NEW YORK (Nov. 01) – At last Bank of America shows its intentions to drop the debit card fee of $5, proposed to be started from next year.
|Bank of America Cancels Plans to Charge $5 Debit Card Fee|
Bank of America with its final decision to drop the fee will follow other main banks, including Chase and Wells Fargo, which declared last week that they were withdrawing tests of similar charges.
This U-turn by the banking industry comes in the middle of rising public fury over higher fees and charges. A movement to get customers to switch to credit unions and community banks had marked this Saturday as "Bank Transfer Day."