Bank of America Kills $5 Debit Card Fee

Bank of America is getting if from all angles these days.

They announced their $5 fee hike for debit card users just as the Occupy movement heated up. They’ve been in the crosshairs ever since, nationally as well as within the forums and meetings of .

Today they announced that they will abandon the fee plans, saying “We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee … 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."

We on October 4 asking how Davisites would deal with the fee. Here are the results:

• 46% would switch to another bank
• 15% would use cash to avoid the fee
• 9% would use a credit card to avoid the fee
• 6% would pay the fee

The Occupy Movement has made plans to remove their money from large banks like Bank of America, Wells Fargo and Chase by November 5. They intend to move their money to smaller, community banks or credit unions.

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