Bank Of America Debit Card Fees: Twitter Reacts

Bank of America announced Thursday that the bank will start charging $5 per month for customers who use their debit cards to make purchases beginning in 2012.

Shortly after the announcement Twitter exploded with reactions to the news. Many of the updates were negative and some even threatened via tweet to switch banks. The announcement generated so much buzz that "Debit card fees" was a trending topic on Google on Friday.

To add fuel to the fire, Bank of America's website was temporarily down on Friday. Some customers in New York and California reported login problems and others saw a message that read the site was "operating slower than usual," according to the Associated Press.

Tara Burke, a spokeswoman for the bank, did not specify why the site was experiencing problems, only to say that it wasn't due to hacking, the AP reported.

According to the AP, Bank of America is the largest bank in the nation by deposits.

LOOK: Twitter reacts to Bank of America's Debit Card Fee Announcement:

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Comments

[Garrett Hood]

03:39 PM on 10/12/2011

She looked at me as if I were a walk-in vagrant and rather loudly (enough for all to hear) responded, Sir, people such as yourself can go through the drive through teller to ask your questions for no additional charge." OMG! It was then I realized that BANKING WAS AND WILL NO LONGER BE A PLEASURE ANYWHERE. So thanks to a LONG CORRUPT AND NEUTERED Congress we have to PAY BANKS TO USE WHAT IS OURS.

[Lawrence Grant]

04:57 PM on 10/12/2011

Garrett, Join a credit union. I understand your frustration with you having to pay to use what you have already earned. I had enough in '04 and joined a credit union. It is the one of the best financial decisions I have made. Don't keep contributing to these people that treat you like your a "vagrant", instead of a customer, move your money. You will be happier when you do.

[Garrett Hood]

06:21 PM on 10/12/2011

Re: Lawrence Grant you sir are absolutely correct. Thank you for the suggestion as I now believe it is the most reliable and customer friendly way to protect my money.

[Garrett Hood]

03:39 PM on 10/12/2011

Banks use [our] money to pool into the stock market allowing for returns on huge investments rather than many small investments. The Banks use our money to make money. The original idea was a "symbiosis" between bank and customer benefitting the depositor with interest for the favor of using a particular banks's services. Now there are a so many fees the banks charge it's become a LEGALIZED SCAM. We the customers have to pay outrageous fees in order for the bank to DO US THE "FAVOR" BY HOLDING OUR MONEY TO MAKE THEM MONEY. WTH? The money IS OURS and the fact that we have to pay an OFTEN MEASURABLE percentage in fees to access our own cash is DISPICABLE! I ended my relationship with B.O.A. over ten years ago when I entered the bank to speak to a customer service rep. A simple three second question is what I had to ask. After waiting in the line she (the friendly customer service rep) told me that there was a $3.00 PLUS FEE TO SPEAK TO A CUSTOMER SERVICE IN BANK. FOR GAWD SAKE, I BARKED and asked her if she were joking. TO BE CONTINUED...

[booker52]

09:56 AM on 10/09/2011

I bank at a credit union, have done so for over 30 years. I say to anyone who banks with BofA or any other bank that wants to charge you to use your money, move to a credit union. They are member owned and work for you.

[Meldy1]

05:50 AM on 10/09/2011

Bank of America should lower the charges on the credit card fees..they sounds too ungrateful to me...after bailing out taking more is their policy.

[gts31bumbee]

04:43 PM on 10/19/2011

Remember this next time the airlines come - a - begging....

[Mattcat25]

09:37 AM on 10/06/2011

TAX Bank America.

[Joe Padilla]

01:42 AM on 10/06/2011

Why in the hell would our government let an anti competitive, anti capitalist monster like B of A get formed in the first place. I think something like 600 banks have been swallowed up to form it. That's not promoting a competition. That's the opposite of capitalism, because acquiring your competitors results in less competition.

Furthermore, anyone who gets tangled up with a bank this size better hope they NEVER have a problem, because if they do it will NEVER get fixed. This is 1-800 hell and if you get sideways you will have a headache on your hands for a decade or more that may ruin your credit or your ability to be in the banking system for a long time.

Lastly, Why? What is the point of a bank this big? From what I have seen they set up shop in a town by buying up good local banks, change the signs, and start playing games that always result in lots of fees and lots of headaches. I could live with that until the financial crisis came. Now I see what they are really about. They take the deposits and send them to New York. Meanwhile nobody in the town can get loans, business gets really lean, people get laid off, and it goes into the spiral of less. It became clear that they are there to suck out the wealth and send it to New York.

Eff that. It's time to change this ASAP.

[gts31bumbee]

04:50 PM on 10/19/2011

This is the result of deregulation over the years. It is the #1 reason and trick from the repugnicant playbook ! Remember deregulation and privatization only subvert the protections of the average working class person. Look up indentured servitude and you will understand better. Then you can go down to the company store for your vittles...

[tazz2007man]

05:26 PM on 10/05/2011

switching to LCU by-by BoA

[DejaVu 2Dawn]

05:14 PM on 10/05/2011

after reviving through an identity theft/ in which was discovered in brilliant time. ive only used the banking system to hold my cash. use the drive through or go inside to withdraw what is needed. ive stepped away from plastic and never conduct payments on the Internet. because once you've registered your accounts online the said collector WILL take whats theirs without notice ..! in simplifying im aware of my financial status. now this is my opinion of light personal finances,

[happy ending]

02:20 PM on 10/05/2011

try having a mortgage ith Bank of F@&$%#G America... not by choice... they are the worst and there is no way i can transfer my mortgage to another bank because the market dropped and owe more then what it's worth... ready to walk away a ruin my credit just to prove a point... hate them with a passion and will be the first to throw a party when the colapse.

[FarookEnterpris]

10:43 AM on 10/05/2011

I too have found it strange and suspicious that you cannot get on to the site, I anticipate the day my husband and I leave Bofa. Of course there is more to the story than they are telling the public.

[rahgolf]

10:29 AM on 10/05/2011

CREIT UNIONS, CREDIT UNIONS how many times must you hear it!

[SevenUPtheUNCOOLA]

10:49 AM on 10/05/2011

credit unions are great. wish i had been a member before moving to a town where there are none at all. in order to qualify for membership, there are criteria that have to be met such as local employment or residency. the best thing credit unions could do in response to the negativity about big box banks, is expand their criteria for membership.

[Father Geoffrey Farrow]

02:52 AM on 10/05/2011

Brilliant! Like Louis XVI raising taxes in 1788.

[Carlos Beltran]

06:57 PM on 10/04/2011

Shame on Bank of America.

[ProRanger7777]

06:12 PM on 10/04/2011

PS: Its called the DURBIN amendment to the Frank/Dodd Bill. In case anyone wants to read it. It is NOT the Banks fault. Its the Democrats, pure and simple. And you can take that to the Bank!

[Terminal1]

08:59 PM on 10/04/2011

Are you suggesting that the Dems forced the bank to implement these fees or was it corporate leadership that did?

[ProRanger7777]

05:31 AM on 10/05/2011

The Dems under the Durbib Bill enacted the debit card TAX. The corp just passed it on, as does any tax increase. The rest is your decision.

[gts31bumbee]

04:57 PM on 10/19/2011

Wrong, wrong... This all came down through deregulation ! Play #1 from the repugnicant play book-- Deregulation; it opens the door for the fox to enter the hen house..... They will pick you clean... Just go back and cite me one, just one example where deregulation benefited the average working man. Never happened !

[ProRanger7777]

06:56 PM on 10/19/2011

Better check your facts, and Calm down man before you have a stroke. Deregulation in some areas is good. In the 1990's, this countrys economy grew at average of 4.7% compared to Europe,which is Heavily regulated,grew at only 1.8%. Cable TV. In many areas,because of regulation, people are limited to ONE choice only. Look at any of your regulated utility bills,and look at the fees you are paying just in add on fees for reg committees. Telecommunications: Before Deregulation, there was Pac Bell and Bell Atlantic,and derivitive off shoots of these called Baby bells. Then they were deregulated,and now we have 100's of companies offering cell and land based lines. So no matter how much you yell, or jump up and down,deregulation in some areas HAS benefited the consumer. Truth hurts sometimes huh? Ouch.

[ProRanger7777]

06:09 PM on 10/04/2011

Before everyone gets their panties in a wad against Bof A,maybe they should know the facts. Barney Frank and Cris Dodd passed a bill last year invoking fees on any bank that has more than $10 Billion in assetts. The fee they imposed? A $2 a month debit card tax. So Bank of A instituted a $5 fee per mo to pay the federal tax,and the $1dollar for processing paperwork because of it. This was a DEMOCRATIC revenue enhancement, ie TAX. See, Democrats don't get the fact that when they impose these assinine fees,TAXES, on businesses, that businesses are going to recoup their losses thru higher prices. Its called Economics 101. Why do you think Cable is so high? Your phone? Cell? ALL federally and locally imposed taxes, so they have more $$$ to piss away. Go ahead, check it out. Its all there. Then go look at your cell and cable bill, at all the taxes. The Dems look at business as their personal piggy banks, but WE are the ones who pay in the end,and get it in OUR ends!

[Terminal1]

09:02 PM on 10/04/2011

Do 'they" grow you guys in fields or something?

No.. it IS the leadership of the banks deciding to implement these fees. It wasn't an act of congress. Instead of skimming from the merchants the banks have turned their eye on regular folks to recover what was lost. God forbid a shareholder feel any pain.

[ProRanger7777]

05:34 AM on 10/05/2011

You are blaming the wrong people. TRUTH hurts doesnt it? Do you work? Did you make a salary? Benefits? HOW do you think the company PAID for them? From Govt handouts? Wake up. Where do YOU people come from. Time to put down the latte', stop pretending the world is perfect,and WAKE UP.

[barbra1971]

01:21 AM on 10/05/2011

Hm... if I go by your example I may charge my customers instead of 6% sales tax let's say 15% and pocket the difference like BofA is trying to do? Sweet!

(A $2 a month debit card tax. So Bank of A instituted a $5 fee per mo to pay the federal tax,and the $1dollar for processing paperwork because of it)

2+ 1 = 5 Adorable!

[ProRanger7777]

05:35 AM on 10/05/2011

Dont shoot the messenger. Ask Durbin why he thought he needed to inpose a $2 tax per debit card????