Economy Article

"Bank Of America Wants People To Pay $5 For A Currently Free Service"
By: The Huffington Post
From: The Huffington Post

Banks being corrupted and doing shady things are nothing new. Some of the most corrupted and shady works occur at banks, causing their customers to go through many problems. One example is what Bank of America is doing. Bank of America had a service that was called "SafeBalance" that made sure that customers would not overdraw. It was considered a great service that allowed a sense of safety for one's bank account. As of now, the service is optional and if one desires to add it to their account, Bank of America will charge four dollars and ninety five cents. "The SafeBalance account was designed for a small segment of customers who want added protection against all overdrafts."  Betty Riess, a spokesperson from Bank of America, also stating that "The key difference between SafeBalance Banking and our more traditional checking accounts is that there are no checks and no overdrafts." Bank of America can do this and get away with it, because people do not know what the service was, and that it was available for free from the start. People will throw their money away without realizing that they have the right to demand to have the bank revert to the original plan.