Bank of America has decided against charging a fee for debit card users after many customers voiced concern and anger about the new policy.
The fee would have charged customers $5 per month, except for select groups — including the military and student users, said Tony Allen, a spokesman for Bank of America.
Tuesday’s press release by Bank of America stated that customers’ negative opinion of the new policy was the reason for eliminating the fee.
“We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” said David Darnell, Bank of America’s co-chief operating officer in the press release.
“Our customers’ voices are most important to us,” he said. “As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.”