Bank of America has announced a host of new charges for debit and credit card customers that will go into effect November 1, 2011.
Phone Activation Fee: when you get your new card in the mail, there is $5 phone fee for activation by calling the 800 number on the card, which can be avoided by using our website: www.BoAgotcha.com
Online Activation Fee: if you go to our website rather than calling to activate your card, there is a $5 fee.
Purchase Fee: Most merchants accept BoA credit and debit cards and every time they accept yours a modest 2% of purchase fee is added to the retail price you paid. No additional computation fees will be added at this time.
GPS Proximity Fee: Now that all newly issued BoA credit and debit cards are electronically linked through GPS, card holders will be charged a proximity fee whenever the card is within 200 yards of a BoA bank or ATM machine. For customer convenience, this charge will be added on at the end of the billing period to eliminate the nuisance of customers trying to steer clear of BoA locations.
Out of Network Fee: should you find it necessary to use a credit or debit card other than your BoA, you will be charged a 1% fee on every increment of $100 forwards or backwards, whichever occurs first.
Customer Service Fee: Our operators are standing by 24/7 to bill your credit or debit card should you have the audacity to contact our call center. Please note that our menu options have changed and that by requesting any language other than Spanish, a language upgrade fee will be added to the cost of the call.
Stand By Fee: Our time is valuable. Customers who remain on hold, waiting to speak to a representative will be billed at the “standard hold time rate” of 50 cents per minute and “premium hold time rate” on weekends and holidays. The amount billed for premium time is not available nor negotiable, so the hold option is always at your own risk.
Online Banking Fee: We are proud of our online banking services and encourage customers to run up a tab by using them in order to avoid the current charges for banking by mail. Paying your bills online has never been easier, nor this expensive. For your convenience, the charges for each click of the mouse are automatically added to your total monthly bill. And we never charge you for fruit or cheese unless you opt out (“opt out” charge figured separately).
Overcharge Fee: If at any time you find that you have been billed for a service you never would have paid for had you known in advance, BoA will conduct an investigation (at current investigative fee rates) and bill you for our error plus any charges or fees previously missed through no fault of our own.
Cancellation Fee: Your BoA credit or debit card account may be canceled at any time either by you or by BoA, subject to the customary cancellation fee and approval of your pre-request arbitration agreement. All legal fees are the responsibility of the BoA customer, his representative or heirs in the case of unforeseen death by misadventure or otherwise as provided by law.
Regulatory Advancement Fee: For your convenience costs of lobbyists working on behalf of BoA and its subsidiaries to discover fees and charges not yet applied or imagined will be imposed on customers in increments disguised as regulatory fees imposed as taxes both local and federal in amounts to be determined by the estimated size of bonuses awarded to BoA executives in any and all cases herewith and forthwith, in settlement of grievances perceived or anticipated. Welcome aboard!