0 reads
Leave a comment

Bank of the America has announced that they will no longer offer free checking account options for low balance holding customers. The Charlotte, N.C. based bank will be moving all of its remaining eBanking customers to standard core checking accounts. 

Via The Week: 

Bank of America, the second-largest U.S. bank by assets, just finished switching all customers who used a free online-only checking account to checking accounts that charge customers a $12 monthly fee if they don’t maintain a minimum daily balance of $1,500 or a monthly direct deposit of at least $250, The Wall Street Journal reports. The eBanking accounts were popular with freelancers and people with low incomes, and a petition protesting Bank of America’s shuttering of the accounts has drawn more than 45,000 signatures at Change.org.

Bank of America has been making the account transitions since 2015. 

Also On iPower 92.1/104.1 FM:
comments – add yours