Mr. Marcus stated, “Our clients are directed to certain websites where they can find credit union options with no fees, but our counseling extends to other options as well”.
Fort Lauderdale, FL (PRWEB) October 17, 2011
The public’s reaction in the wake of recent announcements by Bank of America and other financial institutions that they are going to begin charging depositors a fee to use their debit card has been nothing short of disastrous for them. Depositors are searching for ways to avoid these new fees by any means.
“When banks introduce new fees or remove rewards from one of the services they offer, the immediate reaction for depositors is to find alternatives. This new fee policy has prompted the same reaction from our clients”, said Stephen D. Marcus, President and CEO of A New Horizon Credit Counseling Services, a national nonprofit credit counseling and debt management agency.
In response to the huge backlash, A New Horizon has begun counseling clients on ways to avoid the fees including recommending credit unions that do not charge fees for debit cards. Marcus stated, “Our clients are directed to certain websites where they can find credit union options with no fees, but our counseling extends to other options as well.”
The country's largest credit union, the Navy Federal Credit Union, said new account openings over the weekend were 23 percent higher than normal.
A New Horizon also advises their clients to carry cash, use the ATM if there is no fee attached, upgrade bank accounts to get free checking, switch to mobile payments using your cell phone as a payment device, use electronic checking (paying bills with a debit card using the bank's online bill payment service does not incur any additional charge), and P2P transfers such as Pay Pal, foursquare and others.
A New Horizon Credit Counseling Services is a nonprofit debt consolidation organization that has been helping consumers since 1978. For more information about their programs, contact 1-800-556-1548. They can also be found on the web at http://www.anewhorizon.org, or reached via email at slieberman(at)anewhorizon(dot)org