Bank of America Starts Charging Fee for Low Checking Account Balances!
posted by Max Rosenhaus -
Tons of pissed off customers are ending their relationship with the bank for screwing over the less fortunate!
Bank of America will charge low-income customers $12 per month for their checking accounts unless they have a $1,500 account balance or monthly direct deposits of at least $250!
@BofA_Help hi..i have a checking account and I am not going to receive any automatic transfers for next few months..any way I can avoid maintainace fee without maintaining minimum balance?
— Darshan Shah (@DarshanCShah) January 18, 2018
If you have the Bofa Core Checking account the only two ways to avoid the fee is to have a direct deposit deposited of $250.00 or more per statement cycle or maintain a minimum balance of $1500.00. The fee can also be waived if you're a student under 24. ^ds
— Bank of America Help (@BofA_Help) January 18, 2018
Twitter user Ron West suggested everyone join a local credit union, with good reasoning behind it:
Everyone should join their local credit union.
— Ron West (@Ron_West_52) January 22, 2018
Here are some good reasons to join a credit union:
Credit unions are a massive passion of mine. It’s the “buildings and loan” from “it’s a wonderful life”, basically. Highly regulated “banking”, providing services to everyone, not for profit, and owned by all the customers. I’m really into it.
— Someone (probably a LEFTIST) 🐞 (@CelineDayJardnz) January 22, 2018
Also: many, if not most, credit unions also belong to a national co-op shared branch network... so you can use ATMs across the country w/o “foreign” network fees.
— SpinachInquisition (@NobodyExpects13) January 22, 2018
Credit union it is. Closing BOA accounts tomorrow.
— Wes (@WesAtt) January 22, 2018
Hello Wes. We’d like to keep you as a customer. Please let me know how I can help.^rr
— Bank of America Help (@BofA_Help) January 22, 2018
Don’t be assholes to poor people.
— Wes (@WesAtt) January 23, 2018
MOOD! pic.twitter.com/eQlXIjJgQh
— Max Roseños (@_MadMAX) January 24, 2018
Photo: Getty Images
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