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    3 Replies Latest reply on Oct 16, 2012 10:47 PM by SBC Team

    Enough with the fees, Bank of America.

    dee_dee Wayfarer

      Hello, I am tired of hearing how Bank of America want to help small business. If they really wanted to help, they would give small business owners a break on the fees. I was satisfied with Bank of America before they started charging me $16 every month I don't have over $250 worth of transactions on my business credit & debit cards. Like all business owners, my goal is to make money, not spend it. And, when I do spend it, many times the money comes right out of my Paypal account, not my bank account. That's just the way business runs now.. I have 5 different accounts with Bank of America and have been a loyal customer for 7 years and never had to pay a fee once until they enacted this policy. I am currently shopping around for a new bank which to do business with. If anyone else feels the same way, please feel free to comment below. Thank you.

        • Re: Enough with the fees, Bank of America.
          LWMareS Scout

          Hello Dee Dee, and thank you for posting.


          We're sorry to hear after being a loyal Bank of America customer for seven years, you're unhappy with the fees you're paying. Have you talked to a Small Business Banker yet?


          The Small Business Bankers are the experts who can work with you to evaluate your current account and let you know your options. You can call 800.975.5534 to talk to a Small Business Banker. Or if you prefer, please check with your local branches and make an appointment to speak with a Small Business Banker in person.


          We appreciate your giving us a chance to respond,


          Mare Stern

          Moderation Manager

            • Re: Enough with the fees, Bank of America.
              dee_dee Wayfarer

              Thanks for the reply. Believe me, I called the bank the second I got that letter in the mail. I talked to a Small Business Banker on the phone for about 30minutes. I told the woman I am a starving artist with an online shop and there is no way I will have $250 worth of transactions every month. On busy months maybe, but I have been paying this fee for at least the past 4 months. The person I spoke with on the phone basically apologized and gave me no options. I should not have to completely change the way I do business in order to avoid a fee and I should not be punished with a fee for having a small business checking account to run my online shop. Remember it was once FREE as long as I used my debit card once a month. This $250 requirement is just too much, and it is certainly NOT helping small businesses grow in this time of economic uncertainty.

                • Re: Enough with the fees, Bank of America.
                  SBC Team Guide

                  Hi dee-dee,


                  Your frustration about bank fees is duly noted. FYI- Here in the small business community, we're all about small business owners helping each other to make their small businesses become more successful.  I'm sure our members (and small business experts) can provide some valuable (and free) advice and guidance to help you take your business to the next level.  BTW - We love your beaded hamburger profile image!  That is truly a work of art (and looks tasty, too)!


                  The first thing we would suggest is to consider changing some of the privacy settings in your profile.  Currently, no other community visitors or members can even see the name of your business or your business' web site address.  Consider changing these profile fields as visible to "Everyone". 


                  Next, we would encourage you to introduce yourself here.  This is the area of the community where you can tell us some more about your business.  And, don't be afraid to ask other members to critique your website, marketing materials, sales pitch, etc.  There is a wealth of knowledge here. 


                  Again- welcome to the community!


                  The Small Business Community Team.