Victory against Bank of America
comes with a warning

Stealth fees will rise

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Bank of America Corp. and other major banks have scrapped plans to charge customers for using debit cards, but the companies are almost certain to raise or introduce a host of other fees to protect their profits.

Consumers should prepare for even higher checking and overdraft charges, analysts said. If they use another bank’s automatic teller machine, they may well get hit with higher ATM fees. And if they want to receive paper statements in the mail, they may end up paying for that, too.

“The debit card fee was only one of several different levers that banks can pull,’’ said Greg McBride, an analyst for Bankrate.com, a website that tracks rates on checking accounts and other financial products. “Consumers should continue to be vigilant about the prospect for new and higher fees.’’

read more: http://www.boston.com/business/articles/2011/11/03/the_debit_card_fee_is_dead_but_other_fees_could_be_coming/