When I opened my student checking account at the Bank of America, it was right after I moved to Miami from Minnesota. Bank of America was the closest bank to campus, so I went with my mother to sign up for it.
The woman who assisted in the process explained the fees as follows: you get a 5 dollar maintenence fee if you balance falls below 500 dollars and you only get one teller visit a month, or you get charged.
If you read the information on the website, it says this exact thing.
What they fail to mention is that the "Quick drop" box (where you drop off your deposit near the bank entrance) at the physical banks are counted as teller visits.
They also changed the extra teller visit price from 5 dollars to 9 dollars at the beginning of the year without ever informing me, so as I deposited the rent checks from my roommates and the pay checks I missed while I was home for the holidays, I managed to rack up 45 dollars in deposit charges using the Quick Drop and Depository boxes (located outside of the bank for off-hours). I had no idea these were occurring, let alone at what cost! I found out this morning, as I looked at my statement, and when I went to the bank of inquire, I was told that it's free to make deposits to the ATM.
I believe this to a fradulent misrepresentation of the charges and practices of the Bank of America to seduce college students into using their CampusEdge checking which they tout on their website as "A low-cost checking account designed especially with college students in mind." I believe they are trying to take advantage of students who are away from home with limited mobility and banking options.
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