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Bank of America Scraps Plans to Charge for Debit Card Use

Tuesday, November 01, 2011

Bank of America has scrapped plans to levy a $5 a month fee on debit card users, following public outcry.

In a statement, the company said it had listened to customer concerns.

"Our customers' voices are the most important to us," read a statement from David Darnell, the bank's co-chief operating officer. "As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so."

JP Morgan Chase and Wells Fargo had begun trying out the fees in certain areas of the country, but last week said they would end that testing.

With the Associated Press

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