Last year, Bank of America tried to sneakily, oh so sneakily, instate a $5 fee on debit card users. Outrage ensued, and the idea was scrapped. But you didn't think that BoA's insatiable need for sweet, sweet money was just going to disappear, did you? There are plenty of new, sneakier fees they will hit you with.
Now that an appropriate period of time has passed so that the easily distracted American public can forget their earlier moment of populist outrage and turn their attention back to sporting events and celebrity foibles, Bank of America is ready to roll out its new, somewhat less noticeable (but equally costly) fees. The WSJ reports on BoA's new crop of fees, coming soon:
Bank of America pilot programs in Arizona, Georgia and Massachusetts now are experimenting with charging $6 to $9 a month for an "Essentials" [checking] account. Other account options being tested in those states carry monthly charges of $9, $12, $15 and $25 but give customers opportunities to avoid the payments by maintaining minimum balances, using a credit card or taking a mortgage with Bank of America, according to a memo distributed to employees.
Of course. Free checking is dead. It's not as if banks take your money and loan it to others and charge interest and thereby make money, on your money, which would render it ridiculous to then turn around and charge you for access to your own money. OH, YES IT IS. GAHHHHHHH, BANKING.
Which of these fun new fees will be applied to your account next? You'll find out soon enough.
[WSJ. Photo: AP]