In Response To Bank Of America, Florida Bank Will Pay Customers $5 A Month To Open Accounts

Bank of America is facing serious backlash for choosing to charge its customers $5 a month to use its debit card on purchases. In response, Florida’s Community Bank is now offering to pay customers $5 per month to open a checking account. Community Bank president Katie Pembles created the offer because “we needed to do something to help consumers who are under attack from behemoth national banks charging fees that just don’t make sense.” Bank of America CEO Brian Moynihan recently justified the new fee as part of BofA’s “right to make a profit.” Pembles sees it differently: “People have a choice of where to bank, and at Community Bank, we thought paying people $5 per month rather than charging them $5 per month was a good way to set us apart.”