I’m glad I’m not a Bank of America customer. Apparently BofA is testing yet another new set of fees to boost its sagging revenues, according to the Wall Street Journal.
It’s not necessarily the fees that bother me the most about BofA, it’s the size of the bank. It’s too big. And the bigger the institution, the more impersonal the service and, more importantly, if the bank isn’t doing well, too many people can get caught in the crosshairs.
Looks like consumers are in a fee-fighting mood, and are switching away from big banks that try to impose them.
An independent study shows a distinct increase in the number of bank switches toward smaller banks. The J.D. Power and Associates 2012 U.S. Bank Customer Switching and Acquisition Study, released Monday, shows that an increased number of American consumers switched banks late in 2011 — and when they did, fees were a big reason.