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BOA introduces $50 underdraft fee


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2014 Sep 19, 9:14am   1,607 views  4 comments

by tovarichpeter   ➕follow (6)   💰tip   ignore  

http://www.theonion.com/articles/bank-of-america-introduces-new-50-underdraft-fee,36881/

Saying the penalty will cover the costs incurred by the financial institution whenever a customer makes a withdrawal that results in a positive account balance, Bank of America introduced a new $50 underdraft fee Tuesday on all checking and savings accounts. “Beginning today, we will assess a fee on customers who withdraw less money than they have available,” bank spokesperson Melissa Scott told reporters, noting that the $50 surcharge will automatically be deducted any time a patron uses a Bank of America debit card or check to make a purchase that is less than the dollar amount of his or...

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1   MisdemeanorRebel   2014 Sep 19, 9:18am  

That's hilarious.

2   EBGuy   2014 Sep 19, 9:57am  

Laugh now. Just wait until the Fed mandates this for all banks.

3   dublin hillz   2014 Sep 19, 9:59am  

Nothing reflects purity of capitalism better than getting rewards points at the expense of them broke asses who be paying interest.

4   EBGuy   2014 Sep 19, 10:49am  

dublin hillz said: Nothing reflects purity of capitalism better than getting rewards points at the expense of them broke asses who be paying interest.
Hey now, let's not get too cynical heading into the weekend. Merchants fees pay for the reward points. The broke guy pays his interest to the shareholders. Ahhhh, I feel much better now.

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