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Bank of America Cancels $5 Fee

Discussion in 'BlackHat Lounge' started by toyo, Nov 1, 2011.

  1. toyo

    toyo BANNED BANNED

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    There was a thread about a month back with lots of anger on BoA coz they are introducing a $5 fee. They have heard the crowd, any now they are backing out.


    http://news.yahoo.com/bank-america-cancels-5-fee-155910068.html
     
  2. Kickflip

    Kickflip BANNED BANNED

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    But what customers do not realize is that this fee is built into the products they buy now.

    Code:
    http://www.consumeraffairs.com/news04/2011/10/redbox-raising-prices-blames-debit-card-fees.html
    So one way or another, someone is going to pay for it, and its not the banks. It all depends on your usage of your debit card.
     
  3. toyo

    toyo BANNED BANNED

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    you were fine with the $5 fee in the previous thread.troll.
     
  4. Kickflip

    Kickflip BANNED BANNED

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    What have I said that changes my thoughts? I am fine with the price increases too. Do you have reading comprehension issues?

    I am fine with the $5.00 fee.
    I am fine with price increases.
    I am laughing at the bank customers who see this is as a moral victory and don't seem to realize they just pay for it in a more indirect manner.
     
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  5. skylizard

    skylizard Newbie

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    Im sure they'll work in that fee elsewhere. They're not going to just give up that easily.
     
  6. marusia

    marusia Senior Member

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    The fee was coming because Visa and Mastercard are raising their merchant fees. They wanted the costs associated to "trickle down" to the customer. Many banks are now doing it, and I'm sure it will hit us eventually.

    One way they started making more was charging $5 when you lose your debit card. I lose mine about once every 2 months. D'oh!
     
  7. paulka007

    paulka007 Newbie

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    I'm surprised they caved! Most likely they'll add the fee to a annual tarrif increase for transactions or to merchants. Or they're going bankrupt....
     
  8. zmoney

    zmoney Senior Member

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    The Democrats did have an idea going of how to stop these ATM fees from being jacked up. What they didn't really see is that these banks would find a way around it such as this $5.00 fee. Perhaps the Bill will be honored without getting around the loophole by some banks as a marketing plan idk..

    The intent was there, but there's always ways around it. Sure the ATM fees won't go up, but everything else will.

    Black hat banks lol :bandit: