In response to customer feedback and the changing competitive marketplace, Bank of America has announced
that it no longer intends to implement a debit usage fee.
“We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” said David Darnell, co-chief operating officer. “Our customers’ voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.”
In related news, Wells Fargo also announced that they were canceling their $3 per month debit card usage fee pilot.