Bank of America is going to start charging customers $5 a month for debit card fees. . .because they aren't making enough money. I promised myself I wouldn't editorialize (much) on this blog, so let's just suffice it to say that I don't think the people who are in C-level positions at large banks are in danger of facing foreclosure. (Well, not anymore at least, for Bank of America.) They are doing just fine. They will survive without our $60 a year.
There are ways to avoid these fees, first of all. They are not practical for everyone (for example, some people's situations may make it difficult or impossible to maintain a minimum balance), but if you can do them, you'll be able to avoid them.
But--maybe you are not confident that you'll be able to make these steps. Maybe you don't care--maybe it's the principal of the thing. You want to tell the bank to take their fees and . . . anyway. You want to Make a Stand. (Look, I'm all for that. I joined my credit union when I saw how much Big Bank, Inc. was charging me per month. It was obscene.)
You can switch to a bank or a credit union that will not charge you this fee with a clear conscience. Promise! But. . .there are some things you have to keep in mind before you go switch to a credit union or a small, local bank.
Another thing: try to make sure that when you use your debit card, you do so only in ways that will not incurr other fees. I'm part of a credit union through an old job (huzzah!) and I'm extremely lucky in that my credit union will reimburse me for charges I incur at out-of-network ATM's. However, I still take pains to use ATM's in my network because I swear that one day, they will drop that benefit. Things are tough for everyone. I'm just sayin'.