Wednesday January 5, 2011
NEW YORK (AP) -- Bank of America is rolling out a pilot program that will offer its customers a menu of checking accounts with a variety of fee options.
The nation's largest bank is testing in Georgia, Massachusetts and Arizona ways to offer customers a choice of how they pay for their accounts. The pilot includes ways to avoid fees by linking multiple accounts, credit cards and even investment accounts with its Merrill Lynch unit.
The Charlotte, N.C.-based bank follows other big banks including Citigroup and JPMorgan Chase in offering new account lists with various fees attached -- and options for ways to avoid those fees.
It's all part of the new banking landscape, brought on by
restrictions on overdraft fees, credit card charges and other
lucrative revenue sources for banks.
(Copyright 2011 by The Associated Press. All Rights Reserved.)