Tell Bank of America: No $5 Debit Card Fees
  • Petitioned Bank Of America

This petition was delivered to:

Bank Of America
President and CEO, Bank of America
Brian T. Moynihan

Tell Bank of America: No $5 Debit Card Fees

    1. Molly Katchpole
    2. Petition by

      Molly Katchpole

      Washington, DC

  1.  
  2.   
November 2011

Victory

Molly Katchpole, a 22 year old nanny working two jobs, starts a petition asking Bank of America to drop an unexpected new $5/month banking fee. 300,000 people join, gaining national media exposure and driving customers to leave Bank of America, and inspiring dozens of people to start copycat campaigns targeting their banks. In less than 1 month, Bank of America announces it will drop its new banking fee, as do all other major national banks.

Bank of America, the largest bank in the U.S., will begin charging customers $5 each month to use their debit card to make purchases. This is an outrageous fee.

What's worse is that Bank of America's decision to charge customers for debit card use will likely spread to other banks. Wells Fargo and Chase bank have already announced plans to test a $3 monthly fee to their customers. 

 

Not everyone will pay the fee (at least not at first). If you have $20,000 in combined balances at BofA or have a mortgage with the bank,  they'll waive the $5 monthly fee. That means this change will hit low income customers the worst - including people like me, a recent college graduate working two part-time jobs.

When the recession first hit, we gave Bank of America billions of dollars in bailout money. Our reward is higher fees for the same services. At some point, we've got to say enough is enough.

Please join me in telling Bank of America you're fed up. Sign my petition calling on BofA CEO Brian Moynihan to swiftly reverse the bank's decision to charge us $5 a month to use our own debit cards. 

Photo Credit: Bravo Six Niner Delta

Recent signatures

    News

    1. VICTORY! Bank of America Announces It's Canceling the Fee

      Jess Kutch
      Petition Organizer

      Take a bow, folks. Molly Katchpole and more than 300,000 Change.org petition signers convinced the nation's largest banks to back away from debit card fees. Read Bank of America's formal announcement.

    2. "Score one for a customer rebellion!"

      Jess Kutch
      Petition Organizer

      In less than one month, Bank of America went from announcing a new $5 monthly debit card fee, to reeling under huge pressure from the media, Congress, and Change.org members. Now, Chase and Wells Fargo - two of Bank of America's biggest consumer...

    3. Reached 300,000 signatures
    4. Huge News! BofA Reacts to Pressure, Reconsiders $5 Debit Card Fee Policy

      Jess Kutch
      Petition Organizer

      A source at Bank of America reports that the bank is considering 'softening' its debit card fee after suffering a huge customer backlash.

    5. Bank of America Rakes in $6.2 Billion in Profit Last Quarter

      Jess Kutch
      Petition Organizer

      It was just announced that Bank of America raked in $6.2 billion in profit last quarter. With this latest news, it's hard for BofA to justify wringing an additional $60/year from its debit card customers.

    6. BofA Gives $11 Million Severance to Executives

      Jess Kutch
      Petition Organizer

      What are the $5 debit card fees paying for, exactly? This week, Bank of America announced it's awarding multi-million dollar payouts to former Bank of America executives.

    7. Molly Katchpole on CNN's "Out Front"

      Jess Kutch
      Petition Organizer

      Molly continues to ratchet up the pressure on Bank of America CEO Brian Moynihan over the planned $5 fee. Last night, Molly appeared on prime time cable news to discuss her petition and the consumer backlash over new bank fees.

    8. Reached 200,000 signatures
    9. Another Banking Giant to Adopt Debit Card Fees?

      Molly Katchpole
      Petition Organizer

      We made it on ABC's World News!

    10. BofA Site Problems Persist; Customers Petition Company

      Molly Katchpole
      Petition Organizer

      Great coverage of our story and petition - and a screen shot of our petition! Does this mean more traffic here? Hopefully!

    11. Customers, politicians speak out against BofA fees; site slow for 5th day

      Molly Katchpole
      Petition Organizer

      Our petition is mentioned in the video and text - from Charlotte, NC.

    12. News Coverage of Your Petition Signatures

      Jess Kutch
      Petition Organizer

      News coverage is starting to trickle in about Molly Katchpole's incredible campaign to block $5 fees. Click the link below to read a report by a major financial news blog, The Street.

    13. President Obama Hits New Bank Fee

      Jess Kutch
      Petition Organizer

      President Obama has joined with 120,000 Change.org members in publicly opposing Bank of America's new $5 debit card fee.

    14. Sen. Durbin Responds to the $5 Fee on Twitter & Senate Floor

      Jess Kutch
      Petition Organizer

      On Twitter, Sen. Durbin wrote: "After accepting $45b taxpayer #bailout, I can't believe #BofA would stick it to its customers w/another outrageous fee"

    15. Reached 100,000 signatures
    16. Congress Considers Legislation in Response to BofA's New Fee

      Jess Kutch
      Petition Organizer

      Your voices are being heard! Several members of Congress are now looking at legislative solutions to out-of-control banking fees.

    17. Are you on Twitter?

      Jess Kutch
      Petition Organizer

      Bank of America operates several Twitter accounts. Send a message opposing the new $5 fee to @BofA_News @BofA_Community @BofA_Tips or @BofA_Help.

    18. Citibank is next with a new banking fee

      Jess Kutch
      Petition Organizer

      Big banks continue to look for new ways to squeeze profits from their customers. Citibank has announced they will start charging customers for checking.

    19. Reached 75,000 signatures
    20. 3,000 Signatures Reached!

      Molly Katchpole
      Petition Organizer

      Over 3,000 people have signed on to tell Bank of America that they will NOT be passive!

    21. Reached 3,000 signatures
    22. 750 Signatures Reached!

      Molly Katchpole
      Petition Organizer

      Woohoo! Let's keep spreading the word and making our voices heard: we will not stand for debit card fee profiteering! We can get 10,000 signatures if everyone emails, Tweets, or Facebook-posts this link! Heck, mail Grandma the link!

    23. Reached 750 signatures
    24. 100 signatures reached!

      Molly Katchpole
      Petition Organizer

      Awesome work, everyone! We reached our first milestone of 100 signatures... and now we're on to 200! Spread the word: stop Bank of America's debit card fee profiteering!

    25. Reached 100 signatures

    Supporters

    Reasons for signing

    • Wayne Urton INDIANAPOLIS, IN
      • over 2 years ago

      I got a credit card app from BOA a couple of weeks ago. I used a black marker and wrote across the application, "Not if you were the last bank on earth. I do not trust you". I mailed it in their own prepaid envelop.

      REPORT THIS COMMENT:
    • Susan Massaconi SARASOTA, FL
      • over 2 years ago

      Sign me up.. I hate banks!

      REPORT THIS COMMENT:
    • Anthony Sterling LEHIGH ACRES, FL
      • over 2 years ago

      Well's Fargo is planning to start charging a fee next month.

      REPORT THIS COMMENT:
    • Anthony Sterling LEHIGH ACRES, FL
      • over 2 years ago

      Wells Fargo has now announced that starting in May they will be charging a $7 Monthly fee for checking accounts. Don't let them do this! Sign the petition.

      http://www.change.org/petitions/well-s-fargo-bank-no-monthly-fees

      REPORT THIS COMMENT:
    • JOSE GALLARDO YANCEY, TX
      • over 2 years ago

      why should banking institutions be making money off our money, If my bank or credit union did I would go else where.

      REPORT THIS COMMENT:

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