Business & Tech
Bank of America Drops Plans for Debit Card Fee
After customer blowback, Bank of America to drop $5 debit card fee.
Back in September announced it was going to charge customers a fee to use a debit card. That plan is no more.
The proposed $5 fee for transactions has been pulled by the banking company. Bank of America said in a press release that it decided to not go through with the fee after getting feedback from customers.
There are three Bank of America location in the city of St. Peters, and many more in nearby communities.
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When the fee was first discussed, we asking for reader feedback. Here are the results:
Will fees on debit cards influence your banking?
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- Yes: I don't want to pay a monthly fee to use my debit card. 18 vote (38%)
- No: I will continue to use my debit card to shop. 3 vote (6%)
- Yes: I will look for a bank that doesn't charge a debit fee. 26 vote (55%)
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