Starting in 2012 if you use a Bank of America debit card you’ll pay a $5 a month fee for using the card. It doesn’t matter if you use the debit or credit option or if you use the card once or twenty times a month you’ll pay the same $5 fee. Ironically, people with premium accounts do not have to pay the fee, so the people who can easily afford $5 a month don’t have to pay it.
When I first read this news I was irritated about the fee, but then I realized that no one has to use Bank of America. Many credit unions and smaller banks don’t charge any fees and have the same benefits (if not more) than the larger banks.
I’m not a Bank of America customer, but if I was I wouldn’t be in 2012. What about you?