Bank Of American Raises ATM Surcharge To $3

USA Today:

In a move that's expected to prompt higher fees industrywide, Bank of America has raised, to $3, the amount it charges non-customers to withdraw cash from most of its ATMs.

The fee, up from $2 per withdrawal, was quietly rolled out across the country in July and August. It's the highest such fee ever imposed nationwide by a major bank. Because Bank of America (BAC) has the largest ATM network in the USA, the higher fees could hit millions of consumers.

Read the whole story: USA Today

Comments

[robinhood1]

07:19 PM on 09/13/2007

If you don't have an account at B of A, don't use their ATMs. It is that simple. Don't complain about how much money they are making. Just use you own bank's ATM machines. As far as I know, no bank charges its own customers to use its ATM machines.

[tobecrue]

12:11 AM on 09/14/2007

yep, however that is a easy solution. What would most people on this board do if they couldn't complain endlessly about evil money makers?

[TheWesternBreed]

05:45 PM on 09/13/2007

Vote for a Democratic president, House and Senate--without which the credit-card industry will continue to profiteer at will. What other lender can unilaterally change a contract with a borrower whenever it feels like it?

[hjo4]

05:11 PM on 09/13/2007

Do what the banks don't want you to do,go inside and use a bank teller.The argument for the ATM's were they'd save banks money from not hiring bank tellers and it would give customers access to their money at their disposable.Nowadays,banks are the only winners here.Charging $3.00 for access to your own money.What greedy pigs.

[NABNYC]

02:37 PM on 09/13/2007

There is a monopoly among just a few financial institutions in the U.S., and they are making enormous amounts of money because of that monopoly. We do not make things anymore in this country. We just work and give an enormous percentage of our money to the "bankers."

"Fees" are the real money-makers. Most credit cards are designed to be "due" right before payday - say due on the 27th of the month. They know people get paid then write out their bills, the check will be received 6 days after the "due" date, so they can tack on a $50 late fee. On the other side of the coin, if you send your check out on the 22nd and it's received on the 23rd, they will not credit it to your account (to reduce principal on which interest is calculated) for 5 days. Got ya coming and going.

I think the next move, after firing all the tellers and moving everyone to ATM, will be to charge everyone for using an ATM even at their own bank, and to charge people for having an account. In other words, you will pay them an account maintenance fee for allowing you to deposit your money there. Think I'm kidding? Just watch.

Of course if the Democrats controlled Congress they could pass new laws imposing usury laws on the banks, prohibiting these crazy fees. Oh that's right, the Democrats do control Congress. I forgot. And they get lots of money every year from their friends in the financial world. Oh well. Never mind.

[realitytrumpsbull]

01:15 PM on 09/13/2007

No, no, not Bank Of Ameriscam, the funny-money financial institution! Ah hell, make it FIFTEEN bucks! It's still not enough! LOL

[TimtheDemocrat]

11:35 AM on 09/13/2007

Its BANK OF AMERICA! not "Bank of American"

I love my bank, Bank of America, its NATIONWIDE!

I love my bank, Bank of America, they have LOTS OF ATMS EVERYWHERE!

Screw you, other people's banks, I don't want you crowding my Bank of America ATM, go away!

Open a Bank of America checking, tell them I sent you and I get 75 bucks!

You want a check in GB Pounds? No problem?

[nomoredead]

09:47 AM on 09/13/2007

Bank of America NET profits up 41% for the QUARTER to $5.42 BILLION compared to $3.85 BILLION a year earlier. Jesus Christ, I'm all for companies making money, but when is it enough. Who was sitting in an office thinking .......we need to raise ATM fees and make more money !!!!!!!!

[mrcontinental]

09:16 AM on 09/13/2007

I dumped B of A log ago. They are a miserable excuse for a bank.

USAA is the way to go.

[huntergatherer]

07:16 AM on 09/13/2007

"Banks often move like a school of fish on punitive charges such as ATM surcharges and credit card late fees, so it's just a matter of time before others follow suit," says Greg McBride, a senior analyst at Bankrate.com (RATE).

Perfect analogy-like a school of f#*king Pirhanas.

[progressivegreg]

02:16 PM on 09/13/2007

Are sharks a fish?

[godlessclif]

06:27 AM on 09/13/2007

Screw non customers. I don't think they should let non customers into the bank. Let them go to the payday loan/check cashing store. Let them cash their check at the liquor store.

[researcher]

03:49 AM on 09/13/2007

bigger is better they say.

want unchecked capitalism middle class pay for it.

middle class line up next nov 08 to vote in the repubs so they can eliminate you. dumb dumb and dumber.

keep believing in that trickle down theory while the ceo's cash in big time. suckers; look for that commie under you bed tonight if someone mentions socialism or national health care.

concerning national health care keep voting against it while the doctors smile all the way to the bank.

brainwashing works the middle class in america is living proof of that.

[Libsrule]

01:51 AM on 09/13/2007

Nothing more than motherfucking greedy assholes and I hope they all come to an untimely end.

A nasty one.

[mediamarv]

01:20 AM on 09/13/2007

Under powers that bush says he has, a new president could declare these fees illegal, for many reasons, one that they hurt the economy during war, and the banks would have to rescind them.
That is what has happened to the power of the presdency under this imbecile and the great unwashed population and a gutless congress just go about life as if nothing has changed.
A Democratic pres holds more promise to us, so remember that as a reason to vote, not what corporate media tells you.

[QuietAmerican]

12:21 AM on 09/13/2007

Every time you turn around, a corporation's got their hand out for another pound of flesh. This is ridiculous!

[Gary47]

12:06 AM on 09/13/2007

Any one got suggestions on a better bank? B of A used to be great for the small customer, but has steadily gotten worse over the years.

[thegreatgiginthesky]

06:45 AM on 09/13/2007

Try Wachovia, I recently moved from them to Citi because I needed to access my money when I'm in Europe but Wachovia has amazing customer service and great for the small customer. They really take care of you.

[shaggles]

11:16 AM on 09/13/2007

Washington Mutual focuses more on small customers than any other major bank.