I thought the debit card was the lovechild of cash and credit card? Bank of America (BOA) is planning to launch in 2012, this new $5 monthly fee for debit card usage. They are hoping to encourage customers to use credit cards and cash more than their debit cards. And to also collect more money because they are going broke! The lower your monthly balance, the more they may charge you - so try to stay above $1500 a month!
We are being nickled and dimed by everyone else, and now BOA? The “best” and “largest” bank that holds our money? Clearly they want people to revert back to hidden safes behind the Picasso in the study or stacks of cash under the Sealy mattress. If we can’t keep our money in a bank without being able to actually keep our money, what is the point?
Warren Buffet invested $5 billion, and yet you still have to take my hard-earned $5? Has the world gone mad?! Off with their heads!