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Bank of America will begin charging monthly debit card fee

September 28, 2011

Bank of America Corp. will begin charging customers a $5 monthly fee, beginning early next year, for using debit cards to make purchases, according to MSNBC.com.

"The economics of offering a debit card have changed," said Bank of America spokeswoman Anne Pace. Bank of America is the largest U.S. bank by assets.

Customers will not be charged for accessing the bank's ATMs, and the fee will be waived for premium or platinum privileges accounts associated with the bank's Merrill Lynch brokerage.