Bank of America announces $5 monthly debit card fee to start in 2012

Bank of America has reportedly decided to charge its customers a $5 monthly fee for debit card transactions starting in 2012. Other big banks, including Wells Fargo and J.P. Morgan Chase are also testing debit card fees in certain markets. But plenty of banks are still offering debt card services without a fee. Consumers Union is offering tips to consumers on how they can avoid new fees and what to do if they decide to move their money to another bank.

Advertisements