Bank Fees to the Moon!

Can the stock hit $20

Bank of America to raise fees!! Since I own the stock; I think it’s a terrific idea 😉 Who can remember that less than five months ago they backtracked on its $5 monthly debit card fee….they were just seeing if you were paying attention! Right now the test markets are Arizona, Georgia and Massachusetts. You can bet that these fees will stick and it may be a flat fee, across the board or a conditional fee.

I personally feel that other banks will follow suit which makes me wonder about credit unions-will they start an aggressive ad campaign to lure disgruntled bank customers? Seems to me that this is the perfect time.

I’ve always had good luck and service from credit unions-What have been your experiences? Will banks raising fees encourage you to look at credit unions?

The Wall Street Journal has all the dirty here.


2 Responses to “Bank Fees to the Moon!”

  1. funancials says:

    I love this move by bank of america. I think it’s definitely a step in the right direction.
    I’m not going to move to a credit union because I SHOULD always meet the requirements to offset any kind of fee.
    I’m assuming most people will moan about the charge but ultimately do nothing. People are lazy which usually results in inaction.

  2. Steve says:

    Bof A is a business and since I’m a shareholder, I can live with it!

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