Good news blog readers! I received a tweet Tweet from SunTrust yesterday afternoon. The message is clear that SunTrust is dropping the $5 debit card fee. It was also announced on the SunTrust Facebook page that the bank is dropping the $5 debit card fee.
While this is very good news I have to wonder if it is enough. Will it keep customers or is the damage already done?
Opinions on the Facebook page are mixed. Now that SunTrust has dropped the $5.00 debit card fee some customers are willing to stay. Others are saying that the move is 'too little too late'. Several of the comments indicate that customers are looking into other options that they may have.
Even though SunTrust has dropped the $.5.00 debit card fee other fees still remain. Account holders who enjoy free checking now may have to pay $7.00 a month beginning November 10. The fee can be avoided by keeping a $500 minimum daily balance or by having a direct deposit. These are options that many people don't have.
I have been a loyal SunTrust customer for several years. Other than the bill pay system I've been pleased with the service overall. However, my credit union offers a green account option with no monthly fees. My puny little savings account has been there for a few years and I've been pleased with service at the credit union too.
Ultimately, my choice will probably come down to what I can afford. It's hard to justify paying nearly $100 a year for something that I can get for free elsewhere.
So, what's your opinion? What do you think about SunTrust dropping the $5.00 fee? Is it enough or are they still behind the curve? Share your thoughts in the comment section below.
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