Bank of America considers checking account fee revamp

[Xolodno]

20. They can get away with it because they know...

...they can.

I work at an insurance company and one the things we know is that its much easier to change insurance companies than it is to change banks. That's one of the main reasons they give multi-policy discounts. If your house/apartment, car, life, etc. is with one company and going with another company on one of them causes the premium to go up enough to eat any "savings", then its incentive to stay....of course, you could just move all your policies. Then there are those who only buy auto and skoff at any renters insurance and they can change companies as they change socks. But not so for a bank....

Opening a new account and closing the old one has gotten easier, however, more and more places of employment have instituted direct deposit...so that can be a hassle to change, and if your bills are paid electronically...another hassle to change. And then most of the big banks charge some sort of fee's so, their customers kind of just live with it.