Contact Us

Florida-Based Community Bank to Pay Customers for Their Business

money
Joe Raedle, Getty Images

In response to Bank of America’s recently announced $5 monthly fee for debit card usage, Florida-based Community Bank is doing the reverse — it’s paying customers to bank with them.

Katie Pembles, Community Bank president, told Bradenton.com, “We needed to do something to help consumers who are under attack from behemoth national banks charging fees that just don’t make sense … we thought paying people $5 per month rather than charging them $5 per month was a good way to set us apart.”

In a move President Obama calls a “mistreatment” of consumers, national banks such as BofA, Wells Fargo and Citibank have all implemented fees they say are necessary in light of new legislation that caps how much they can charge vendors when debit cards are swiped.

Consumers outraged by the action have given credit unions an influx of business. One such organization, Navy Federal Credit Union, reports a 20 percent increase in new account openings since BofA announced the debit card fee.

[HuffingtonPost]

Best of Kool 101.7

Recommended For You

Around the Web

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://kool1017.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Register on Kool 101.7 Radio quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a member? Sign up here

Register on Kool 101.7 Radio quickly by logging in with your Facebook account. It's just as secure, and no password to remember!