American Banker is reporting that Bank of America is now kindly charging certain customers in Georgia $8.95 a month to receive paper statements. It only applies to customers in their eBanking accounts, and the fee is waived if you elect to receive your statements online and not use the bank’s teller services. But, according to American Banker, people in other states may soon be affected as BofA is planning to replace its CampusEdge student accounts with eBanking accounts in other markets.
Other banks do charge for paper statements, but none as big as BofA – and none charge as much as $9. This follows on the heels of reports of an end to free checking at BofA, and other banks. Banks are clamoring for new revenue to offset losses as they comply with federal legislation limiting overdraft fees, a big money-maker for banks in the past.
- Chris Fichera
Similar Posts:
- Completed My Move From BofA Over To Charles Schwab Bank.
- Manilla: Your Accounts [and Statements] in One Place
- BankDirect: With Rates So Low, Should You Opt for American Airlines Airmiles?
- BoA, Other Big Banks Being Reviewed for Antitrust Violations
- Save on current account holiday transactions
Recent Comments