You had me at no overdraft fees Bank of America!

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Well I feel compelled to give a major shout out to Bank of America for “getting it” today.  With their BIG announcement recently that effective this summer, Bank of America “will only authorize single debit transactions at the point of sale if a customer has enough money in their account at the time.”

These people are flipping brilliant!  What a concept to only allow someone to spend their money if they have money to spend in their bank account!

As much as I’d like to admit I’ve never dipped beyond my allotted overdraft protection — stuff happens.  The kicker has been this — instead of my bank (who by the way will not be my bank by 4pm this afternoon) using basic intelligence in realizing my savings account could more than cover the $8.13 purchase I was making at my local pharmacy — instead, the automatically charged me an exorbitant fee of $39 for the convenience of making this purchase with my debit card.

How about this C______s Bank — why not say “decline” when I go to make that purchase or simply transfer funds from my savings to cover the overage from my checking?

Finally, despite the fact that Bank of America has been hard hit with high-level bad decision making practices and more bad news in the press to follow — they may actually be finally delivering on their brand promise of the three C’s – Control, Choice and Clarity.  Seriously, who’s running that brilliant marketing department?

Today, they can count another small business owner and consumer among their client base.  I’ve gone all BOA.