How can consumers fight back against unreasonable bank fees?
Change Banks. The month before the announcement about the debit card charges, we received a notice that we would start being charged $14 per month for our checking and savings due to the fact that we did not have $5000 in each account. I immediately took all of our money out of savings and moved it over to another savings account, closing the one at BofA that we have had for the past 29 years. We then moved all of our direct deposits away from BofA and changed them to another bank. We are now waiting to verify that all of our automatic deductions have been transferred from BofA to the other bank. As soon as we have confirmation, I am going to zero out the account and close it ASAP. The news about the debit card monthly charge was just the icing on the cake. I hope many other customers follow suit. I hope their stock price plunges and I hope that any other banks watching will heed the warning. Don’t mess with the consumer in a market where other options are available. There will always
