Bank of America will start change $5.00 fee on Debit card Holders.

**Danny** · September-30-11, 10:05 AM

Those who are members of Bank of America. By next year they will charge you $5.00 fee everytime you use your debit card. This is a attack on the middle class, when the middle class is attacking Wall Street. We must uprise America proletariats and middle class. Fight against corporate greed, destroy government-plutomony.

WORD FROM STREET PROPHET

I urge to take your back accounts away from Bank of America and go to socialist owned credit union for Neda's sake.

**Trumpeteer** · September-30-11, 11:36 AM

"go to socialist owned credit union"

Then your money becomes everone's money

**ejames01** · September-30-11, 11:40 AM

False

It is $5.00 per month.

**Trumpeteer** · September-30-11, 12:24 PM

You beat me to that and many other banks already charge the flat $5/mo fee. This is only if you use the card as a "check" card requiring a signiture. If used with a PIN code for purchases or ATM withdrawals there is no fee at least with my bank SunTrust.

**rb336** · September-30-11, 12:44 PM

Originally Posted by Trumpeteer

You beat me to that and many other banks already charge the flat $5/mo fee. This is only if you use the card as a "check" card requiring a signiture. If used with a PIN code for purchases or ATM withdrawals there is no fee at least with my bank SunTrust.

you don't get the non-bank atm fee? you sure?

I'm done with BoA. DFCU, here I come

**Trumpeteer** · September-30-11, 12:57 PM

NEVER a charge for using the card for ATM PIN purchases at any retailer. Also get four free non-SunTrust ATM withdrawal fees waived per quarter up to $10 total. Wells Fargo did the same. I switched to my current bank due to Wells Fargo's pathetic online banking system, i.e. submit a payment online and it takes a minimum of TWO business days before the payee receives it

Sometimes as many as SEVEN business days,

**Zacha341** · September-30-11, 06:15 PM

Hmm, I hope that is the case. I am with B of A and really like the service and fast turn around for out of state checks and they've even waived a few of my unfortunate overdraft fees when I've asked. BTW there's a class action suit re. their overdraft fees which are under dispute. I got my letter about two months ago. It is based on how their billing statement catagorized debits which could mislead you to thinking you had more money then you do...

Originally Posted by Trumpeteer

You beat me to that and many other banks already charge the flat $5/mo fee. This is only if you use the card as a "check" card requiring a signiture. If used with a PIN code for purchases or ATM withdrawals there is no fee at least with my bank SunTrust.

**Zacha341** · September-30-11, 06:16 PM

LOL! Credit unions can be slow for processing personal checks but I do use one for my savings where speed is not an issue.

Originally Posted by Trumpeteer

"go to socialist owned credit union"

Then your money becomes everone's money

**Trumpeteer** · October-01-11, 11:57 AM

Originally Posted by Zacha341

Hmm, I hope that is the case. I am with B of A and really like the service and fast turn around for out of state checks and they've even waived a few of my unfortunate overdraft fees when I've asked. BTW there's a class action suit re. their overdraft fees which are under dispute. I got my letter about two months ago. It is based on how their billing statement catagorized debits which could mislead you to thinking you had more money then you do...

No hope just fact. Wells Fargo Sucks and SunTrust provides great service at minimal cost..

**Blueidone** · October-01-11, 01:26 PM

I heard that BOA's charge is for anything except cash withdrawals...and it is $5.00 per month. I find this extremely offensive, especially since merchant all pay for the service of doing credit card or bank card transactions. So they will be getting money from both the merchant and the customer.

**coracle** · October-01-11, 03:32 PM

I agree with you Blueidone. BOA are doing it [[and I'm sure other Banks will follow suit) because whereas they used to get 44 cents from the Merchant on every Debit Card transaction, there is now another new REGULATION in place to reduce this to 21 cents. So in sticking it to the Banks, the unforeseen consequence is that the consumer will pay $5 per month instead of zero, because I'm sure the Merchant won't pass his 23 cents savings on to the consumer. Now BOA will get half from the Merchant and a half [[plus a bit) from the customer and the customer again will be the loser from this brilliant legislation which was passed for his benefit.

**Blueidone** · October-01-11, 05:48 PM

Thanks for the clarification, Coracle. I'm sure other banks will follow. Another ramification I see of this is: Because of the fee, more people will take cash out to do their shopping, because there is no fee. So, coming into the holiday season, more people will be walking around with cash in their pockets or purses and be open to those thieves who take advantage of such things. Or, in the alternative, people will write more checks, which increases the service fee for some, or at least the cost of printing checks. So yes, the consumer gets screwed again.

**Jimaz** · October-01-11, 06:15 PM

Originally Posted by Blueidone

...Another ramification I see of this is: Because of the fee, more people will take cash out to do their shopping, because there is no fee. So, coming into the holiday season, more people will be walking around with cash in their pockets or purses and be open to those thieves who take advantage of such things....

I foresee a market for self-destructive wallets. It the wallet gets too far away from the transmitter in your other pocket, it destroys its contents. Poof! Surprise, bad guy!

Just don't leave home without your transmitter! LOL!

**East Detroit** · October-01-11, 07:54 PM

Actually, if more people pay with cash, that is good for the local economy.

Then 5% of every purchase doesn't go to NYC or Iowa or wherever.

Of course, I'm assuming the shopping is occurring at locally owned stores... kinda optimistic of me.

**antongast** · October-01-11, 09:33 PM

I want my Standard Federal account back.

**Detroitej72** · October-01-11, 11:02 PM

The bottom line is this: pay for cash for everything to avoid all the fees imposed upon us by Wall Street.

By doing that, you take money out of the pockets of the genius's that got America into this financial mess.

**Goose** · October-01-11, 11:17 PM

Originally Posted by coracle

I agree with you Blueidone. BOA are doing it [[and I'm sure other Banks will follow suit) because whereas they used to get 44 cents from the Merchant on every Debit Card transaction, there is now another new REGULATION in place to reduce this to 21 cents. So in sticking it to the Banks, the unforeseen consequence is that the consumer will pay $5 per month instead of zero, because I'm sure the Merchant won't pass his 23 cents savings on to the consumer. Now BOA will get half from the Merchant and a half [[plus a bit) from the customer and the customer again will be the loser from this brilliant legislation which was passed for his benefit.

bingo

this same effect will occur when taxes are raised on corporations and "the rich", they will extract their money by some other means...

yet some liberals think the cost of extra taxes on "the rich" will somehow not be paid by "the rest of us",,,,,,,,

**oladub** · October-01-11, 11:52 PM

This isn't just an attack on working people. The rich are having to pay for banks to hold their money. In this case, it costs the banks money to insure the deposited money and the banks can't get much interest on treasuries. I read elsewhere that the banks are having trouble finding enough borrowers because of economic uncertainties so they are stuck with a surplus of cash and don't need more. http://www.npr.org/blogs/money/2011/...ustomers-money

**Zacha341** · October-02-11, 07:41 AM

I hear that.... I've been thru the whole series of transitions and conversions, going back to Michigan National, to Standard Federal, Lasalle, and now BOA. It's getting expensive!

Originally Posted by antongast

I want my Standard Federal account back.

**Zacha341** · October-02-11, 07:45 AM

I will continue to use my debit card just as I do now. I am not changing anything - I'm not going to carry more cash - I'll just have to adapt to the fee. Not going to adapt my lifestyle in a manner that might put me in harms way. Thankfully I found a way to cut down on my monthly phone bill so that will offset the bank fee.

Originally Posted by Blueidone

Thanks for the clarification, Coracle. I'm sure other banks will follow. Another ramification I see of this is: Because of the fee, more people will take cash out to do their shopping, because there is no fee. So, coming into the holiday season, more people will be walking around with cash in their pockets or purses and be open to those thieves who take advantage of such things. Or, in the alternative, people will write more checks, which increases the service fee for some, or at least the cost of printing checks. So yes, the consumer gets screwed again.

**coracle** · October-02-11, 08:37 AM

I've got two Debit Cards that I have only ever used to get money from their respective ATM's. For some reason I've never liked them and would never make a purchase with them. I know this attitude is irrational but I just can't get over it. I find purchasing everything with a Credit Card that is tied to a Rewards program has worked for me. I'm very careful to not spend more that I have available to pay off the Card in full at the end of each month. I don't carry a balance so I don't pay any interest, while at the same time over the last several years I've "earned" back $300 - $500 cash per year. I love that cash back. My theory is that if you don't carry a balance you might as well use a Credit Card for everything because whether you do or you don't the Credit Card Fee is built into the Merchant prices - although Gas Stations have started offering a lower price for CASH. My Card has been giving me 5% back on Gas which is about 18 cents per gall. However a sign of the times is that these Credit Card are trying to cut back on some of their offers.

**jiminnm** · October-02-11, 01:27 PM

Originally Posted by coracle

I've got two Debit Cards that I have only ever used to get money from their respective ATM's. For some reason I've never liked them and would never make a purchase with them. I know this attitude is irrational but I just can't get over it. I find purchasing everything with a Credit Card that is tied to a Rewards program has worked for me.

I don't think you'r3 irrational. There have been far too many debit card security breaches with the merchants and their card readers. Since someone can drain your bank account with a debit card and your credit card losses are limited by law, I too will stick with credit cards [[except for ATM withdrawals).

**Blueidone** · October-02-11, 02:03 PM

That's fine for those of you who have or want credit cards. I do not have one. I cannot get one...[[long story, but suffice it to say that my credit score isn't high enough). And I really don't want one because I know my limitations. The debit card works better for me because I can't spend it if I don't have it.

But as with everything else...I guess I'll have to deal with it, but I don't have to like it.

**Zacha341** · October-02-11, 02:15 PM

I've been using Debit cards for over 10 years. I love it... and have only had a couple of double chargers and they have only been with gas stations. I write some checks but find is just as easy to track my items in my check book with my debit card. I just write DBT in the ch # spot and the place and the amount and deduct from my balance just like I was writing a check... I'll just have to adapt to the fee. But I am going to write a letter of complaint.

**313WX** · October-02-11, 02:27 PM

I'm taking out my money immediately.

I guess I'll grudgingly switch over to Comerica since they have that "On The Job Banking" thing [[unless I'm out of town and I must use Bank of America), even though they royally screwed us around back in 2007.

I would stick with my credit union but I need a bank/credit union with locations all over.