Wednesday, November 2, 2011

Morning roundup: Reactions to BofA dropping debit card fee

Here's a look at what's news in banking and finance:

So, what's your take on Bank of America cancelling the debit fee? Is it enough to help restore the bank's image?


Anonymous said...

Glad to hear they cancelled those plans. Probably should have went the route of Wells Fargo and "tested it" in areas before announcing nationwide plans.
I am sure they will still need to make up the lost revenue somewhere else or there will be even more people out of a job. That should make the Occupiers happy, right?

Anonymous said...

So the question is now, where will they get the $5 from? I remember when they rolled out ATMs. Banks claimed it would SAVE us money because they were so much cheaper than bank buildings. Now they want $3 a pop to use one. Then came electronic transfers. Again, a promise to save us money as there is no paper to track, process, etc. But most banks want a $20 fee for a wire transfer. Then debit cards. Oops, $5 a month. That one was too expensive and too transparent. Where will they get it now?