The unveiling of Bank of America’s newest policy has not gone over well with the public.
The Wall Street Journal reported that a particular checking account that was of great benefit to low-income bankers would no longer be free. The new policy would institute a $12 monthly fee for checking accounts unless they carried a minimum of $1,500 or received direct deposits greater than $250 each month.
The policy went into effect this month for all remaining eBanking customers. Some had their accounts switched over as early as 2015.
People sought clarification online.
To understand the impact of the fee, some broke the numbers down over time.
Several called on current customers to leave Bank of America and open an account with a credit union in their area.
When one customer announced their intention to close their Bank of America account, the bank asked how they might keep the business relationship.
“Don’t be assholes to poor people,” Twitter user @WesAtt replied.