Community Bank To Pay Customers To Open Accounts In Response To BofA's Fees

by HuffPost Business
Friday, October 14th, 2011

While many banking giants are starting to charge fees for debit card use and other once-free services on checking accounts, one regional bank is doing exactly the opposite.

Southwest, Florida-based Community Bank is offering customers $5 per month to open a checking account, reports. The payment is a direct response to big banks that have recently announced a slew of fees that they’ll be charging their customers.

“We needed to do something to help consumers who are under attack from behemoth national banks charging fees that just don’t make sense,” Katie Pembles, Community Bank president told in an interview. “People have a choice of where to bank, and at Community Bank, we thought paying people $5 per month rather than charging them $5 per month was a good way to set us apart.”