Usually I do not read my bank statements, but in an effort to clean my room I decided to open it up and got a nice new pamphlet and discovered some fun new things if you have one of their MyAccess checking accounts.
Since we had credit card reform, the banks are sticking it to the customers. The stupid congress members and President Bush gave them a boat load of bailout money when they should of just went out of business. Since they got TARP, the customers should not be shafted. However customers usually do not have big money to bribe politicians with political contributions, we do not have a voice.
If you have a MyAccess checking account please be aware that fees will be increased to $12 a month from $8.95.
I am concerned by the requirement that we must have a direct deposit of $250 or more per statement cycle, so if you get a bi-weekly paycheck of $228 for both weeks of the billing cycle adding upto $456, you still get to say goodbye to the $12. That is why I moved to a new bank.
This is in effect May 24, 2011
There is also a second addition listed on the wonderful account changes pamphlet.
If your account is overdrawn less than $10 at the end of the day, you were not charged overdraft fees and overdraft protection transfer fees, but not now.
So if you were eating at Subway and you were at a dangerous level on your checking account balance you might get the most expensive lunch at Subway with a $35 penalty. And if you are wreckless several times that day, you can be hit with 105.00 more in penalties upto a max of 4 fees per day.
You are highly encouraged to enter into an overdraft protection program through a savings account, or a credit card.
This is in effect June 27, 2011
Yes, it is obvious that we should be responsible about checking our balances. I did help configure alerts on other accounts my family have so they do not get hit with big fees. However this is just another way for Bank of America to milk you for more money.