Bye Bye Bank of America – $5 Debit Card Fee

Bank of America announced $5 fee per month to use Debit Card starting 2012. ATM usage doesn’t count.

I’m not going to spend $60 per year to use debit card.

I have looked Wells Fargo (branch is nearby). But, looks like Wells Fargo is testing $3 fee in certain states.

Maybe in few months Wells Fargo might start charging $3 per month for debit cards.

I have 2 options

1. Move to different bank (credit unions, regional banks)
2. Stay with Bank of America and don’t use Debit Card (use Credit cards)

Anyway I have always hated bank of america. Now is the time, but the question is where?

Consumers Union offers advice here, including a link to a PDF guide on how to change banks smoothly in an era when many people rely on pre-authorized debits to pay key bills.