Bank Of America Targeting Lower Income Workers By Charging $12.00 Monthly Account Fee.

Bank Of America switched all customers who used a free online only checking account to checking accounts that Charge Customers $12.00 a month if they do not maintain a minimum balance of $1,500 or a monthly direct deposit of at least $250 according to The Wall Street Journal.

Banks know that checking accounts bring in revenue with fees and hefty overdraft fees.

Bank of America introduced eBanking accounts in 2010 to encourage account holders to bank online. 

It stopped offering these accounts in 2013 and started switching them in 2015.