Go Figure. This whole “consumer pressure” thing works.
So, Suntrust got the message (along with a bunch of other banks). They’ve decided to roll back the $5 per month debit card charge they started to levy, and are even going so far as to refund customer fees. Bravo for you, Suntrust. I want to leave you a just a little less today.
Why are they doing this? In short, because customers hated it and were leaving them over it. Activists have gone so far as to call for a “Bank Transfer Day” on November 5 and are encouraging consumers to ditch big banks and move to smaller local banks and credit unions.
Bank of America seems to be the only holdout. Of course with all of their competitors doing away with this charge, I doubt it will be long before they have to as well.
This is a win for those who say “the free market will take care of things.” In this age of hyper-connectivity and growing civic frustration, people are learning that protesting means more than picket signs. Vote with your wallet. Find a better deal and the market will follow.
http://www.reuters.com/article/2011/10/31/us-suntrust-fee-idUSTRE79U61B20111031
For more info, Google “Suntrust Debit Card Fee.” Yeah…you can do it…go on!
