Yesterday’s post was on corporate generosity. Today’s is on corporate greed–Bank of America’s.
If you are a Bank of America customer who, like many people, does NOT have at least a $250 direct deposit into your account each month OR you can’t keep a constant balance of at least $1500, you’re losing $144 a year. B of A is now charging $12 a month if we can’t meet one of those conditions. When we signed on for our free checking account, we met whatever criteria they asked us to meet. Now they’re going back on their original agreement so they can rake in even more profits. Yes, there is that fine print that says they can change the rules at their own whim, but bankers assured us that nothing would really change.
Maybe you don’t mind giving them that $12 a month. Maybe it doesn’t hurt you. But it does hurt seniors on fixed incomes, sick people who have to scrape together enough dollars to pay medical costs, single parents working two jobs to provide food and shelter for their kids–the poor and vulnerable among us.
That’s just not right. Tell B of A it isn’t right. Tell them they need to rescind that decision NOW. I’m a lucky one because I have a direct deposit. And I’ve been with B of A for decades. I won’t be for long, though, if they don’t get rid of that unfair charge.