Wednesday, November 2, 2011

BofA, Feeling the Burn, Dumps Debit Fee Plan

Bank of America has decided not to drop its plan to charge $5 per month for debit card purchases after customers got completely pissed off and let the bank know about it.

"Our customers' voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so," co-COO David Darnell said.

Other banks, like J.P. Morgan Chase, have also ditched their debit fee plans.

Bank of America noted that all businesses as some point have to answer to consumers, and evidently Bank of America reached that point.


2 comments:

Joe T said...

That is awesome, now I don't have to switch banks...

Anita Santa-Coloma said...

I think it is ridiculous that they would even start charging it takes the whole point out of banking and feeling comfortable with a certain ONE bank, who wants to be switching around avoiding fees??