Consumer Confidential: BofA fee, casino bust, National Coffee Day
--Another day, another new bank fee. This time it's Bank of America, which reportedly plans to charge customers a $5 monthly fee for making debit-card purchases starting early next year. The fee will apply to customers with various checking accounts during any month they use their debit card to make a purchase. The fee will not apply to customers who do not use their debit card to make a purchase or who only use it to make ATM transactions. BofA is trying to cushion revenue losses it expects to incur from new caps on the fees merchants pay when a customer uses a debit card at their stores. In June, the Federal Reserve Board finalized rules capping such fees at 24 cents per transaction, compared with a current average of 44 cents.
--Luck be a liposuction tonight. The Trump Taj Mahal Casino Resort plans to give $25,000 worth of plastic surgery to a winner from a player's card contest. The lucky one can mix and match surgeries including breast enhancements, tummy tucks, liposuction and face lifts until the total hits $25,000. According to the website Infoplasticsurgery.com, an arm lift can cost $5,000 to $6,500; Botox treatments range from $200 to $400 per area; breast augmentation surgery costs from $5,000 to $8,000; chin or cheek implants cost $3,000 to $4,500; and liposuction can range from $2,500 to $10,000.
--It's National Coffee Day (whoo-hoo!). And to celebrate, our friends at 7-Eleven, Krispy Kreme and Dunkin' Donuts are giving away free or discounted coffee. And if you're the sort of person who believes "I need a cup of coffee to start my day," you're not alone. Three out of five Americans think that about their first morning cup, according to a survey commissioned by 7-Eleven. Moreover, your career could dictate whether you're more likely chug coffee during the day, according to a Dunkin' Donuts/Career Builder survey. The top five professions likely to have a serious java jones are: scientist/lab Technician, marketing/public relations professional, educator/administrator, editor/writer and healthcare administrator. I'm sure newspaper columnist falls somewhere in there as well.
-- David Lazarus
Photo: Your BofA debit card may soon cost you $5 a month. Credit: Peter Foley / EPA