Bank Of America Atm Fee
In 2012, Bank of America’s management made the choice to take on a new beast, the customer. Bank of America has decided to charge a monthly fee for the privilege of shopping with their debit cards on either debit or credit during the check out process. At this time, there have been no plans to alter the ATM fees for customer needing to get cash out. Throughout this study, I have five main points to exam. These are: What caused Bank of America to invoke the fee? What was the cost of customer dissatisfaction? Where there any positive effects on either the business or general public? How are customers fighting back? What solutions could have saved Bank of America the headaches? I will take a look at each side of the puzzle including the consumer, the government, and the business to truly understand the background of the fee and how each group has effected the other.
The government …show more content…
(2011, November 13). Banks Quietly Ramp Up Consumer Fees - NYTimes.com. The New York Times - Breaking News, World News & Multimedia. Retrieved February 9, 2013, from http://www.nytimes.com/2011/11/14/business/banks-quietly-ramp-up-consumer-fees.html?pagewanted=all&_r=1&
FITZPATRICK, D. (n.d.). Bank of America Weighs New Set of Fees - WSJ.com. The Wall Street Journal - Breaking News, Business, Financial and Economic News, World News & Video - Wall Street Journal - Wsj.com. Retrieved February 9, 2013, from http://online.wsj.com/article/SB10001424052970204571404577253742237347180.html
Kavoussi, B. (2011, December 4). Banking Groups Attack Obama 's Critique Of BofA Debit Card Fee. Breaking News and Opinion on The Huffington Post. Retrieved February 9, 2013, from http://www.huffingtonpost.com/2011/10/04/banks-obama-bank-of-america-debit-card_n_993907.html
Keeney, J. (n.d.). Bank of America Debit Card Fee: A Loss of Perspective. NavArts Blog. Retrieved February 9, 2013, from
The government …show more content…
(2011, November 13). Banks Quietly Ramp Up Consumer Fees - NYTimes.com. The New York Times - Breaking News, World News & Multimedia. Retrieved February 9, 2013, from http://www.nytimes.com/2011/11/14/business/banks-quietly-ramp-up-consumer-fees.html?pagewanted=all&_r=1&
FITZPATRICK, D. (n.d.). Bank of America Weighs New Set of Fees - WSJ.com. The Wall Street Journal - Breaking News, Business, Financial and Economic News, World News & Video - Wall Street Journal - Wsj.com. Retrieved February 9, 2013, from http://online.wsj.com/article/SB10001424052970204571404577253742237347180.html
Kavoussi, B. (2011, December 4). Banking Groups Attack Obama 's Critique Of BofA Debit Card Fee. Breaking News and Opinion on The Huffington Post. Retrieved February 9, 2013, from http://www.huffingtonpost.com/2011/10/04/banks-obama-bank-of-america-debit-card_n_993907.html
Keeney, J. (n.d.). Bank of America Debit Card Fee: A Loss of Perspective. NavArts Blog. Retrieved February 9, 2013, from