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WSJ on why I (as a BofA customer) and many other Americans are losing their free-checking.
Bank of America Corp. and other banks are preparing new fees on basic banking services as they try to replace revenue lost to regulatory rules, in a push that is expected to spell an end to free checking accounts for many Americans.
4 comments
1 |
Curt Fri, Jun 18, 2010 3:32:39pm |
No...we won't see higher taxes...it'll just disappear as "fees." Thanks Mr. President and Congress for watching out for the economic health of the average consumer...
| 2 |
Gus Fri, Jun 18, 2010 4:05:25pm |
Fight back. Take your checking accounts elsewhere where they will provide free checking.
The End of Free Checking? Not at Credit Unions!
By Gregory Hurley
The Wall Street Journal is reporting that Bank of America and other banks are getting ready to raise fees on some basic services as well as charge for checking accounts. This is not a surprise to credit union members, however if you are still a bank customer, the time to switch to a credit union could not be better. Credit unions are still a great place to get free checking, friendly service, and better rates on savings and loans.
SNIP
The good news is consumers do have choice when deciding on a financial institution. Find a local credit union with free checking and make the switch today before your big bank starts charging you more for basic services, like your checking account. Since the big banks only see people as sources of profit, dump your bank and join a credit union where you become not just a member, but also one of the owners.
These banks didn't deserve the billions they ripped off from their customers with overdraft charges and they don't deserve your money for a checking account. Especially Bank of America.
| 3 |
Curt Fri, Jun 18, 2010 4:15:18pm |
Ok...so...good idea...let's quit using banks...unintended consequences...or, just like taxes...charge it and they stop. Don't and they do it more.
| 4 |
Gus Fri, Jun 18, 2010 4:18:14pm |
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