Good Deal? Think twice

Good Deal? Think twice

Bank of America is about to start charge for each time you have to use your debit card. However, The debit card fee isn't the only unwelcome change for checking account customers are seeing later. The banking industry already has been raising fees and change programs and regulations that will limit costumer’s rewards. Now, costumer’s have to deal if one more way to take costumer’s money. The bank try to not alarm the consumers by the idea that customers will only be charged the fee if they use their debit cards for purchases in any given month and that customers won't be charged if they only use their cards at an ATM. Well, reading the article really alarm me as a costumer at bank of America. I might use all cash unsteady of been charge fee to use my own money. I believe the growing prevalence of the debit card fee is alarming not only me, but millions of costumer’s of Bank of America. Another banks already either rolled out or are testing such fees. It’s clear with the economic unstable, most of the consumers use debits cards more frequently than credit cards because they want to avoid interest rates fee or any extra cost charges. Bank of America’s announcement makes people rethink about relying entirely on debit cards to avoid interest charges on a credit card. If Bank of America and others big banks industry starting charge the debit card fee they not only will continuing generate billions of dollars using costumer’s money by transactions like deposits, overdraft, transfer fees, money orders and forsake fees, etc. A numbers of banks will take more money from people each time costumers swipe their debit cards. It’s clear if a debit card fee became so prevalent and unavoidable a lot consumers should star thinking about alternatives to not using debit card and avoid the multi billion of dollars industry of banks.

http://www.myfoxaustin.com/dpps/news/national/bank-of-america-to-charge-5-month-for-debit-cards-25-apx-20110929_15255735