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Posted at 02:58 PM ET, 10/03/2011

Bank of America shares falls below $6, first time since ‘09


Bank of America plans to start charging customers a $5 monthly debit card fee. (Chuck Burton - AP)
Bank of America shares fell below $6 for the first time since March 2009 Monday, going as low as $5.60 by Monday afternoon.

The dip in stock price comes as the bank faces customer gripes about the its decision to begin charging a $5 monthly fee for debit card transactions. The fees will begin next year and will apply only to debit card purchases, not to ATM withdrawals, online bill pay or mobile phone transfers, The Post’s Ylan Mui reported Thursday.

The bank’s Web site has also seen outages, with limited access to online services and mobile applications on Friday, Saturday and again on Monday. Some customers trying to sign in to online banking are able to access their accounts, but hit several error messages along the way.

Tara Burke, a spokeswoman for Bank of America said that most customers are able to bank and that the Web site problems are not the result of hacking, malware, or a denial of service attack.

The financial sector was particularly hard hit as U.S. stocks continued to fall Monday, in part due to Greek debt concerns, Bloomberg reported.

By  |  02:58 PM ET, 10/03/2011

 
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