Bank of America Drops Free Checking Accounts
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What are the vision and goal of Banks? Bank of America dropped free Checking accounts and the most affected are low income users. Those who can not maintain a daily balance of $1500.00
Bank of America had Online Banking which used to be free of charge. Now they decided to convert these account into standard accounts so that they can charge a monthly fee when the accounts don't meet the minimum requirements ( a direct deposit or $1500 minimum balance).
This decision is making many customers unhappy and for sure they are moving to other alternatives such as switching to Credit Union and even going to Cryptocurrencies where there is no monthly fees.
As the concurrency ecosystem grows and adopted where users can buy basic needs each day users will join the revolution, it looks to me that the banking system is coming to an end.
Is this the beginning of the end for Banks or will they adapt?
What do you think?
bank of america is trash. that's pretty much what i think, lol.
Yep, Opinions count...Thank you.
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