Bank of America Trying to Gain Business with Increased Fees??
While most people agree the new non-customer ATM fee hike by Bank of America and others is simply a rip-off, these banks actually think the strategy will encourage people to become customers of the bank.
The strategy is that consumers who have smaller banks with fewer branch locations will decide they should switch to a bank with several thousand branches, in order to avoid having to pay the fees when they need to use the ATM to withdraw money.
Personally, it makes me want to steer clear of these banks all together, and find another bank that isn’t pulling such a stunt with fee increases to try and force customers to get an account with them. I might just take the money out of my ATM before I leave town; or write more checks instead of withdrawing cash. Plenty of options to avoid that ATM fee. I see no reason to run inside the bank and open a new account!
Egeefay said,
October 23, 2007 @ 4:06 pm
I dropped out of Bank of America because I was unhappy with mistakes they were making on my account.
Instead I am banking with a small bank where the tellers know me.
I never get charged a fee. If one account is running low they will call me and tell me so I can run down and deposit more checks.
Best bank I’ve ever had.
Many banks love to charge “fees” or fines for falling below the minimum balance, overdrawing, etc. It’s a lot cheaper and easier to assess fines than to have to earn it by providing a service.
Best thing you can do is to interview banks and find out what their fees are and whether they are willing to wave fees if you have a certain amount of money deposited with them
phoenix 602 said,
October 23, 2007 @ 7:11 pm
You are exactly orrect to stay clear of bank of america! They will gank you in so many ways,checks clear largest to smallest.oh god dont get metsarted.Just look on you tube their is a terrible u2 fubar done by bank of america employees.Watch that video and tell me thats the people you want in charge of your money.