Reaction to BofA's proposed new debit card fee

AP News
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Posted: Sep 30, 2011 6:21 PM
Reaction to BofA's proposed new debit card fee

Bank of America announced plans to impose a new $5 a month fee for debit card purchases starting next year. A sampling of reactions from consumers about how they would handle such a fee.

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"I would prefer to give my money to a local bank if that's how Bank of America is going to treat its customers." _ Todd Schirmer, 33, psychologist, Mill Valley, Calif.

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"I would not change my behavior, I would change my bank. When this fee comes into effect, I am pulling my money from Bank of America and moving somewhere else. _ Jose Bucheli, 22, graduate student, Albuquerque, N.M.

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"Getting charged to use my debit card for purchases would certainly force me to carry more cash or rely heavily on my credit card. Paying $60 a year in debit card fees just seems absurd and I'd rather avoid it." _ Angela Malerba, 25, public relations account manager, Boston.

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"I am done with commercial banks. ... It seems like every industry is nickel-and-diming their customers, and consumers are getting mad at that," he said. _ Darryl Foster, 30, software engineer, Alexandria, Va.

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"I'm beginning to think the legislation that changed the fees banks collect from the retailers will simply make the banks take it from their customers. ... "I'll go back to checks and cash before I pay to use the convenience of plastic. _ Dennis Couturier, 35, technology company worker, Charlottesville, Va.

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"It won't drive me to cash or credit, but it did prompt me to change my accounts to a credit union." _ Mark Olwick, 51, website manager, Seattle

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"If my bank imposed fees, I'd look around for another one. I don't know why anybody would want to spend money to spend money." _ Cameron Smith, 19, public accounting major at Marietta (Ohio) College

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"I hate it. It's wrong. (But) I will probably grudgingly pay the $5 a month for the convenience." _ Meredith Gould, 60, health care social media strategist, Baltimore