Bank of America Adds Debit Card Fees, So I Am Dumping BofA for PayPal

https://www.paypal.com/us/mrb/pal=WTNB9WFX6Q8E6 Bank of America has been my bank for a number of years, but I'm dumping them for a number of reasons. The primary one is that I'm not going to pay $5 a month for the convenience of using my debit card. Pay Pal offers me most of the core services I need, and gives me 1% cash back on all my purchases which adds up pretty quickly if you can get all of your life on to the card. It doesn't solve my need for a checking account to pay my land lord, or my car payment, but it addresses all of my other needs.

If you want to sign up for PayPal, Click here: https://www.paypal.com/us/mrb/pal=WTNB9WFX6Q8E6

Category:

Science & Technology

Tags:

• Bank
• of
• america
• Debit
• card
• Fees
• PayPal
• credit
• free
• Debits and credits
• pay
• pal
• bofa
• boa
• online
• banking
• life
• hack
• fee
• transaction
• monthly

[SketchyGamerMan]

I don't know, dude. Do you go to reddit? They've been pounding it for the past few days for some abominable customer service and scams. My mother also had to cancel all her cards linked with them because they were compromised through their service.

I actually use Paypal myself because of eBay and the ease of use to purchase from other sites, but I don't think I'd make such a huge move with them. I actually unlink my bank account and card whenever I'm not using my account for awhile.

[BlackwaterOpsDotCom]

@SketchyGamerMan I have done over $200k worth of paypal, and had very good luck with them. As with all things YMMV. I think people who do bad things, or don't guard their password have very bad experiences with them.

[markbyrn]

Why not just keep the BofA account and continue to use the Paypal Debit card? Like you said, BofA has ATMs everywhere and when you want cash, using the Paypal card to take money out will usually cost fees.

[BlackwaterOpsDotCom]

@markbyrn When a company does something I view as sneaky, or crooked, I stop doing business with them. I opened my account on a set of terms, if they want to change those terms, on existing accounts I view that as wrong. The only way to prevent this from happening is to have companies that make the change see that they lose accounts.

[gamerplay]

Wait paypal has a Debit Card? WTF Can you made a video about that.

[HelloWalterSobchak]

guess the bailout money wasn't put to good use...

[chronofusion]

bank of america is one of the biggest oxymorons since the federal reserve banking system.

bank of america is a company that allows the ENTIRE world to own stock in it. HOW can you even CALL it BAnk of america? Banks make enough money as it is from the rothchilds and bildebergs and their " enslaving " loans ideals. If they would stop accepting loans from fed reserve ( thus further devaluing america's currency) i MAY have less of a problem with them. 1914..sad year for usa.

[Ramblrr]

@Youngy365 For now. They are going to start charging for all ATMs soon, just like in the states. I'm sure they will start charging for debit cards too. We already get charges for using debit cards in a lot of places.

[Youngy365]

I've not known any bank in the UK to charge for using a debit card or any service like that... it's all free.

[Lethalgnome]

Oh well, it's not like I can get Bank of America in The Netherlands ^^

[markbyrn]

@BlackwaterOpsDotCom I got BofA and this isn't the first time they tried to impose some kind of monthly fee. I've always found a way around it like you did, and as long as I don't pay fees, I'm keeping them since the alternative would be to spite myself and end up paying ATM fees or driving longer distances to use a no-fee ATM. But good luck finding a bank that isn't crooked or sneaky - maybe there's one next door to an honest politician.

[BlackwaterOpsDotCom]

@josipis They take about the same amount as a Merchant account would for a business would handling a credit card transaction. In that sense they are VERY competitive, and they are much better about making sure you are paid, so you rarely have a charge back. You have to factor in that if you ship to a verified seller they will make sure you get paid. With a merchant account you could lose that money. And 100% loss on a transaction can be expensive.