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Cash is another option. I may start building mattresses with a safe in em.
How about opening several accounts, get debit cards for them and never use them. That would make BOA go to the expense of the cards and if you don't use them, there are no fees to be assessed.
This is compliments of our dopey government. Ready, fire, aim. What a bunch of dopes, talk about unintended consequences.
"Starting Oct. 1, a regulation will cap the fees that banks can collect from merchants whenever customers swipe their debit cards. Those fees had generated $19 billion in revenue for banks in 2009, according to the Nilson Report, which tracks the payments industry.
There is no similar cap for the fees that banks can collect from merchants when customers use their credit cards, however. That means banks may increasingly encourage customers to reach for their credit cards, reversing a trend toward debit card usage in the past several years."
How about opening several accounts, get debit cards for them and never use them. That would make BOA go to the expense of the cards and if you don't use them, there are no fees to be assessed.
There are fees, they charge $12 per month for accounts with less than $1500 in them.
Bank of America to charge $5 debit card fee (http://hosted.ap.org/dynamic/stories/U/US_BANK_OF_AMERICA_DEBIT_FEE?SITE=NCAGW&SECTION=HO ME&TEMPLATE=DEFAULT - broken link)
The return of the check book is near.
Or maybe there's another option.
Like cash?
If you spend in cash you spend less money and are apt to make fewer impulse purchases. If my bank did this they could have my debit card back.
My bank doesn't, but maybe that's because I'm old. Does BOA charge that to seniors?
I don't know, according to the link:
WORLD Magazine | Today's News, Christian Views (http://hosted.ap.org/dynamic/stories/U/US_BANK_OF_AMERICA_DEBIT_FEE?SITE=NCAGW&SECTION=HO ME&TEMPLATE=DEFAULT - broken link)
"The fee will apply to basic accounts and will be in addition to any monthly fees customers are already being charged. For example, one of the bank's basic accounts already charges a $12 monthly fee unless customers meet certain conditions, such as maintaining a minimum average balance of $1,500."
Bank of America to charge $5 debit card fee (http://hosted.ap.org/dynamic/stories/U/US_BANK_OF_AMERICA_DEBIT_FEE?SITE=NCAGW&SECTION=HO ME&TEMPLATE=DEFAULT - broken link)
The return of the check book is near.
Or maybe there's another option.
So rather than use a direct debit payment for my mortgage, I can send BoA a check. They'll have to hire someone to open the envelope, another someone to process the check, an additional someone to collect the processed checks and raise rates to cover the expense to return checks to the banks on which they are drawn.
Twelve Senate Republicans crossed the isle to contribute to this consumer abuse...
Saxby Chambliss, R-Ga.
Johnny Isakson, R-Ga.
Richard Lugar, R-Ind.
Charles Grassley, R-Iowa
David Vitter, R-La.
Scott Brown, R-Mass.
Susan Collins, R-Maine
Olympia Snowe, R-Maine
Richard Burr, R-N.C.
Lindsay Graham, R-S.C.
John Barasso, R-Wyo.
Mike Enzi, R-Wyo.
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