(WHDH) — Bank of America’s eBanking customers who did their banking online never had to pay a monthly fee. It didn’t matter how low their balance got. That’s not the case now.
All customers with eBanking accounts have been transitioned to Core Checking, which comes with a $12 monthly fee.
The bank says customers can avoid the fee if they make a monthly direct deposit of at least $250 or maintain a balance of $1,500.
The change angered many customers, to the point where an online petition was started in opposition of the new rules. Thousands have signed it.
Some labeled the bank’s latest move as an unnecessary burden on lower-income customers.
https://twitter.com/jthebanks/status/955939631240953856
The bank offers a cheaper option, the SafeBalance account, which has a $4.95 monthly fee. Though SafeBalance does not come with the same array of features as Core Checking.
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