Bank of America will charge a $12 monthly fee for accounts with less than $1,500 or monthly direct deposits of at least $250

Bank of America has eliminated its free checking account program, a service that was popular with many low-income customers looking to avoid extra fees for having a low balance.

Beginning this month, all eBanking customers will face a $12 monthly fee unless the customer has a direct deposit of $250 or more or a minimum balance of $1,500. The process of switching over Bank of America customers to this service began as early as 2015. The bank does have a checking account geared towards low-income customers that charges only a $4.95 monthly fee, but it doesn’t allow customers to write paper checks, a financial necessity in the lives of some individuals.

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