons, BofA dropped the proposed debit fee.

 Last week, banking giants Wells Fargo & Co. and J.P. Morgan Chase & Co. also dropped fees.

 For more information, please call your bank to see how your finances will be affected.

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Posted in: Boston, Communities