This Month's Chutzy Goes to.... Bank of America!

Okay Doc, I know banks are trying to get out of the Debit Card business because people very rarely overdraw them, but is this a real story or from Onion or one of those places? 

I don't have an account with that bank but I used my debit card instead of writing checks and don't have a credit card I could get very upset over something like this.

Happens to be true sorry to say Philly. Saw it in the news already. Talk about biting the hands that fed you. I hope they get what's really coming to them.

I'm just waiting for Starkers to read this.

Given his love of bankers....be prepared for the fallout.

The part where Mr Moyniham becomes emotional and thanks the taxpayer is why I asked the questions Uvah.  You know Doc, always trying to give us something to laugh at.  Though if the story is true it's not anything to try and make us laugh.  I know, taking things to serious.

this was so timely. we are in the process of switching from BofA to a credit union. seeing this just made us realize how timely that decision was.

get upset Philly, very upset if you are banking with a conventional bank (BofA, Wells, BB&T, etc.). We use our debit card (PIN required) at least 30 times a month. It's as good as cash and has the extra security of the PIN. Best bet is a credit union, we're moving all of our accounts, including mortage and getting 3.25% for a fixed 15 year loan.

just got notified that one of my accounts went dry, which was intentional, the check cleared. attempted to access the account to close and the BofA site is down.

Thanks Frank-Dodd!

How do you expect them to recoup all the losses from the lawsuits?

Good plan, since they can no longer restructure the order of thier customers transactions to maximize the overdraft fees they charge, they decide to impose a flat monthly fee. Nice way to treat your customers BofA. I wonder, will you at least offer them a kiss while screwing them? 

This kind of greed makes me happy I deal with a credit union. While they do make money, I've never had to pay them a fee. 

I can hear starkers revving up his response. Take cover.

I thought it was BofA? believe the guys name is Moynihan not Frank-Dodd.

I had to call to close this account and the person that I "chatted" with indicated that because of my balance and mortgage that I would be exempt from the charge. So if you have the money you won't get charged but if you don't you will. I guess that by using your credit you would also incur interest but if you can afford to pay your CC monthly you won't.

sounds to me like some type of class warfare but what do I know.

Ah yes, another well-deserved "Chutzy".   Didn't Warren Buffet just recently write them a big fat check?

It just make me proud.

and yet, most banks charge a fee if your balance is below a level that most average people don't have, and no public out cry for those fees. If you use said debit card at a different atm you are charged 2-3 (or more) bux for that transaction.. and that doesn't make national headlines.

BoA holds my mortgage and that is all so this fee does not affect me, but c'mon, quite a substantial amount of people pay more than $5 in simple atm fees or regular checking account service fees in a months time. This is simply not as big a deal as is made out to be.

I doubt Barney (Frank) James and the Sun (Dodd) Dance Kid had much to do with it though, but that's a topic for another discussion of crime and highway robbery....

tip of the iceberg Phoon, just the tip of the iceberg.

I won't disagree with you on that. Break out your coffee cans. But then again, cash is becoming less acceptable isn't it.

You can't even use cash to buy a bag of peanuts on an airline after being prodded in the poop-shoot by Barney the TSA Fife now....

The thing that is wrong with this is the Debit Card should be no different than writing a check on your account, you don't get charged a fee, other than normal service chagers for writing a check to a business.  Now if they want to drop the monthly service charges on the checking account then that's a different story.

How much do you pay for a box of checks?

I still have the original box I brought, not sure how much it was, and there is a monthly service charge on the account. I haven't written a check on the account.  They do pay interest on the average balance.

With my credit union...nothing.

They also pay interest on my accounts and there are no monthly fees.

Most credit unions have over 50 account programs that are fee free, which a few of you would qualify for.

switching over to our credit union I was shocked that they charged $19.00 for a box of checks. I haven't paid for checks for many years. In order not to be charged one has to carry a minimum balance of $100K. As our mortgage exceeds that, when the loan is approved they will reimbursement me for the charge. The emphasis is to go electronic banking and I'll go that route, it makes sense to do so. I like the bank's bill pay as I make/approve the payment and it is not an automatic deduction.

Our credit union has no live tellers at the branches. it's a Max Headroom experience. The ATM's are linked to the main office and works like video conferencing. I can use other credit union's atm's to withdraw cash and one is less than a mile away from home. We don't usually have reasons to actually visit our bank so even though our credit union branch is not close by...

My interest rates with BofA was 0.07%, with the credit union 0.35%.

We have some interesting changes to make but we both feel really good about leaving BofA.

Heartland Bank, where I bank= No ATM fee, no service fees, free checking from an interest earning combined checking/savings account with no minimum balance.(good thing,that,lol)

Fee for using the ATM card at other banks range from $1.79 to $1.99.

We even got gifts when opening the account

We opened it last year with a LOT of help from our wonderful friends at WinCustomize. You guys and gals are the greatest.

It was a genuine pleasure to help a friend, Wiz.

Surprised me old Cap'n hasn't seen this thread yet... or, he might've blown a gasket or melted a mother board when he saw it. Uh oh.

Buildup...building up to.............................................??

Nope, I've been preoccupied elsewhere.

Right now [cos it's 5.26am and I'm knackered] all I gotta say is....  f**king bankers!!!!!!!

When I'm more rested I'll respond more appropriately.

Hmmm, my bank pays me £5 interest every month...

Maybe you should emigrate