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Sure it will. They'll pay the fees or they'll leave. Either way BoA wins on that front. Vodalus Send a noteboard - 01/10/2011 03:31:23 AM
That is what that amounts to, right? I agree with Tim: As long as account holders are in the black, the bank owes them, not the reverse.

People can vote with their feet, find another bank, stuff their mattresses or whatever. I'm not defending BoA so much as pointing out the obvious.

Fair enough, but it seems like both account holders and investors are voting with their wallets; in terms of making money, this seems another huge gaffe.


All banks are down right now. The scary thing is whether the media makes it such a PR disaster that the non-targeted customers start withdrawing money to go elsewhere.
南無阿弥陀仏!
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Bank of America faces outrage over debit card charge Aisha - 30/09/2011 06:27:03 PM 1100 Views
I'm so glad I don't bank with them. Tom - 30/09/2011 07:01:32 PM 690 Views
I just went to TD for my personal acount today...we are still looking for our joint account... *NM* Aisha - 30/09/2011 08:15:57 PM 256 Views
screw all the big banks random thoughts - 30/09/2011 07:19:36 PM 626 Views
I was relatively happy with Wells Fargo when I used them... LadyLorraine - 30/09/2011 08:18:34 PM 570 Views
Agreed, but read the fine print when you switch. Joel - 30/09/2011 08:21:31 PM 736 Views
I agree Praziquantel - 30/09/2011 11:25:00 PM 696 Views
I love my credit union, so drama free. I would never switch to a bank. *NM* everynametaken - 01/10/2011 03:04:39 AM 295 Views
Yeah, do more of what made folks mad enough to pass a federal law and kill your stock price. Joel - 30/09/2011 08:35:19 PM 619 Views
Hopefully this means no-one will dare do that here, having seen the reaction. Tim - 30/09/2011 11:11:29 PM 627 Views
You'd think that. Morgawse - 01/10/2011 01:13:33 AM 795 Views
Really like, and have already stolen, that last line. Joel - 01/10/2011 02:40:44 AM 758 Views
It seems so silly. Like a knee-jerk reaction. nossy - 30/09/2011 11:14:40 PM 684 Views
Can't believe they're still in business. They are a shame to the human race. *NM* Praziquantel - 30/09/2011 11:26:32 PM 272 Views
You mean BoA, not banks in general, right? Joel - 01/10/2011 02:41:36 AM 735 Views
Yes, I specifically mean BofA. Praziquantel - 01/10/2011 02:52:20 AM 560 Views
I know, I was just teasing. Joel - 01/10/2011 03:21:59 AM 702 Views
Maintaining a modest sum of money in checking/savings/CDs obviates this charge and most others Vodalus - 01/10/2011 02:02:51 AM 683 Views
Hm? nossy - 01/10/2011 02:12:41 AM 616 Views
Right. It's not an issue if the combined total meets BoAs requirement. Vodalus - 01/10/2011 02:33:15 AM 763 Views
The bank may have the right to protect itself from losing money nossy - 01/10/2011 03:15:52 AM 689 Views
Yes, but griping about pains arising from symptoms does nothing to cure the disease. Vodalus - 01/10/2011 03:25:29 AM 675 Views
I'm still right. *NM* nossy - 01/10/2011 04:23:06 AM 268 Views
I never said you were wrong. Vodalus - 01/10/2011 04:41:23 AM 660 Views
I just like hearing people say it. nossy - 01/10/2011 03:31:45 PM 770 Views
As long as account holders indefinitely surrender enough of their money for the bank to invest? Joel - 01/10/2011 02:35:49 AM 610 Views
No. I mean BoA doesn't want to have clients who cost money rather than make money for the bank. Vodalus - 01/10/2011 02:57:20 AM 667 Views
Well, charging people $5/month to use their own money will not accomplish that goal. Joel - 01/10/2011 03:24:07 AM 615 Views
Sure it will. They'll pay the fees or they'll leave. Either way BoA wins on that front. Vodalus - 01/10/2011 03:31:23 AM 727 Views
I suppose, if turning the departure of account holders into a stampede counts as "winning." Joel - 01/10/2011 04:18:11 AM 696 Views
If it's limited to the targeted account holders, the unprofitable ones, then it is winning. Vodalus - 01/10/2011 04:53:20 AM 684 Views
But the targeting is determined by how much money account holders semi-permanently loan banks. Joel - 01/10/2011 05:49:57 AM 742 Views
$20K is not a modest sum of money to keep in the bank *NM* random thoughts - 01/10/2011 02:58:55 PM 259 Views
modest=$100,000 *NM* Aeryn - 01/10/2011 04:36:56 PM 258 Views
Wells Fargo is considering a similar fee *NM* Roland00 - 01/10/2011 02:29:39 AM 396 Views
Love my credit union, I would never use a bank if I absolutely didn't have too. Go CUs! *NM* everynametaken - 01/10/2011 03:06:21 AM 261 Views
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