New BOA 'check image service fee'

[reader79]

Wow - I logged into my account this morning to see a brand new service fee from Bank of America. I have had a MyAccess Checking account, for maybe ten years now? They are now charging me $3/month to include a COPY of cancelled checks that have processed within the statement cycle.

What is this fee?
A Check Image Service fee is charged each statement cycle when we return images of your canceled checks with your paper statements.

This is going to require a visit to the branch on my part. I don't think I've ever been this pissed at a bank.

[share88]

I have BofA and didn't even realize getting them was an option.

[reader79]

They usually are a scanned image on my statement, they stopped mailing the real checks a few years ago. So, even though I qualify for a free account because my direct deposit is over $250, they basically guarantee themselves $3/month because I write one check a month.

[alabamagal]

If you can see the cancelled check in you online banking, just print it out if you want a copy. Just go ahead and kill the trees yourself that way and you won't get charged. Or you could possible save the image. How often do you really need copies of the canceled checks anyway?

[Wisconsin Beth]

My banks stopped offering copies of checks a few years ago. We can get a copy online for up to 1 year and after that we have to go to a branch.

[ontrack]

Yeah, I have BoA and turned off receiving paper copies of statements. You can always view the check images on your online statement.

[Tiny]

Gosh, I haven't gotten a image of a cashed check with my bank statements in more than a decade... I think it's been about 20 years since I got a canceled check back with a statement. There was always a 'charge' if I wanted to get one - but since I never needed one I've paid $0.
I noticed one of the banks I have checking accounts at recently upgraded their system and now everything (statements, cancelled checks) are all available for free on-line.

that said, I bet you have the option to NOT have the images sent with your monthly statement. Heck, you can probably stop the monthly statements as well... I only get paper statements from one bank - because I don't have a choice. I stopped ALL paper coming from the other one. I bank at small local financial institutions...

[Tiny]

Maybe I'm naive/unknowledgeable but what are some reasons you'd need to have the cancelled checks or an authorized image of one - where you'd want to have the checks/images and keep track of them yourself?
OK, I did need one about 20 years ago when I paid the Property Taxes and paid the wrong amount (too much)! I needed to get the County to refund me money and I needed "proof" that I paid my taxes which meant the image of the canncelled check (I wasn't getting the checks with my statements and there was no on-line banking back then). So, yeah, in about 30 years of check writing I've spent $10 to get one check image...

[reader79]

I needed a copy of the one I wrote last month, $50 for a violation on the subway - I had my foot up on a seat. NYC Transit is notorious for forgetting you have paid these, and more than one friend of mine has spent the night in jail because they had an 'unpaid' ticket. The cops who wrote me up kept radioing in my ID to see if they could bring me in. I am carrying around a copy of the ticket and the cancelled check with me at all times.

Other than that, my only student loan that won't accept online payments will be paid in full by next month, so I guess I can go paperless. Online images of checks are only available for free for 180 days, so I'm going to have to remember to save a copy if I write one.

[schildi]

Apr 15, 2011 4:47:58 GMT -5 reader79 said:

Wow - I logged into my account this morning to see a brand new service fee from Bank of America. I have had a MyAccess Checking account, for maybe ten years now? They are now charging me $3/month to include a COPY of cancelled checks that have processed within the statement cycle.

What is this fee?
A Check Image Service fee is charged each statement cycle when we return images of your canceled checks with your paper statements.

This is going to require a visit to the branch on my part. I don't think I've ever been this pissed at a bank.

Why don't you just opt out of this service? If you need a copy of a certain cashed check, just print it yourself online.
Not trying to support BofA, but I kind of understand that fee. A copy of every cashed check in the mail seems like a waste.

[reader79]

It was printed on the back of one side of my statement. I don't see how that was such a big deal on their end. So they are trying to strong-arm us into going paperless. Fine. It worked.

[schildi]

Yeah, this is the trend. It's not all that bad imo, I can live with electronic statements.

[runewell]

With Wells Fargo the listing of any checks (what few I write) show up when I look at my account online. It shows the number of the check and the amount, and there is a link I can click and I can then see an image of the check. I don't bother balancing my accoutns anymore, so I rarely take any notice of these things.

[azphx1972]

BOA sent me a notice about this fee a few months ago, and I changed my statement options so that I stopped getting canceled check images. I'm surprised the OP didn't get this notice.

[Deleted]

Apr 15, 2011 18:00:51 GMT -5 @toughtimes said:

Another good reason is basic security. One can inspect the checks and make sure no one is writing checks on your account without your knowledge. I predict that making customers averse to paying for this basic information will increase losses due to fraud and cost them big time.

I haven't gotten paper checks back for years. I'm active in the account on-line often enough that I'd notice if something were wrong- faster than if I waited for a statement to come in the mail.

I closed down my B of A account today in favor of an on-line bank that gives American Airlines miles based on you average monthly balance. The transition was a pain, which I expected, but so far I'm very happy even though they refund ATM fees up to $2.50 and the nearby B of A charges $3. I guess B of A will still make money off of me.

There's only one time I can think of that I needed a check copy- it was a State Income Tax payment that they claimed they never received. Turned out I'd forgotten to put our SS numbers on it so no one could be bothered to match it up with our return.

[TheOtherMe]

The banks I use have had this fee for years now. US Bank is now implementing it for $6, I think. That is what DF told me. He is also pissed as he has over $300K in that bank and says they are "pimping" him for $6 a month.

[Deleted]

I think you guys are underestimating the need for copies of the check. Maybe it's just because I give to a lot of organizations here at school, but I have to print a copy of a check a couple of times a month so that I can put it in the taxes file. (I refuse to buy junk, but I'm usually up for a $5-$10 donation to each organization once.)

But still even my need is covered by online banking. Regions provides the images online, and I print them. They cover front and back.

[lulubean]

You know I heard that getting the checks back was pretty common back in the day but I have never asked for them back.

[azphx1972]

I scan my important checks (to the IRS, for example) before I send them off, and combined with the statements which show the check number as having been cashed, will hopefully be good enough to satisfy any auditing requirements.