Bank of America dropping debit overdraft fees

Customers of one North Carolina-based bank will no longer have to worry about overdraft fees starting this summer. Bank of America will drop the $35 overdraft fee on debit card purchases.

Under the new rule, customers who try to make a purchase that would overdraw their account would be denied and ATMs would alert customers before allowing them to withdraw too much money from their accounts.

“I think the possibilities is a good thing to do,” said BoA customer Leo Bradley, “because you know if you overdraft and they charge you $35, that’s a pretty good little bit of money.”

The new policy will take affect in the middle of June for new customers and the middle of August for current customers.