Bank of America Announces They Will Reverse Debit Card Fee

Bank of America customers have been arguing against the proposed $5 debit card fee for that last month. More than 300,000 people signed an online petition while another 21,000 promised to close their Bank of America bank accounts if this fee was added.

Bank of America announced yesterday, Tuesday, November 1, that they will be canceling this fee. Thus proving that the consumers have power! Other banks around the country have abandoned the fee as well. Wells Fargo, Chase, Regions and SunTrust are among those who have announced this so far.

There has been talk of local and regional banks beginning to add fees for debit card use, but nothing has been set in stone. Maybe this reversal for national banks will help aid in their decision.

For the entire article from the Washington Post about the changes from Bank of America, click here.

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