Bank of America to charge $5/month for debit cards

(AP) - Bank of America plans to start chargingcustomers a $5 monthly debit card fee.The fee will be rolled out starting early next year.A Bank

NEW YORK - (AP) - Bank of America plans to start chargingcustomers a $5 monthly debit card fee.

The fee will be rolled out starting early next year.

A Bank of America Corp. spokeswoman says customers will only becharged the fee if they use their debit cards for purchases in anygiven month. Customers won't be charged if they only use theircards at an ATM.

Chase and Wells Fargo have been testing $3 monthly debit cardfees in select markets. Neither bank has said when it will make afinal decision on whether to make the fee permanent.

Customers have been seeing higher banking fees and fewer rewardsin the past year or so. The changes come as banks adjust to newregulations that will limit traditional revenue sources.

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