After public and even political outrage at Bank of America’s recent announcement of tagging a $5 monthly fee for a customer’s privilege of using the bank’s debit card for purchases, Bank of America has finally dropped the plan. There will be no fee for using their debit card.
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From the chants of Occupy Wall Street protesters to the podiums of United States congressional leaders such as Sen. Dick Durbin, who called on customers of the bank to go elsewhere to do business, the message to Bank of America has been clear. The monthly charge was greeted with anger and calls for the masses to leave the bank.
At one point, the bank claimed that it was the customers who were complaining about the fee that they wouldn’t mind losing because, basically, they cost the bank more than they’re worth. Apparently, public image replaced that line of thinking because ongoing detestation of the bank’s image of greed continued to mount.
According to Bank of America’s Chief Operating Officer David Darnell:
Our customers’ voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.
Regardless of the latest good news for Bank of America customers, a basic checking fee is in the works for early 2012.
Source: CBS, NBC, ABC