Well, probably not the death of free checking accounts, but a little hyperbole never killed anyone, right?
DQYDJ already gave you a “view from 35,000 feet” analysis of new debit card transaction caps in our last article, but we wanted to follow it up with something deeper, for those interested in how the sausage is made. We’ve dug into two of the more recent Bank of America investor releases and are ready to share our thoughts on why Bank of America’s move is rational – and you can expect other banks to follow. Yes, likely even online banks and credit unions. However, first up is Citibank, who is eliminating free checking… unless your account is over $6,000.