Community Corner

Reader Poll: Will You Leave Bank of America Because of New Debit Fee?

On Saturday, a new charge cap went into effect, meaning that the most a bank can charge to merchants every time there's a debit card swiped is 24 cents.

Last week, Bank of America announced a $5 monthly charge for its debit card users, and now Sen. Dick Durbin (D-IL) is telling the bank's clients to walk away.

"My word to consumers across America is talk with your feet, look for a debit card that doesn't charge the Bank of America fee," Durbin told the Huffington Post, adding that the revenue from the new fee will likely far outstrip what they'll lose from recent bank fee reforms.

Durbin proposed an amendment last year to cap the amount of money banks can charge merchants who accept debit card swipes. On Saturday, the new cap went into effect, meaning that the most a bank can charge to merchants every time there's a debit card swiped is 24 cents.

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Bank of America spokeswoman Anne Pace told the Huffington Post that other banks are testing similar fees and that Regents and SunTrust are also hiking charges.

Bank of America has three locations in Bolingbrook:

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  •  at 700 E. Boughton Rd.
  •  at 190 S. Weber Rd. 
  •  at 111 Lily Cache Ln.

So we ask...

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