Many area customers said they’ll be shopping for a new bank after the company announced it will soon charge users $5 a month to shop with their debit cards.
The fee will affect basic checking accounts, and the monthly charge will only apply to purchases made with debit cards. ATM withdrawals, online bill pay and transfers made using cell phones are exempt.
News of the fee, which is a first for a major bank, spurred many area customers to call for a boycott.
I need to find a new bank. #BankofAmerica is ridiculous. Any suggestions for a bank that will not charge me to spend my own money?
What a horrible decision by Bank of America. Everyone I know who has BofA account has said they are leaving. Small bank boom coming...
The Post’s Ylan Q. Mui has the full story. And if you’re looking to compare your options, here’s a place to start.
Banks in the Washington region
Among some of the major players:
Tips for switching banks
• Open your new account with a small deposit to avoid extra fees.
• Leave a small amount in your old account for at least a month to cover any charges you may have forgotten are coming.
• Get written confirmation that your old account has been closed.
Share your thoughts
• If you’re a Bank of America customer, are you planning to switch?
• If you use another bank, which is it and what you do think of it?
Let us know in the comments.