Does Your Bank Charge a Fee for Using Debit Cards?

How to Find a New Bank

Change isn’t my forte. I’ve lived in the same apartment for over seven-years. I have two Bank of America ATMs on my one-mile walk to work and another right next door to the PO Box I use for this newsletter. I’ve gone to the same location for banking for over ten-years, even when the bank changed names.

After much media coverage about a $5 monthly fee for using a debit card I decided to figure out how much Bank of America was charging me. I originally wanted to stay with the bank. So, I visited the new link for Bank of America factsabout to figure out why I’m being charged. I admit that reading their explanations confused me even more. My questions about my banking service fees aren’t even discussed at the new part of their web site.

But, one thing I did know that if I kept banking at Bank of America the monthly service fees would have cost me at least $276 per year.

There is a petition against Bank of America’s new $5 monthly fee to use debit cards at:
But, I don’t see how signing a petition really benefits me. Signing a petition doesn’t reduce my bank fees immediately, only changing banks can eliminate the bank’s service charges.

To make the change, I first visited But, some of the local banks within easy walking and driving distance for me aren’t listed on So, I just visited the web sites of my local banks. I found one with ATMs and branches within a mile of my home without any service fees for regular banking services like checking accounts, savings accounts, and more.

Although change can be scary, we have the right to do with our hard earned money as we choose. I finally choose to use a bank that serves me, instead of the other way around.

If your bank charges monthly fees (and you may not even understand their explanation’s as to why you are being charged), feel free to shop around. Within a few hours you can take control of your earnings and feel comfortable how to secure your heard earned salary without service fees to cover the business mistakes the bank has made in the past.

At least my $276 will earn interest for me now, instead of paying Bank of America executives.

Does your bank charge fees for using a debit card?


  1. I did switch from Bank of America!!! Nannies like me don't have $20,000 in the bank to waive the debit card fee at Bank of America. My parents helped me to find a new bank. I switched to a small local branch that is great. They don't have ATMs but they allow me 10 debit card uses at other branche's ATMs per month. I don't really use it even that much. Bank of America is so big they really don't care about small hard working nannies or housekeepers. They really don't need our accounts. So, withdraw every penny and put it into a bank that cares more about YOU and your business. I now have my money in an interest savings and the bank is making me money, not taking it away!

  2. My favorite headline was that the banks are "banking on us being too busy to switch banks." I think that's true. It's a pain in the butt to change banks but you can make money in an interest account if you switch to a smaller bank that wants your business. Biggest banks clearly don't want our business (little people) or they wouldn't charge us for fees.

  3. The quote you refer to Reyna is "The banks are banking on the fact that most customers are too lazy to switch banks." Don't debit cards help banks since they don't need as many workers behind a desk? Debit cards reduce labor costs?! Banks won't go broke if they can't charge for debit purchases. So do we really think the bank will use our debit card money to pay for their bad investments and bad business do you?

  4. I won’t be paying $5 a month to use my card, but I won’t be leaving Bank of America. The $5 is only IF you do a DEBIT (with your PIN number) transaction and it’s a flat fee for any month in which you DO USE the DEBIT feature. Credit transactions (same card) incur no fee. Some bank cards don’t even offer a DEBIT feature (credit only) on their check cards and some others don’t offer credit feature (debit only). I have the option to use my card in either manner if I like. Am I happy about the fee? No, but it’s not going to be a drastic change. This is NOT a $5 monthly fee for HAVING A DEBIT card, this is a $5 fee in the months when you RUN YOUR BofA CARD as DEBIT.

  5. Sean, I was told differently. Perhaps there are regional differences and I might not understand all of the bank's policies yet either. I never make a purchase using my debit card and the pin number. For years I have only made purchases using my debit card as a credit card. I was charged $1.50 last Friday for buying a sandwich with my Bank of America debit card as a credit card (I did not use my pin number). I went to Bank of America on Saturday and was told my the manager of the branch that any account holder with less than $20,000 will be charged a $5 monthly fee for HAVING the debit card (not for using it). When I asked about the $1.50 charge he said that's because I don't have $20,000 at the bank.The lesson is simply to shop around for your own personal banking needs. If policies and service fees change, you have a right to make changes and bank elsewhere if you choose to.

  6. I hope your readers listen to this advice! These large banks made bad deals! They had bad business practices! They gave out loans that defaulted! They got bailed out by the US government. Now by charging us fees we should reward them for their bad business practices???? Don't you get it, even if you accept $60 per year that's $60 out of your hard earned cash you are paying to the bank, when that $60 could be making you money in an interest account!!!! The point is that nannies aren't exactly the type to have all this money in a big bank that charges fees. Big banks don't care if we leave them because we don't have a lot of money. So I appreciate the advice to find a smaller bank. But if nannies are too lazy to manage their money and accept the fees, well that's what rewards crooked, bad business banks that buy bad mortgages.Make your money work for you and move it from these awful banks charging you fees and make it earn money in another bank! Really we are the fools if we keep these accounts. I feel like they are laughing at us because they don't even want our small earners money. And then we pay them. ha ha ha shame on us!

  7. They need to write to us like people not lawyers or bankers. When I get legal slips in with my statements about changes and fees it's not written for the average person to understand. Everyone has a bank account. Everyone of any class and education so they need to give us the legal document along with one written in normal language a normal person that's not a lawyer or banker can understand if they want to keep our business too.

  8. Absolutely I am changing banks soon, don't you worry.

  9. I am closing my BOA account this morning!

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