{"id":31402,"date":"2018-01-23T08:58:30","date_gmt":"2018-01-23T16:58:30","guid":{"rendered":"https:\/\/bensbargains.com\/thecheckout\/?p=31402"},"modified":"2018-01-23T12:43:07","modified_gmt":"2018-01-23T20:43:07","slug":"cost-alert-bank-america-adds-12-fee-e-banking-checking-accounts","status":"publish","type":"post","link":"https:\/\/bensbargains.com\/thecheckout\/bens-bytes\/cost-alert-bank-america-adds-12-fee-e-banking-checking-accounts\/","title":{"rendered":"Cost Alert: Bank of America adds $12 fee to e-banking checking accounts"},"content":{"rendered":"
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\"bank-america\"<\/a><\/p>\n

Announced this week,\u00a0Bank of America is ending free checking for e-banking accounts that don’t\u00a0maintain a minimum daily balance of $1,500 OR have a monthly direct deposit of at least $250. Bank of America will start charging<\/a> customers $12-a-month who don’t meet those conditions.<\/p>\n

These e-banking accounts were originally created in 2010 in order to attract customers that were looking for a digital-only experience. Customers that wanted to visit branches or receive paper statements were asked to pay an additional $8.95 fee for the privilege.<\/p>\n

While students under 24 will be able to get the fee waived by a\u00a0Bank of America associate, this still impacts a large number of BoA consumers. At this time, a Change.org petition has gathered nearly 50,000 names<\/a> protesting the change in policy.<\/p>\n

Beyond the $12 “Monthly Maintenance Fee,” BoA has a variety of other charges that can impact consumers like a $35 overdraft fee, a $30 stop payment fee, a $2.50 out-of-network ATM fee and several others.<\/p>\n

Consumers using\u00a0e-banking may want to consumer shifting to an online-only bank. For instance, options like Aspiration Summit or Radius Hybrid offer the ability to earn interest on checking accounts (between 0.85% to 1%) with a minimum $2,500 monthly balance. Simple offers a $0 monthly fee account with free access to 40,000 ATMs. Discover also offer a $0 monthly fee account, but also offers 1% cashback on all debit card purchases linked to that account.<\/p>\n

NerdWallet does a good job of maintaining lists of the best accounts, if you are looking for reviews -> LINK<\/a>. Consider your local credit union as well. Most offer competitive rates compared to corporate banks.<\/p>\n","protected":false},"excerpt":{"rendered":"

Announced this week,\u00a0Bank of America is ending free checking for e-banking accounts that don’t\u00a0maintain a minimum daily balance of $1,500 OR have a monthly direct deposit of at least $250. Bank of America will start charging customers $12-a-month who don’t meet those conditions. These e-banking accounts were originally created in 2010 in order to attract […]<\/p>\n","protected":false},"author":2,"featured_media":31407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[1982,1983,1984,1986,1985],"class_list":["post-31402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bens-bytes","tag-bank-of-america","tag-banking","tag-checking","tag-fees","tag-spending-money"],"_links":{"self":[{"href":"https:\/\/bensbargains.com\/thecheckout\/wp-json\/wp\/v2\/posts\/31402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bensbargains.com\/thecheckout\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bensbargains.com\/thecheckout\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bensbargains.com\/thecheckout\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bensbargains.com\/thecheckout\/wp-json\/wp\/v2\/comments?post=31402"}],"version-history":[{"count":7,"href":"https:\/\/bensbargains.com\/thecheckout\/wp-json\/wp\/v2\/posts\/31402\/revisions"}],"predecessor-version":[{"id":31410,"href":"https:\/\/bensbargains.com\/thecheckout\/wp-json\/wp\/v2\/posts\/31402\/revisions\/31410"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bensbargains.com\/thecheckout\/wp-json\/wp\/v2\/media\/31407"}],"wp:attachment":[{"href":"https:\/\/bensbargains.com\/thecheckout\/wp-json\/wp\/v2\/media?parent=31402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bensbargains.com\/thecheckout\/wp-json\/wp\/v2\/categories?post=31402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bensbargains.com\/thecheckout\/wp-json\/wp\/v2\/tags?post=31402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}