Bank Of America Doing Away With Free Checking Accounts
PASADENA, CA - JULY 28: A man uses an ATM at a Bank of America branch on July 28, 2009 in Pasadena, California. A bank spokesperson announced plans to close about 10 percent of its branchesf which will reduce its US network of 6,109-branches over the next three to five years, eliminating thousands of bank jobs, as customers do more online and telephone banking. The move reverses years of expansion by the nation?s largest bank which faces growing losses from credit card and mortgage loans. (Photo by David McNew/Getty Images)
A sign of things to come? One of the most popular banks in Florida is pulling the plug on free checking accounts. Channel 8 reports that Bank of America will move e-banking customers over to the standard checking account. That means there’ll be a $12 monthly charge. You can avoid the charge if you have a direct deposit of $250 or more set up or if you keep a balance of $1500.
All part of the tax cuts. Expect it on every major bank in the next 6 months. I’m gonnanstick to my gramps rule and keep my money in a shoebox under my bed.
— MarkTheShark (@MarkShark420) January 24, 2018
Source: Channel 8
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