The bank may have the right to protect itself from losing money
nossy Send a noteboard - 01/10/2011 03:15:52 AM
The responses seem overblown and entirely too emotional.
So, you're saying that if one maintains a comfortable amount of money in one's accounts, this isn't an issue? But if one is not capable of keeping a "modest" sum in the bank, it is? Wouldn't you say the latter is more likely to be keen on keeping every dollar possible? I do not think the reactions are odd. Not even remotely.
I get what you're saying, but without the fees the bank probably loses money servicing a certain percentage of the accounts which don't qualify. The erosion of the dollar and the ridiculously low interest rates we currently have are most likely factors for setting the amount and for some of its need.
That is most likely very true, but it doesn't mean people won't react emotionally. Especially those at whom it is technically aimed. Whether it is acceptable for banks to protect themselves or not isn't really relevant when gauging the responses.
Bank of America faces outrage over debit card charge
- 30/09/2011 06:27:03 PM
841 Views
I'm so glad I don't bank with them.
- 30/09/2011 07:01:32 PM
444 Views
I just went to TD for my personal acount today...we are still looking for our joint account... *NM*
- 30/09/2011 08:15:57 PM
154 Views
screw all the big banks
- 30/09/2011 07:19:36 PM
393 Views
I love my credit union, so drama free. I would never switch to a bank. *NM*
- 01/10/2011 03:04:39 AM
199 Views
Yeah, do more of what made folks mad enough to pass a federal law and kill your stock price. 
- 30/09/2011 08:35:19 PM
381 Views
- 30/09/2011 08:35:19 PM
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Hopefully this means no-one will dare do that here, having seen the reaction.
- 30/09/2011 11:11:29 PM
393 Views
Can't believe they're still in business. They are a shame to the human race. *NM*
- 30/09/2011 11:26:32 PM
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You mean BoA, not banks in general, right? 
- 01/10/2011 02:41:36 AM
484 Views
- 01/10/2011 02:41:36 AM
484 Views
Maintaining a modest sum of money in checking/savings/CDs obviates this charge and most others
- 01/10/2011 02:02:51 AM
443 Views
Hm?
- 01/10/2011 02:12:41 AM
383 Views
Right. It's not an issue if the combined total meets BoAs requirement.
- 01/10/2011 02:33:15 AM
554 Views
The bank may have the right to protect itself from losing money
- 01/10/2011 03:15:52 AM
466 Views
Yes, but griping about pains arising from symptoms does nothing to cure the disease.
- 01/10/2011 03:25:29 AM
455 Views
I'm still right. 
*NM*
- 01/10/2011 04:23:06 AM
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*NM*
- 01/10/2011 04:23:06 AM
156 Views
As long as account holders indefinitely surrender enough of their money for the bank to invest?
- 01/10/2011 02:35:49 AM
378 Views
No. I mean BoA doesn't want to have clients who cost money rather than make money for the bank.
- 01/10/2011 02:57:20 AM
447 Views
Well, charging people $5/month to use their own money will not accomplish that goal.
- 01/10/2011 03:24:07 AM
396 Views
Sure it will. They'll pay the fees or they'll leave. Either way BoA wins on that front.
- 01/10/2011 03:31:23 AM
503 Views
I suppose, if turning the departure of account holders into a stampede counts as "winning."
- 01/10/2011 04:18:11 AM
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If it's limited to the targeted account holders, the unprofitable ones, then it is winning.
- 01/10/2011 04:53:20 AM
462 Views
But the targeting is determined by how much money account holders semi-permanently loan banks.
- 01/10/2011 05:49:57 AM
523 Views
Love my credit union, I would never use a bank if I absolutely didn't have too. Go CUs! 
*NM*
- 01/10/2011 03:06:21 AM
167 Views
*NM*
- 01/10/2011 03:06:21 AM
167 Views