We support reforms to the financial marketplace to curb bad practices by banks and lenders.
Bank of America debit card fee outrages customer
When will it stop? I bank at Bank of America and use my debit card for the majority of my purchases either in person or via the internet. The majority of internet businesses require the use of a credit card or a debit card and not a check. DUH!
You should also know that the irony of this proposed fee is in conflict with their cash rewards back program. You are eligible for a percentage back on certain purchases such as gas and groceries. Gas purchases receive 3% cash back that is deposited into your account. The minimum percentage back is 1%. Over a year’s time you can earn a sizeable amount of money in your account. So you see my outrage. It seems as though they are forcing me to write checks for all purchases so that they can avoid paying cash back.
I use my debit card for everything and strongly feel that this fee is just another way to boost profits so that the CEO can look great in front of the Board of Directors.