BOA to charge checking fees now.

[dixiegrrrrl]

Bank of America is changing its consumer banking strategy because of changes in regulation and because it wants to deepen its relationship with customers, Chief Executive Officer Brian Moynihan told CNBC Tuesday.

"Instead of charging penalty fees, we'll charge monthly fees," he added.

Starting with December, Bank of America (NYSE: bac) will give customers choices on how to pay for their banking services and will reward them for using certain products or bringing in more money, it said.


http://tinyurl.com/22o5d29
( goes to Yahoo finance story)

[DJ13]

1. They started charging checking fees years ago

That was why we went to our local credit union in 2005.

[qazplm]

4. I have a BOA account

and no checking fees for me, of course, I have a large amount of money in my account so that may explain why.

[sabrina 1]

2. No one should be banking with these big banks anymore.

Small community banks and Credit Unions are far better to deal with and treat their customers like people, not commodities whose only value is how much profit can be made from their existence, or even deaths.

[ejpoeta]

3. my husband's account at woodforest started charging $7 if the checking account

went under $100. i could see it for savings, but checking? he ended up closing it. he already has an account at a credit union and i have one at m&t. i have been thinking of moving mine to esl when they finish the local branch. and we may open accounts for the kids there. members are part owners and get dividends. and they have been very good to us.

[Angry Dragon]

5. Yes ........... Credit Unions may be the way to go

I have been with mine for almost 40 years

[kenny blankenship]

6. Withdraw your money and keep it at home.

[Cronus Protagonist]

7. I've been doing that and it works well

I truly know the value of my money now. I only spend what I need. No one can whip out extra bucks without my knowing. Oh, and the bank manager has to approve my check cashing now because I only keep enough in the bank for the monthly fees... they get nothing to play with and I pay them ten bucks a month to cash my checks for me. Seems about right tn me.

[Kat45]

8. How does charging monthly fees "deepen its relationship with customers"?

That is such bullshit.

[ejpoeta]

10. well it deepens the banks pockets while pulling money out of the customers pockets.

is that how?

[dixiegrrrrl]

13. I think it is an euphanisum for a new way to screw us over?

emphasis on the "screw"

[Po_d Mainiac]

9. Did I just read this right

“We continue to review and assess the letter, and have a number of question about its content, including whether these investors have standing to bring these claims,”

Like hey, we don't have a friggin clue what's in the shit we sold, so how they hell can they? If it wasn't so pathetic I'd be laughing my azz off!

[Po_d Mainiac]

11. oops wrong post

[CanonRay]

12. Making you pay for their fuck-ups. Again