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Or A Shoebox In Your Closet. No Fees, And Instant Access
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Remember a while back when Bank of America was testing charging for most checking accounts in a couple of states? And then they tried a debit card fee and that failed, and everyone forgot about the checking fees? They're back, and it looks like they'll being rolled out nationwide. This will drive a lot of depositors away, but the bank doesn't want their business. It wants only people with large balances (savings or loans and mortgages) that it knows it'll make money from. But there are other options. Credit unions, for one. (Wall Street Journal) UPDATE: The bank says it's not a done deal, so there's that.
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