Bank of America joins parade of banks dropping debit fees

November 1, 2011

Banking & Finance

Hoping to head off a customer uprising, Bank of America became the latest U.S. banking giant to drop plans for charging customers monthly fees for debit card use.

The Charlotte financial services company had planned to initiate a $5 fee at some point in 2012. But after Wells Fargo, Chase, SunTrust and Regions eliminated fees in the past few days they had recently initiated, Bank of America decided to join the crowd.

“We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” said David Darnell, co-chief operating officer. “Our customers’ voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.”

Bank of America is one of the world’s largest financial institutions, with 58 million customers, including 17,500 ATM users. The bank’s plan was to charge the monthly fee for using the card to make purchases. No charges were contemplated for ATM use.

Bank of America has 5,700 retail locations, none of which are in Mississippi.

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One Response to “Bank of America joins parade of banks dropping debit fees”

  1. Doug Badgett Says:

    As far as I know no one has painted any of the proof silver eagles only the uncirculated type. Once the coin was painted it lost all of it’s collector value for now it is considered damaged. I doubt very much it is a proof. A 1999 proof unpainted silver eagle in it’s original mint box with papers sells for around $49, the uncirculated version one sells for $23.80. Your coin is worth the silver in it which changes day to day with the spot price of silver. A coin dealer can give you the price at the time of sale. It would be better to just hold onto it and pass it on through the family for collectors will only pay silver value for it is considered damaged as I have said.

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