NEW YORK — Chase won’t be charging customers to use their debit cards, as the backlash over Bank of America’s planned $5 monthly fee continues.
The retail banking arm of JPMorgan Chase & Co. will stop charging $3-per-month fees when a pilot program is completed in November. The fees sent customers flocking to credit unions and community banks to find no-fee options.
Friday, Bank of America bent. It likely will offer ways for its customers to avoid debit card fees through using direct deposit, maintaining minimum balances, or using Bank of America credit cards.