BOA testing new fee and accounts structure
Account holders in BOA will have to pay $9 as fee for maintaining their accounts
According to Bank of America spokesperson now customers will not be able to avoid a monthly service ($9) fee even if they do have minimum balance amount($1500) on new “Essential” accounts.
Other accounts unveiled are “Enhanced” and “Premium,” which will relate to customers with high balances and more interest-bearing checking and savings account, or refer to their credit card or mortgage services. And a new “Platinum Privileges account requires the use of the Bank of America investment services.
Nobody is happy with the savings rate in these days. Even the so-called high yield savings accounts is closer to zero if invested for longer period. Some people may remember when the savings rate were at double digits.Analyze your risk adequately invest your money, and the purchase value assets as they are for sale. Let as much liquid as you really need. Take the low interest rates which is available on your liquid money right now. Not to chase riskier investments just because the rates are low.