Reader Anthony writes that the financial warlocks at Bank of America have dreamed up a new fee to help pay for their subprime mortgage losses: a $10 fee to pay your parking tickets:
I was just going over my BofA credit card charges and noticed a $10 “Cash Equivalent Transaction” fee listed directly above a parking ticket payment for $30 I called them up and the rep. explained to me that BofA now charges $10 for paying parking tickets “or bail bonds” because they (somehow) consider it to be a cash advance. At first he offered to wave part of the fee. When I complained more, and told him I had not been notified of the fee policy, he waived the entire fee as a “one time only” convenience. I hate that bank.
There’s a perfectly reasonable explanation, Anthony. You tried to pay your ticket on 4/20, and the system was obviously high.